Post by
egaman on Jul 28, 2017 9:44am
How to read the intraday chart: For dummies (continued)
OK, here are a few more tibbits that are just as important as the last part:
1. There's more than 1 star constellation in the sky. As above so below. Obviously, there are dozens of different "star formations" on the intraday chart.
2. Every market maker knows the patterns by heart. Sometimes they even draw them themselves, but most of the time, they go with the flow of the patterns to generate a market/liquidity.
3. Patterns tell you how high the stock will go in the immediate term. They sort of set a target point for the SP to reach, and once there the SP will reverse.
4. Since I alluded these patterns to "institutional money", the best way to learn about the patterns is to follow an institutional money-heavy instrument like HGU/HGD or HVU/HVI. But look at #3, the patterns give you the power to "kill" by going short the instrument at the target zone with surgical precision.
Comment by
Spidey2332 on Jul 28, 2017 11:24am
Anyone that follows your lead is just a fool. One press release of substance can bury your account. Bad advice. The only thing you can be certain about in the markets is nothing is precise.