Monday, April 07, 2008

Charts Of Interest

The Dow and S&P are at major resistance.

Above is a chart of the XAU index along with an indicator that I use that actually does a very good job at forecasting moves in the XAU. The indicator has worked amazingly well up until February and March but now appears to be back on track. According to the above chart, the XAU index should rally for another week or so and then sell off into May.

Heating oil breaks out of a symmetrical triangle.

Natural gas is forming a symmetrical triangle. watch for a breakout.


Anonymous said...

luv the way you do your trades..
do you mostly engage in swing trades (like few weeks) or do you also do day trades..
i have been day trading for few months and not very happy w/ results...i am thinking to turn to swing trading. Thx

Kevin said...

Day trading is a very difficult way to trade. I don't day trade anymore...All my trades now are swing trades based on the daily and weekly chart formations. I find swing trading a much better way to trade...but thats just my opinion.

dsb said...

almost every day I think of leaving my day job and trading full time, then I remember that I tried that once............but I know more now so maybe I should try again. Well, it is all about discipline and if you can wait and watch for the very high probability trade, whether it be day or days or weeks. I do not know if I can be patient and disciplined enough


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