Wednesday, April 25, 2007
Thursday, April 19, 2007
Heres my warning post. Troubles brewing in Asia and the dollar looks very close to some kind of tradeable bottom. A bull trap can come at any time, and a high may be in place. Alternatively we may have a final run to pog 730. The risks should be obvious.
S. M. Himes
Tuesday, April 17, 2007
If you're a trader you are well aware that the current situation in the PM market is dicey. This is a point where we need to use some very simple tools and not get over complicated with cycles and counts. I wont begin to suggest I know if this is a valid breakout. All I know is price is rising and near significant resistance. Not knowing if there is sufficient power in the cycle to push through, all I can do is exercise trading discipline to navigate the waters. Thats pretty much what tonights chart is for. The chart is bullish until proven otherwise. To me it is clear that this hourly chart must stay in tact for long trades to remain open. I have no problem leaving money on the long side when its positioned from the swing lows. However, we are currently near swing highs so the risk has increased substantially. If resistance turns to support then we will be well positioned by using our tools and discipline.
Sunday, April 15, 2007
1) A change of hands from sellers to buyers on at least a intermediate term timeframe.
2) A clear set of higher lows preferrably rising into a resistance band.
3) A compression of intermediate term bollinger bands.
4) Confirming technical indicators, aroon, macd, adx, williams%R. At least 3 should confirm.
Wednesday, April 11, 2007
Here's some closeup ramblings for tommorow. This is a sneaky chart. Sneaky is what the bulls do best. I don't want to spoil the party, but the more I consider the chart the more bullish it looks. I guess we'll soon see. You make the call.
Tuesday, April 10, 2007
Thursday, April 5, 2007
Please Checkout the Chart Links Below the Posts.