Posts Tagged double bottom

The W Pattern in Oil Price

The W Pattern in Oil Price

If you study stock price patterns, no doubt you would have come across the W or M pattern. These are also double bottom or double top patterns and signify potential reversals in the underlying asset class. If you want to read more, there's a nice article on Investopedia: http://www.investopedia.com/university/charts/charts4.asp#axzz1WgQnxMpY Anyway, these patterns can persist in all timeframes and I saw and traded oil with it last night. You can see that oil price made a W (outli

September 1, 2011 2 Comments Full Story

My other trade today – short CHFJPY – not a clean signal, let’s see what happens!

My other trade today - short CHFJPY - not a clean signal, let's see what happens!

I also put in a short trade on the CHFJPY with a trailing 50 point stop loss. The market hit a double bottom at 100.18 and has bounced up to hit the 61.8% Fibonacci level. The stochastics have also crossed towards the downside. All looks good you may say.. however, I am not 100% confident of this trade for the following reasons: The stochastics crossed at the 60 level. A clean cross should happen either above 80 and move downwards or below 20 and move upwards Very strong upwards momentum

June 2, 2008 No Comments Full Story

At least it wasn’t a loss – S&P emini trading

At least it wasn't a loss - S&P emini trading

I made one trade today, long 141225 when the 4 min stoch and MACD were looking like they were heading up. The 15 min stoch also was heading up…  I was cautious as the MACD was still in a sell state. I bought in and the market moved quickly upwards, it reached my 10 prices and I moved stop to breakeven. However, soon after this market fell and stop got hit. I ended up with no loss or win…

January 11, 2008 No Comments Full Story