7. Day Trading and Investing: Charting Patterns Lesson 1
July 19, 2009 | Author: admin | Category: forex charting
http://www.informedtrades.com/
The first lesson in a series on chart patterns for traders and investors in the stock market, futures market, and forex market.
Duration : 0:3:57
Tags: analysis, business, daytrade, finance, forex, Futures, How, informedtrades, investing, market, stock, technical, to
July 19th, 2009 at 11:50 am
Nice try. Keep it …
Nice try. Keep it up check out esteembpo + com for social media marketing. fhjsd
July 19th, 2009 at 11:50 am
WAIT…he said …
WAIT…he said there would be sell offs in both cases?
July 19th, 2009 at 11:50 am
i never would have …
i never would have guess that that was what was happening on my own w/ the double top/bottom
July 19th, 2009 at 11:50 am
What are u talking …
What are u talking about ….this fundamentals.You do ur practice or try real after learning. Atleast contribute information, dont be dump.
July 19th, 2009 at 11:50 am
I think David is …
I think David is doing a great job. We shouldn’t criticize with his work. It did help me a lot as a novice trader when I started trading few years ago. Thanks David for all the free info. Keep up the good work.
July 19th, 2009 at 11:50 am
To be frankly, …
To be frankly, these videos doesn’t help and make worse when people believe your theories. Because these theories were all PAST, not future. If you want to teach or help new investors, tell them with the half chart, which means, the chart that doesn’t appear to be double top or double bottom, still in progress and take action, BUY or SELL? NOT just speak from chart, but do it LIVE, then you are real, or you are just lame.
July 19th, 2009 at 11:50 am
I was referring to …
I was referring to certainty in trend forecasting.
You make some very good points, thanks again for your intelligent and thought out responses.
July 19th, 2009 at 11:50 am
Well, again, there …
Well, again, there is no certainty in how much you are going to win. The only two things you totally have control over are 1) the entry point of your trade and 2) risk management, where your protective stop is. You must know where your protective stop must be and what your profit target is BEFORE you enter the trade. So these are all known things. What is unknown is the amount of profit. But risk and potential loss are known.
July 19th, 2009 at 11:50 am
Yeah I’m now …
Yeah I’m now getting it. There are no certainty in trading whatsoever, just degrees of probability. Thanks for taking the time to answer my Qs.
July 19th, 2009 at 11:50 am
Sellers do not …
Sellers do not short-sell TO drive a price down. Sellers are trying to get on a down-move of the down trend, or a down-move in the price action. However, there is something called “self fulfilling prophecy”, when many traders, by doing the same thing, move the price one or the other direction by sheer volume.
July 19th, 2009 at 11:50 am
What you are …
What you are missing is that there are no absolute indicators that will tell you exactly what you want to know. But a double top, or bottom, indicates stronger resistance or support, than one top or bottom. Ideally we want to avoid trying to pick a top, so there is no such thing as “a single bottom strategy”. The more times the price touches a support or a resistance level, the more confident we are whether it is a support/resistance level or a retrace from the previous movements.
July 19th, 2009 at 11:50 am
So does the double …
So does the double top or bottom establish Resistance and Support or is it already factored into the market? Also why just two runs, why wouldn’t buyers make a third, forth or fifth attempt to break through the Resistance level (or is a double just a strong indicator)?
July 19th, 2009 at 11:50 am
great video
great video
July 19th, 2009 at 11:50 am
So, with a double …
So, with a double bottom, sellers are short-selling to drive the price down? and with a double-top buyers are trying to drive the price higher!? What is this logic?
July 19th, 2009 at 11:50 am
Hi Dave, very good …
Hi Dave, very good lessons, well explained.
I picked out charts for 2 different stocks and an index (FXP, DIG, $COMPX) on market close on 11/13 to illustrate this question: they look almost identical!!!! I know they should be somewhat related, but all the time I thought that I could be shorting a fund of Chinese companies (just turn the FXP chart upside down) or buying into oil and gas; but compare the charts, they are practicallly identical! How can it be?
July 19th, 2009 at 11:50 am
Chart patterns… …
Chart patterns… BOING
July 19th, 2009 at 11:50 am
IM FREAKIN ! I
IM FREAKIN ! I
July 19th, 2009 at 11:50 am
thanks for the …
thanks for the comment I am glad you liked it. Best Regards, Dave
July 19th, 2009 at 11:50 am
Good job sir!
Good job sir!
July 19th, 2009 at 11:50 am
Hi visulube, …
Hi visulube, Thanks for the comment I am glad you like the videos and are finding them useful. Best Regards, Dave
July 19th, 2009 at 11:50 am
Hi Dave
Your …
Hi Dave
Your videos are great, you are a fabulous teacher, which in turn reflects your knowledge of this subject.
Keep it up !!
July 19th, 2009 at 11:50 am
Hi eshmaloner, …
Hi eshmaloner, Double/triple tops/bottoms can form in a range, however I think most would agree that they are at their most potent when they are at the top or bottom of a trend. The method outlined in the video does wait for the bounce off of the support or resistance line before entering a trade. How aggressive one is there is really a matter of preference. Best Regards, Dave
July 19th, 2009 at 11:50 am
I am a little …
I am a little confused how we should differentiate a double top/bottom from stocks trading in a range. In your previous example of Nike, there seemed to be a triple top and a triple bottom, yet you implied that a good trade would be to buy the triple bottom (as it took off from there). Would you wait to see if it bounced a little from that triple bottom before entering the position?
July 19th, 2009 at 11:50 am
Hi Marnold092, …
Hi Marnold092, Thanks for the comment. Patterns such as these are visible on pretty much every time frame. The longer the time frame however the more relevant most traders consider the pattern. Best Regards, Dave
July 19th, 2009 at 11:50 am
What timeframe are …
What timeframe are these types of patterns most visible?