I always have a look at this index when trading against the dollar. This give you the overall picture of the US Dollar against all other currency.Short term it looks like the dollar has broken a short term trend line which has led to the test of the neckline on a head and shoulders pattern which is pretty big. It's currently bounced of that neck line as of 3rd feb.So if your betting on the dollar to be the stronger pair then be careful as if that neckline support breaks then the head and shoulders top comes into play and which could mean the dollar falls a lot lower against most currency . So one to watch over the coming days.       Close up view     If  you look closely there is another head and shoulder formation on the close up chart as well. So there's a...

   The Dow Jones Index is approaching a very important level The Dow Jones (Dow) is approaching its all time high and this level is an important level as everyone knows that this is the highest the Dow has ever reached. I would be very surprised if the high got taken out on the first attempt, so for this reason I would short the Dow at 14198 with a 40 point stop during market hours only.   I won't short this level if the Dow closes very near to this level from the previous day, the attempt should be from a far away distance like 100 points away.  Whenever it closes near a major resistance then the chances of a breakout are higher so hence why this trade should be done from a far away basis only.    Another reason for the short is due to the double top possibility whenever I see a share or index approach...

Hey guys, Thought I would give this blogging thing a go for the first time! After reading so many good blogs and posts, it cannot help but inspire me to try the same. The worst I will do is learn, the best I can hope for is to give someone a trading idea for the upcoming week or months. Right now as it stands, I look at alot of charts, I annotate most of them, but only post a few on the board. This means that alot get lost in files never to see the light of day again - but if I start posting these charts to get laughed at, I can at least track their progress and determine whether or not my thoughts are along the right track more often than not - or vice versa.  I am hoping the charts speak for themselves - to save you lot...

Hey guys,   Thought I would give this blogging thing for the first time!After reading so many good blogs and posts, it cannot help but inspire me to try the same. The worst I will do is learn, the best I can hope for is to give someone a trading idea for the upcoming week or months. Right now as it stands, I look at alot of charts, I annotate most of them, but only post a few on the board. This means that alot get lost in files never to see the light of day again - but if I start posting these charts to get laughed at, I can at least track their progress and determine whether or not my thoughts are along the right track more often than not - or vice versa.  I am hoping the charts speak for themselves - to save you lot having to...

Just a quick heads up but from Tuesday I will start my "charts chool"...it will start with the very basics of charting and offer a full support service via my own email account where I will be able to "tutor" a few individuals who have the commitment, time, dedication and passion for charting. I've neglected the blog for several weeks and I've always got my enjoyment from learning and teaching the art of charting. It will comprise of links, charts, but the most important aspect will be the vidoe charts so you can see how it is done "live" ......look forward to my first blog update on Tuesday....I always like people to teach me as though I am a "numpty" or a "dunce"...it's better that way as you learn and then have a reference point to revisit.   Ok here's the first few vids covering:- 1) Advfn charting..how to register and access charts http://screencast.com/t/xti83UaF 2) Timeframes...