Wednesday, March 24, 2010

Patience Required Tuesday


Very low volatility yesterday. It looked like no opportunity, but not true. If anyone had the patience, I didn't, there was a setup. The 5m and 2m charts were congested, but the 15m was the one to watch. I do watch it, but I don't usually take setups with it. Seen here, it was a really nice inverse head & shoulders with a perfect reversal pair of bars at the neck line for the move.

2 comments:

  1. Multiple timeframes can be a big help, I trade off the 5 minute but take many cues from the 1 hour chart.

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  2. I have 60m up with 15 & smaller ones. Sometimes there is a setup on one and not on others, it changes every day. Brett blog was good today regarding the low volatility or ranging we have lately. It made me think, a lot.

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