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Magic Chart

Magic Chart

by The MoleMarch 29, 2010

This is one of my favorite charts, and it continues to be worth gold:

Not sure how this works and why (well, I do have a theory) but every time we hit the bottom or top of this trend channel the tape makes a u-turn. Based on prior occurances chances are the down trend continues, at least for a few days. I’d give it to about 0.5 – then take profits and call it a trade.

Disqus is down again today it seems – sorry, but this one is out of my hands. Why they have to put a new database into production on a Monday morning is beyond me quite frankly…

About The Author
The Mole
Mole created Evil Speculator amidst the chaos of the financial crisis in early August of 2008. His vision for Evil Speculator is a refuge of reason, hands-on trading knowledge, and inspiration for traders of all ages and stripes. You can follow him and his nefarious schemes at the usual social media waterholes.
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