The market is quite boring right now, and I do not find anything worth trading. It seems like this week will be very slow going into the three-day weekend :-(
The chart above is the weekly for RMBS. Look at the beauty of the inverted H&S pattern and the perfection of the volume. If this baby breaks $20, it could go to $35. This one is a good candidate for my retirement account.
TRV has a quite compelling daily chart, and that is why I kept it in my radar fort the last few days.
Today I was compelled to take the trade for the following reasons:
1. TRV held up quite well during the first part of the session while the rest of...
SHLD gaped down big 3 days ago and since that time I kept it on my focus list to see what it would do. Today the stock gaped down again but this time with some clear bullish action. This is a nice C&H pattern (but also could be read as a nr7...
The first chart shows how AXP was trapped in a channel for the last week or so. I noticed that yesterday so I placed an alarm near the top and another one near the bottom of the channel.
The second chart shows how I executed the trade in the 5min time...