reverse head and shouders

[#1]

with a target of 23500

[timba]

on which chart time frame are you looking at, as i am not seeing anything on the 5 min??

[#3]

yes its there!

[JDT]

I guess this drop below 23100 nullified the formation

[#5]

yes fraid so......failed at the meckline which as a set up is also a great trade the other way...

[#6]

Yes and thats another very important tip...don't enter a trade till the formation is confirmed..usually by a pull back to the breakout....

[SimonPB]

an a kangaroo tale at the 12.05 bar.

[#8]

bear in mind Lehman are bringing their results out today (1 hour's time), a week earlier due to the wallopping on their share price yesterday. They would not do this unless it's gonna be good for their share and the market. Soooo I'm expecting a green close for us and a strong dow open....whether it will last into Dow close however is anyone's guess. ADIOS!

[kwagga]

The market has already discounted the news in - Lehman Brothers (4th largest financial institution in the US) dropped 44% yesterday. They have also pushed the 3rd quarter results publication to today. The only solution to them is to sell good assets which value are disappearing like hotcakes and close shop - like Bear Sterns.

[#10]

no bruce this kangaroo looks like its going even further south than where it came from...we still have that head and shoulder target ...before we get there my longs will be limited to scalping when the fear is at its worst...

[_nova]

Well Lehman's 3.9bn loss certainly didn't help. DOW is now flat after being up a 100 pips on futures. FTSE and DAX have both dropped quite a bit the past hour and we still have to catch up. I wouldn't be looking for a long right now, not even a scalp

[_nova]

DOW futures just dropped 50 pips inside 5 min. Not looking good

[#13]

Nova luly scalp right now.....22905....

[john_1]

A Pip is somthing found in fruit, fruit is another term for a gay man and we all know were this is going...so before I get there please refrain from such talk. its points... thank you.

[timba]

i so wish to know what informed that decision chartist...cause clearly its working

[#16]

hehe...luvly...210 pts in 5 min....

[#17]

John now u know why despite your best efforts I wont have sex with you...I would imagine you saying something like "please felate my member"...just not sexy...pips is a completely acceptable term...

[timba]

was this driven by volume or something else, cause i did not see any significant spike on the dow,... expect maybe on the ftse

[#19]

timba ...no nithing really...for scalps I look for a set up on the 5 min tick chart..I higher close ...then another higher close but the second bar must be higher than the first...when u are this oversold the merest whiff of a bull can send tired bears back into their lairs....

[timba]

thanks for that chatist my man...well done again!!!