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Wrinkles

03/05/13 10:16 AM

#66588 RE: sbais #66586

Sbais, I posted this a few times, watch this video over and over. When you bring this You Tube video up, you will see this guy has many many other tutorials on right hand side. Watch them one at a time and learn.....I know this guy like my own brother, he is excellent at this game.

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Wrinkles

03/05/13 10:22 AM

#66591 RE: sbais #66586

One lil tidbit I'm a stickler on are lows and highs. When a stock has been consolidating/sideways for a while and then breaks the previous days high, it has my attn/on watch for volume and confirmation. Conversely when a stock that has been on a run higher, breaks the previous day low, that tells me 95% of the time, the run is over and I can be selling. Rarely does a stock on a recent run break the previous days low and then go higher. Does happen, but not often....good sign to be parachuting. So many things to learn on charts. I'm just an amatuer with charts, compared to many folks here, but you gotta find what works for you and your style of trading.

The same principle above, I use on the S&P chart, when S&P breaks previous days low with us at alltime highs, you better believe I'll be 90% cash fast, no matter what I'm holding.