(Originally Posted Thursday March 16, 2006 @ 07:51) The double top on the Dow Jones 10 minute bar chart is being perfectly formed by the double top on the 5 minute bar chart right now. The first real sell point of the morning was just set up. It’s been a great run up from the opening bar and the double bottom at 9:30 and 9:35.
I don’t trade the overnight session so didn’t even have my computer on to catch the first rally at 8:30. No problem. There will be more! As a matter of fact my thinking is to leave this short alone and sit tight. We’re getting quite a bullish push in the Dow and S&P these last few days so I see these selloffs as corrections to support in this recent bullish trend.
Why not take a look at another way to earn money while sitting in front of your candle stick charts. If you’ve ever traded spreads like I do at the beginning of the grain season or option spreads if you can do the math, you already understand the arbitrage trading.business. I see Risk Free Profits as a good thing.
Let’s talk!