Sunday, August 31, 2008

Three is a charm? For me, four is a charm

Here are four charts that I thought looked good:

This setup tends to be bullish, especially with the stochastic in the oversold area (stoch chart).

I like this chart too. Looks like it may be overextended; volume is waning as price increases. An evening star formation is starting to form, which could lead be a bearish indicator.

With the stochastic in overbought, this engulfing candle setup looks ripe for the picking. Looks like it may find support around 44.

GT seems to be consolidating around 19/20. If it doesn't break that (and volume has been light on the pullback, suggesting it won't), then it could become a profitable trade.

Good trading and remember to take care of yourself.

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