Monday might present a new swing opportunity, but current chart patterns suggest to me that I might need to wait until Tuesday to get one. We'll see. Among many other factors, part of my "system" requires that the Daily and 60 minute charts be aligned for swings, and I don't see that now, at least not for me.
Sometimes a unique opp will present itself when they are not aligned (as in Thursday) but when that happens, risk is higher and I need to be prepared to exit quickly if needed. In fact, the reason why I only had the trade from Thurs 3:45pm (near the close) until Friday 8:30 AM (before open) is because the daily and 60 were not aligned, causing this rapid change and whipsaw.
So I will continue to search for opportunites and wait for the right one to come along.
* ChristopherStockGuy is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. For details, see the post from SATURDAY, AUGUST 15, 2009 titled "Disclaimer".
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