A Repetitious Pattern that is observed is the Symmetrical "Down>Horizontal>Down" or the "Up>Horizontal>Up". These patterns are similar to the old semaphore signals that date back into Naval History. Why they happen I do not know, but I do know that they happen.
2 Day, 5 min. - May 7 - This was a very interesting trading day. The Gap up was followed by a slide in internals and price action to a horizontal plateau. This was followed by a "quite" MACD and a symmetrical break to the downside with a crossover of the 8/21 MA. That was the "short signal". High "hockey stick" also confirmed this trigger. Note how the afternoon session was a symmetrical repetition of the morning session. The Sneak Attack at the close is another phenomenon that defies reason to explain except to say it does happen and we need to be prepared to deal with it.
5D, 15m. - May 7 - Breakdown of Short Term Trend line led to move to the downside.
3M, Daily - May 7 - In spite of pull back in the market today the Channel Trend is still Bullish and should be respected. Watching the first 15-30 minutes of the market can help give us an indication of market direction. Let the Market Show Its Hand.
A Repetitious Pattern that is observed is the Symmetrical "Down>Horizontal>Down" or the "Up>Horizontal>Up". These patterns are similar to the old semaphore signals that date back into Naval History. Why they happen I do not know, but I do know that they happen.
2 Day, 5 min. - May 7 - This was a very interesting trading day. The Gap up was followed by a slide in internals and price action to a horizontal plateau. This was followed by a "quite" MACD and a symmetrical break to the downside with a crossover of the 8/21 MA. That was the "short signal". High "hockey stick" also confirmed this trigger. Note how the afternoon session was a symmetrical repetition of the morning session. The Sneak Attack at the close is another phenomenon that defies reason to explain except to say it does happen and we need to be prepared to deal with it.
5D, 15m. - May 7 - Breakdown of Short Term Trend line led to move to the downside.
3M, Daily - May 7 - In spite of pull back in the market today the Channel Trend is still Bullish and should be respected. Watching the first 15-30 minutes of the market can help give us an indication of market direction. Let the Market Show Its Hand.
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