Thought to share some notes on the Oil futures chart ( $CL_F or aka $CLJ1 ) $ESH1 ( emini futures ) $TFH1 ( russell futures) & Daily Gold charts
Hope you find them helpful and see if you can make some money off them..
Currently i'm short #oil futures – via a ETF hod.to ( horizon beta 2x bear ETF) — similar is $SCO etf
thinking to short Gold from up here –
If we pop on /ES futures to the previous resistance i would look to close out some of the current swing trades I'm holding
That's why I like to look at the futures & markets as a way to decide where to buy positions , sell positions or short /cover positions.
double click on the charts to see them bigger or right click to open them in a new window or tab
The charts you see below are different from what i usually post but I use them daily too and they are courtesy of tymorapro. You can find more info @ http://yourika.com
I'll be getting Alex from tymoraPro to do some scanning webinars in the near future that I think you will find very helpful using the software.
Similar candles on March 1st and yesterday March 7th — then March 2nd and March 8th bounced towards fibonnaci retracement points
/ES if we do push higher look for resistance higher to 1330's then over 1340
If you don't understand these charts feel free to ask at a Saturday Chart /Chat session and i'll review them again for you. Its a bit intimidating the first time you are learning charts and futures and its a totally different language till you get use to it. Take your time , learn a bit at a time and then you can learn to profit from Oil, Gold, Futures and Stock Market moves.
If you missed the March 5th , 2011 Saturday Chart/Chat Webinar – its almost 3 hours long -Lot of trading info/charts.. You can download it here Enjoy!! http://bit.ly/hGINlI