Saturday, February 24, 2007

Four Charts

Wanted to show you this from yesterday morning - sometimes things come together in strange and mysterious ways. I think I mentioned once that I sometimes watch the 4-minute charts for turnarounds and I especially do that during the periods when the market is declining. I've noticed that I can occasionally scalp a pretty good return if I keep my eyes open for traders trying to sneak in some cheap buys. Anyway this set of charts was on my screen yesterday -

And they were sitting together just like you see them here. All of a sudden tweezer bottoms started coming up. And, as you can see - there were reversals occurring as a result.

These charts are from Quote Tracker - they don't know me over there so it doesn't make a difference to me if you sign up or not. I like the fact that I can customize the charts to any frequency and time span and that they lock together like this on the screen (takes up less space that way). Of course you can layer the charts on top of one another so only the most recent candles are visible. And then if one of your indicators lights up you can hit that chart with the cursor and see what is going on.

Again - only hardcore chart watchers need apply - if you don't have charts up all day long it probably isn't worth the time and effort to set it up.

1 comment:


Some great news I was waiting for.