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Magic Chart
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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…

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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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