Saturday, March 24, 2012

Nemo's Findings for 3/24/2012

(Course on chart pattern recognition is available now:  

Here are the images for next week:

Here are the links:

Now, somebody said they were having a problem with all the lines on the chart.  Well, I never use it with a setting above a 15 minute chart since we're daytrading off of it.  For instance, this is what I look at all day on one monitor:

The only arbitrary lines on the charts will be green, and those are subjective levels or trend lines.  I put them there for a reason (which, of course, may only be reasonable to me).  You'll notice the green line where IWM's price action bottomed (at daily S2), that line has been there for a while(check the hourly view on IWM if you import the format).  You can remove those or trace the origin back to where they start and see if you can figure out why I have them there.  (If you do figure it out, that means you have an insight into my mind, which is a very dark place, and you should likely seek professional help immediately). 

Now where did I put that lithium?  Oh, the frickin' bunny took it...

Here's the original post that explained the approach: