The one trait that all top traders have in common

At All About Trends, our mantra AT ALL TIMES is "REGARDLESS OF WHAT THE MARKET THROWS AT US".

After all that is a trait ALL top traders have in common and that is what ALL of you should be striving for vs. getting sucked up in all the Euro hoopla.

When looking at the daily charts, you can see we are hitting some resistance levels.  What we want to do is give things a little time to sort themselves out which means PATIENCE with a capital P before we get too cute in any one side of the market here. Continue reading "The one trait that all top traders have in common"

Pullback off lows – The only pattern you need to know in downtrending markets

 

As we go through the charts of the daily indexes and individual names we see a lot of Pullback Off Lows (POL) patterns.

Much like in uptrending markets Pullback Off Highs (POH) patterns are the only pattern you need to know, in downtrending markets the opposite applies.  In downtrending markets POL's are the only pattern you need to know for shorting. Those POL's are also the what to watch out for if you are long. That all said below are the daily charts of the indexes.  Continue reading "Pullback off lows – The only pattern you need to know in downtrending markets"