Financial history doesn't repeat itself, but it often rhymes.
You can't be stupid enough to trade off anything I say.... I'm lucky they let me out of the straight-jacket long enough to trade.
Monday, February 23, 2009
BBT
Tony is looking at BBT tomorrow, I figured I'd throw out some trend lines for him and some FIB.
Hopefully what, as you get used to working with trendlines is that, when you get horizontal and trendline support to match up... you will get an inflection point.
Maybe, then you will start to see how the market moves 2 dimensionally, within a linear regression. which makes it easier to trade.
Tony is looking at BBT tomorrow, I figured I'd throw out some trend lines for him and some FIB.
Thanks for the trendlines. Where's the Fib?
ReplyDeleteI see that it's getting overbought in the short term. Looking for a low volume pullback to enter (but I'm not real excited.)
it is there, just light.. just FIB. from the high to low.
ReplyDeletehmmm, I am thinking we may get a gap fade, but...
Look for the downleg(5min time scale), wait for the trend to be broken. and set a stop.
I see it thanks. The 38.2% is right at the resistance levels I drew.
ReplyDeleteHopefully what, as you get used to working with trendlines is that, when you get horizontal and trendline support to match up... you will get an inflection point.
ReplyDeleteMaybe, then you will start to see how the market moves 2 dimensionally, within a linear regression. which makes it easier to trade.
WFC nice move....
ReplyDelete