Posts Tagged trendline

My Final trade on the S&P and the Head and Shoulders pattern

My Final trade on the S&P and the Head and Shoulders pattern

I have been busy today and posted quite a few times in a short space of time! Anyway, I entered another trade after the previous and make all the losses back to close at 0.3 points in profit! Hoorah, at least it wasn't a loss! As I mentioned earlier, I was talking about the head and shoulders pattern. It wasn't a perfect pattern but as I write, the market has indeed reversed and hit my targetted endpoint at 1388 and indeed has gone beyond this! In addition, I didn't mention my Fibonacci

May 28, 2008 No Comments Full Story

A perfect symmetical Head and Shoulders pattern on the S&P?

A perfect symmetical Head and Shoulders pattern on the S&P?

Today, I saw the perfect Head and Shoulders pattern on the S&P and got very excited. Look at the diagram, the 3 red dots signify the shoulders and head. I have read about this pattern in technical analysis books and in most cases, they signify a reversal pattern. I was looking at the chart moving up to at least 1388!! Anyway, I went long at the second shoulder.. the market moved 2 points up my direction.. it was looking good and then tanked, breaching the limits of the second shoulde

May 28, 2008 No Comments Full Story

Emini trading – profitable but could have been more!

Emini trading - profitable but could have been more!

I went long at the break of the previous high in the S&P at around 1378... I actually got in at 1379.48 due to the spreadbetting spreads which you pay rather than their commission charges... they move their spreads about meaning that you can lose half a point (in S&P terms) per transaction... and upto a while point when doing a round trip. Anyway, the market went up and I got out at 1381.53 (I actually closed when the chart reached 1382 which was my target exit) for the equivalent of

May 27, 2008 No Comments Full Story

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