Tuesday, December 4, 2012

THE TALE OF TWO CHARTS 12/4/12

BOT TRADING SYSTEM


Charts are a reflection of market sentiment of the total trading public.  Toss in the direction of the market makers, and we get PA.  Any add-on to your chart is based upon price, volume, or number of trades at X.  Some try to be predictive, others are lagging in nature.  The point?  If your going to add MA's, pivots, MACD, etc. to your charts, at least check out the nature of the add-on and avoid duplication.  Duplication can lead to a false read, or "rush" you into a trade.

For BOTs. the only added feature is an occasional trend line or target level.  These are added for visual clarity when discussing in the chat.  Another visual is the line to estimate the 50CB level.


FULLY LOADED CHART





THE DIET CHART



Two bar reversals seemed in vogue to day.

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