The Chinese say, "may you live in interesting times." While we are certainly living through some interesting times in the financial markets, I think most traders and investor would agree that change brings opportunity.
By now we all know and have heard the horror stories about the problems in the financial markets, the AIG bailout by the government and SEC Chairman, Christopher Cox, changing the naked short role again. It boggles the mind as to what's next?
I think it's time to look at an interesting trading and chart pattern which I'm sure has been discovered by many MarketClub members. For those of you who are not familiar with this pattern, this short video should help you understand one of the principal trading patterns of the market.
After watching the video, I'm sure you agree that with current market movement, the potential to make in profit on this trade is very high. The purpose of this video is to educate, but certainly you can trade this pattern successfully in the future.
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Thanks for watching the video,
3 thoughts on “Here's a potential trade you might find interesting.”
The volatility in this market is so high, I'm doing a lot of legging into spreads. Looks like the double bottom almost hit the target, but today this trade is in danger of closing below the pivot point on a back test.
I also made a comment on my blog htat if there was strong buying follow through in the markets today, it would likely indicate a short to mid term low has been put in. If you did make this trade, make sure your stops are set!
This is why I like to trade FOREX, because it's not as easy to manipulate, like a stock market. All the croaks should be prosecuted, only last year all the financial institutions was splitting BIG (bonuses) profits !!!!
Tank You Adam For a Good Post.
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