ER2 charts

futures live trades

Moderator: moderators

humble1
rank: 150+ posts
rank: 150+ posts
Posts: 170
Joined: Fri Aug 25, 2006 2:39 pm
Reputation: 0
Location: Florida
Gender: Male

Postby humble1 » Mon Feb 19, 2007 11:22 am

Glad you all enjoy the charts. If you have any TA you want to inject, go right ahead.

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

humble1
rank: 150+ posts
rank: 150+ posts
Posts: 170
Joined: Fri Aug 25, 2006 2:39 pm
Reputation: 0
Location: Florida
Gender: Male

Upside target for the traingle got made today, and

Postby humble1 » Tue Feb 20, 2007 4:54 pm

another pattern broke out.
very quick reversal off price and moving average support this morning on that gap down opening. The short was negated due to the gap opening if you could not get short premarket near 819 or so. Now this is already back into some resistance due to upper parallel. Small flag target dead ahead [826.4] too.

Image

humble1
rank: 150+ posts
rank: 150+ posts
Posts: 170
Joined: Fri Aug 25, 2006 2:39 pm
Reputation: 0
Location: Florida
Gender: Male

first test of minor support near 820 - 822

Postby humble1 » Wed Feb 21, 2007 1:51 pm

A triangle formed and broke out on light volume. Have to roll with it and read things on the fly. I tried one short near 826, but got stopped out soon after with a small loss, then the tri setup and became very evident. The high failure setup triggered after the triangle target was made. Tuff to go into after watching the bears get eaten up time and again. Now we get to see what the bulls are made of today. This should be good. Another gap down opening if this holds here, and the bulls may expect a bit much this time. What a game.

Image

humble1
rank: 150+ posts
rank: 150+ posts
Posts: 170
Joined: Fri Aug 25, 2006 2:39 pm
Reputation: 0
Location: Florida
Gender: Male

Postby humble1 » Wed Feb 21, 2007 1:59 pm

60 minute chart -

Image

humble1
rank: 150+ posts
rank: 150+ posts
Posts: 170
Joined: Fri Aug 25, 2006 2:39 pm
Reputation: 0
Location: Florida
Gender: Male

small HnS breakdown - price now snapping back to resistance

Postby humble1 » Thu Feb 22, 2007 5:09 pm

this should be a short if 827 holds as resistance. yesterday a small double bottom showed up right on 38% retracement and rallied close to it's measurment in very choppy action. This is the first upside failure in a long time, and it is so close, it may not be significant.

Image

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

humble1
rank: 150+ posts
rank: 150+ posts
Posts: 170
Joined: Fri Aug 25, 2006 2:39 pm
Reputation: 0
Location: Florida
Gender: Male

formed a triangle at resistance, and exploded

Postby humble1 » Thu Feb 22, 2007 9:07 pm

827 definetly had an effect on the price action. In a good HnS snap back the price will retreat from resistance very quickly, when it doesn't, then you see the result.

Image

humble1
rank: 150+ posts
rank: 150+ posts
Posts: 170
Joined: Fri Aug 25, 2006 2:39 pm
Reputation: 0
Location: Florida
Gender: Male

Postby humble1 » Thu Feb 22, 2007 9:10 pm

60 minute chart showing the volume

Image

humble1
rank: 150+ posts
rank: 150+ posts
Posts: 170
Joined: Fri Aug 25, 2006 2:39 pm
Reputation: 0
Location: Florida
Gender: Male

Weekly chart - check the volume

Postby humble1 » Fri Feb 23, 2007 12:32 pm

unless today is a stellar day, this is putrid for a follow thru stick. It won't last long before this heads back to test breakout support. imo. LMB = last minor bottom according to the 3 bar rule, as of this week, three bars have formed above the 1/12/2007 stick. The last minor top was in May of 2006 just before the summer rout. the confirmation of the pattern breakout is a 3% move = 830. So the pattern is confirmed, but volume is lousy. Long termers probably will have stops just under 800 at this point by a percent or so. Overall, this has the making of a rising wedge with confirming volume. A reversal anywhere at this level on up to about 860 or so will put in the 4th pivot for the pattern. In a bull market rising wedges usally retrace about 50%. A full retrace will signal a change in long term sentiment. We will see what we will see.


bh_trade
rank: <50 posts
rank: <50 posts
Posts: 20
Joined: Wed Jan 17, 2007 2:09 am
Reputation: 0
Location: Houston, TX
Gender: None specified

Postby bh_trade » Fri Feb 23, 2007 3:44 pm

Humble1:

Do we not have yet another H&S potentially in play? 2/20 peak=LS, all-time high=H, late 2/22 peak=RS. That formation would have neckline at approx 824.50 today with target of approx 816 on a break. So *if* we test 821 today things could get interesting . . .

humble1
rank: 150+ posts
rank: 150+ posts
Posts: 170
Joined: Fri Aug 25, 2006 2:39 pm
Reputation: 0
Location: Florida
Gender: Male

Postby humble1 » Fri Feb 23, 2007 6:53 pm

bh_trade wrote:Humble1:

Do we not have yet another H&S potentially in play? 2/20 peak=LS, all-time high=H, late 2/22 peak=RS. That formation would have neckline at approx 824.50 today with target of approx 816 on a break. So *if* we test 821 today things could get interesting . . .


yes on the HnS.....it is also starting to show up on the 60 minute chart. pull back to 816 is OK and would be healthy at this point. gap is down near 810 and should fill at some point. that would be OK too.

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.


Return to “futures”