Living la vida Trader

I’m not trying to pick favorites.  I scan and will take trades off just about any time frame:  15, 20, 60, 180, 240, daily…even 5 minute charts for e-mini and stocks.  But there are times when my schedule gets busy or I just want to “set it and forget it” but still be able to take advantage on intraday moves on a longer time horizon.

That’s when I call on my friend the four hour chart.  Here’s an example of a chart I am watching this morning.

This is a classic symmetrical triangle pattern, a “momo” (momentum) set up.  We just sit back, part a stop order and wait for the break.  Remember that triangles are dynamic patterns and the entry price (determined by where prices pierce the trendline) will change slightly with each new candle/bar.

If a U.S. Dollar is reversal is rally underway how come the crude oil market isn’t factoring it in?  Maybe it’s because the only people talking about a dollar recovery are on TV.

Shocked?  You shoudn’t be.  I mean seriously, this is hardly “new” news.  I think looking at the current trend says it all.

There’s so much talk of buying pullbacks and little discussion of what that means..well I’ll tell you, look for pullbacks to key psychological levels, near term 120.00 would be cool and a pullback to 117.00 would be even better.

These are not random numbers, rather they are support levels that buyers are likely to support.  Decade numbers like 120 are always powerful and stacked with orders.  The 117 level comes from the top line of my Wave and would allow me to keep buying to 114.00.

More on this as we await a pullback.  Remember DEFINE what a pullback means to you.  I’ve done it here on the daily chart…for more aggressive intraday traders, you can certainly find opportunities on intraday charts but for futures I prefer the daily.

Work has begun on my third book!  Even after almost 19 years, I’m always growing as a trader (no one knows it all!) and as an author.  I’m hoping to put all my forex, stock, and futures trading strategies into a easy to follow investing and trading program. 

I think anything that can help people take charge of their own finances is cool.  I think too many people are looking to someone else to help guide them to the promised land.  No that it even exists…and if perhaps does it’s “Oz” - and the “wizard” it full of it!

The focus will be keeping traders are the correct side of the trend and introducing traders and investors to the ideas of shorting.  Sure, lots of people may know about it but far too few understand it nor the predominant bullish bias of stocks and commodities.

More now than ever forex trading is getting more and more attention from mainstream media and investors.  No market is an island and the U.S. Dollar’s six year downtrend is finally taking center stage as likely one of the main issues that have led to where we are now with inflated crude oil prices and commodities.

There are a lot other projects, trading and non-trading that I am working on and I will be sharing all that here too.  In fact, my designer has been working on some of my personal projects “Intend 2 Defend” (MMA and self-defense) “Pitbullish” (for stock investors) and “Poets and Pirates” (because I love pirate stuff!).  I think of these as creative distractions!  More on those later.

Ofcourse, for more information on my trading stuff, visit raghee.com.  They are the official educational source for my books, videos, seminars, and chat room.

I’m still continuing work with my tool favorite trading tools, EZ2Trade Software and Autochartist and you’ll plenty of charts with both at work.

Stocks, futures, and forex…let’s rock the markets and live the trading life!

 -Raghee