Printer Friendly

eMail Article

March 05, 2008

Market Update: It Pays to Trade the Charts
by Dominick

Three things came together today at TTC:

Superior price targets;
Unbiased Elliott wave analysis;
A Real time chatroom correctly trading the trend.

The chart above was originally posted Monday afternoon with a clear target for the five-wave move lower from the late February high. With sentiment all week simply terrible, and most traders acting on their bias toward a retest of the January lows, TTC was intently focused purely on the trade at hand. As the next chart shows, not only did Tuesday's late day reversal and rally launch from within our 3.25-point target window, it also peaked at our previous resistance level, where, naturally, we took profits.

For weeks, members at TTC have had a single chart with a bull count and a bear count and the idea to understand the expectations of both sides of the market. Both counts needed an impulsive move lower, the bulls for c of 2, the bears for 1 of 3. For months now I've insisted the bearish count has its problems and needed to prove itself soon or would be at risk. If we are correct, the reversal that began today in many markets, including soybeans and gold, is just the beginning. The ultimate decision lies with the bears, who could still launch another move lower on the upcoming jobs data, but who says the report can't be better than expected?

JOIN NOW

Do you want to learn how to trade short term time frames? Would you like access to this week's big picture charts posted in the weekly forum right now? If you're thinking twice about paying for a reliable service, consider the charts above which show the bargain TTC members find week in and week out.

TTC is not like other forums. If you're a retail trader/investor looking to improve your trading, you've never seen anything like our proprietary targets, indicators, real-time chat, and open educational discussions. But, if you feel the resources at TTC could help make you a better trader, don't forget that TTC will be closing its doors to retail members this year. Institutional traders have become a major part of our membership and we're looking forward to making them our focus.

The only way to get in is to join before the lockout starts - once the doors close to retail members, we'll use a waiting list to accept new members from time to time, perhaps as often as quarterly, but only as often as we're able to accommodate them. Don't get locked out later, join now.

Have a profitable and safe week trading, and remember:
"Unbiased Elliott Wave works!"

Dominick,
a.k.a. Spwaver
TradingTheCharts.com

This update is provided as general information and is not an investment recommendation. TTC accepts no liability whatsoever for any losses resulting from action taken based on the contents of its charts, commentaries, or price data. Securities and commodities markets involve inherent risk and not all positions are suitable for each individual. Check with your licensed financial advisor or broker prior to taking any action.

Copyright © 2006-2008 TradingTheCharts.com

Image rendition and html coding Copyright © 2000-2008 SafeHaven.com

« BullionVault.com -- Buy gold online - quickly, safely and at low prices »
« Honest Money: A History of U.S. Gold & Silver Currency -- by Douglas V. Gnazzo »

« Opinions expressed at SafeHaven are those of the individual authors and do not necessarily represent the opinion of SafeHaven or its management. Articles are available via RSS/XML. Please visit RSSHelp for instructions. »