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ER2 charts

Posted: Fri Feb 02, 2007 2:53 pm
by humble1
feels like a profit taking day for the bulls. Rallies are low volume. short term patterns targets seem to have been met.


Posted: Fri Feb 02, 2007 7:55 pm
by humble1
today was a scalper day. The 2pm candle is a high failure so far. if 810 support fails I'll stick with the short into the close. if not I'll get out break even at the least.


ER2 daily chart and Monday's plan

Posted: Sat Feb 03, 2007 10:17 am
by humble1
Risk is low for a short to take advantage of profit taking by the bulls. Volume did not support the breakout. Dynamic resistance is in play.


Descending triangle appears.

Posted: Mon Feb 05, 2007 9:37 pm
by humble1
I am inclined to fade upside breakouts until this moves further towards the demand line. [lower parallel] typical choppy action after the recent run. Profit taking by the bulls looks to be fairly tame so far.


the premarket chart

Posted: Tue Feb 06, 2007 1:43 pm
by humble1

Posted: Tue Feb 06, 2007 3:51 pm
by bh_trade
Nice charts. Just curious what the indicator was that provides the trading bands on your 1100 tick chart posted today.

Thanks

ER2 is back at support

Posted: Tue Feb 06, 2007 4:05 pm
by humble1
volume confirms the move down and the failure of the bullish breakout on the descending tirangle. This is a good spot to take profits if very short term trader. If you hold longer than just set stops at the last minor peak to lock in some gains.


http://img246.imageshack.us/img246/1905/er2esv5.gif

Posted: Tue Feb 06, 2007 4:07 pm
by humble1
bh_trade wrote:Nice charts. Just curious what the indicator was that provides the trading bands on your 1100 tick chart posted today.

Thanks


price channel on Tradestation set at 20. This seems to provide some dynamic s and R.

small inverted HnS has made it's upside target

Posted: Tue Feb 06, 2007 6:31 pm
by humble1

last chart of the day

Posted: Tue Feb 06, 2007 8:40 pm
by humble1