Thursday, October 29, 2009

FBS patterns

All of the following charts are exhibiting almost identical False Bar Stochastic patterns. Based on this pattern, the next few days are crucial for the Intermediate trend. Either prices fall back into an extended down trend, or, the market bounce from today will continue until prices get overbought toward the middle of next week. This observation may not answer how to trade through this period, but at least it provides some backdrop and perspective from which to deal with the days ahead.

On Sells, for now


Even if still Long, most are just another weak day away from triggering back Short

NNVC 90 minute

Note how the FBS has entered Trend mode


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