Wednesday, December 24, 2008

12/24/2008 - Symmetrical Triangle Holding

Didn't trade or watch the market at all today, and looking at the 5-min chart, it's obvious I didn't miss much. Symmetrical triangle on the Daily still holding perfectly! I realize our job as traders is to REACT and not PREDICT the market action. But almost everyone has some preconceived notion on where the market is going. Just for kicks, where do you think we're headed on Friday? These narrow range days can't last much longer and we're due for a decent size move. I feel like we're gonna bounce on Friday, but I say that knowing that my job is to REACT to the market action on Friday, and not let any bias get in the way.

Happy holidays!

Symmetrical Triangle Holding on the Daily

Market Structure/Balance (5-min)

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