Click chart to enlargeThe above chart is DDM on a 2 minute chart with a 100dma. For those of you able to watch the market as you work, we've found that when this moving average is decisively broken, the market turns. We don't want to focus too much on intraday charts, because we don't want to become intraday traders, but it is nevertheless valuable information in a market like this. With such wild swings, a week's worth of normal trading now takes place in a day. If you look at this chart and pretend it's a daily chart, you'd probably do pretty well trading it. Buying when it begins trading above its uptrending moving average would treat you a lot better than buying the dips.
1 comment:
Snot,
What are your plans from now?
Do you still think that DDM will reach 40 and go behind that?
As far as my plans, I will start buying FXP+SMN as soon as DDM Breaks above 39.
Of course anything can change at anytime.
I regred selling DDM early this morning but the risk/reward ratio was not worth it.
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