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TFC Commodity Trading Forum

Re: NgK12 Watch 7-10/TIMWAR/Lee *PIC*
In Response To: NgK12 Watch 7-10/TIMWAR/Trades ()

Here is May Nat Gas. The scan I use is with Stockcharts not Qcharts. The Scan like all scans must have exact requirments to decipher what qualifies or not. So a random inside day now and again can't be put in a scan that I know of. I think 7 days with higher highs and higher lows without any further compromise would be superior in any case, not that it matters what I actually think or not. But I have noticed in strong pronounced downtrends this pattern does not seem to work well with what I've seen. Nat Gas has done this more than once and so has Cocoa which had two of these in a row that were violated for a buy in a downtrend and nothing happened that was actually tradable. One can still take a position on them all with a stop loss as if you believe in something you really should take all the signals instead of 2nd guessing them and trying to cherry pick some. Or one could also use support and resistance pts to trade once a signal is generated along with other indicators. As far as the stock scans that brought up a multitude of stocks awhile back that I posted as I suspected that Monday of March 19th all but 3 of Friday's 16 stocks that qualified did not show up on Monday's scan which means they triggered a sell signal by having a lower low. After that there were no selections on any U.S. or Canadian exchanges all week until Wed 28th that selected one (FDO) That didn't show up Thursday which means a sell was signaled as it must have had a lower low. Then Thursday 2 showed up again (BDN & KO) No selections Friday which means both of those from Thursday signaled a sell signal as well. That's how it works when using a Scanning program. And they also exclude any market that has an inside day as that means it did not have at least 7 days of higher highs and higher lows. (No compromising) So that's how it works with a Scan. So Nat Gas simply continues its downtrend like it has been going to hell in a handbasket. Nothing much has changed. Note price continues to bounce up to the falling 20ema which is typical in all markets and rolls over again. Price also tagged the mid Jan low breakdown price point at 2.50 and rolled back down again as you can see which is also very typical. Same old song day after day,week after week,month after month with NG.