Today’s intraday price action in the DIA (Dow Jones ETF) was particularly horrible for the bulls, but it provided us a few excellent examples of clear bear flag patterns as well as an opportunity to view a near perfect trend day down. Let’s look. DIA 5-min chart: The day began with an opening gap… to…
I know the year’s not quite up yet, but I wanted to highlight some of the most popular or most significant posts I’ve written this year. The following links represent my selection of top post you can refresh as a reference, or to help begin your journey through 2008 on the Afraid to Trade blog….
Reader Vasu requested that I give my interpretation of the current possible Elliott Wave Count on the Financial ETF (XLF) and without further hesitation, here is my current take on the Elliott count on the XLF. XLF – Financials ETF: On the normal site, this count is impossible to read – you’ll need to click…
A reader asked me to look at Fibonacci Price Extensions as part of the price wave structure, and this post represents the major Fibonacci Extensions/Projections for the S&P 500 as a guideline for price possibilities going forward. Let’s use this as a reference going forward of the possibilities – though not certainties – ahead. Standard…
Adam Hewison of the Market Club released a new video entitled “Trends and Timing in the FOREX Market,” in which he describes how to analyze a FOREX chart and how to generate and confirm trading signals using the weekly and daily charts in conjunction. Here’s a portion of the introductory text, reprinted with permission: “In…
Monday offered us a variety of interesting trading opportunities, many of us were instructional moments. Let’s step inside the 5-minute chart of the SPY – the S&P 500 ETF – spot some of these opportunities and locate some of the ‘idealized trade’ locations. SPY 5-min: To those of you who are regular readers, you know…
Warning – this post is not for the faint trading heart! A few readers have asked alternate methods to trade crude oil price moves and I’ve generally suggested the USO fund and a few others, but if you have some experience under your belt and want to take the most advantage of your directional bias,…
As the US Dollar has been weakening recently, foreign currencies have been strengthening, as have commodity prices. Let’s focus on the Euro Index to see what insights we can gain from the daily and weekly chart views. Euro Weekly: Price has clearly broken the strong uptrend which has persisted since 2002, roughly in line with…
In a previous post, I highlighted the Fibonacci retracement confluence clusters for the S&P 500 Index and now I wanted to show the same methodology of possible confluence support on the recent downswing in the US Dollar Index. US Dollar Index with Fibonacci Clusters: Using Constance Brown’s method of drawing Fibonacci grids off significant points…
Let’s take a moment to view the daily and weekly charts of the S&P 500 Index to determine the structure and technical position entering next week. S&P 500 Weekly Chart: We’re still in a lengthy confirmed downtrend with volume reaching very high proportions into the price lows of October and November, signaling potential capitulation selling…