20060309 e:38 pm. the breakout bar (see rectangle area) came on the gap up bar today. Symmetrical triangles, or consoidation patterns can sometimes be a clue to what is about to unfold. The key is patience, unlike yesterday where we tried to force shorter trendline breakout, which in the end did eventually work. Let's review what made the odds in this trade: 1) A period of consolidation in triangle/wedge (building up energy) 2) RSI momentum above 50 and strong and 3) This morning the Japanese Nikkei 225 futures had a strong parabolic run up. (normally this is extraneous, but toda was a strong enough supporting factor)




0 Comments:
Post a Comment
<< Home