Friday, June 28, 2013

Friday chart:

there was a trade premarket short on the TL formation then break.

after dropping --  uvol-dvol and adv-dec break upward and the 5 min TL breaks as well - allowing a long attempt that is good.

price moves back to the original short area.

Again -- we are looking for the symmetry of TL formation -- go with the line as long as the internals are also moving the same way.

End of day a crazy drop but the 5 min TL had broken and even started to form a 3 touch right before the plummet.

This chart is just the morning bounce trade -- when I'm using 1 min candles still -- noticed the internals turn up and then the TL broke and made a small double bottom.

/tf: 1 min candles for the first 90 min.

I am using 1 min. candles for the first 90 min -- easier to see.   After that, 1 min. candles create too much noise -- and 5 min. candles are better - even if they feel like you can't see the details.

/tf opex Friday, end of qtr craziness

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