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TFC Commodity Trading Forum

Re: Sept Nat Gas/ Chewing at Resistance/Tricky *PIC*

Thanks. But everyone and his dog posts run of the mill copy and paste charts on hundreds of websites to the point there is little point in looking at them all. They are usually selling 'something'. Always easy to find a bearish chart pattern if selling bearish or a bullish chart pattern if selling bullish. There are chart patterns within chart patterns and one can focus on a variety of them to prove your point easily. Makes for an easy sell with whatever you are trying to sell. I"m not selling anything so don't care what I post other than what I think is important in what a chart is saying 'overall'. I don't try to be right about anything and don't "CALL" markets as my ego doesn't need to be stroked. I just post what the chart pattern is saying 'collectively' with all the various patterns within it. But yes manipulation is extreme with everything. Doesn't mean the chart doesn't track their footprints as there isn't anything else that really does. What is missing today is common sense trading/trending and economics. It's like when you get over your head in debt or water and you have to panic to stay alive. All common sense on dealing with the situation rationally is out the window and you just thrash anyway you can to stay alive financially in markets or physically in water. That's what is occurring now with the markets. I hate saying this as since the beginning of time everyone has always said "It's different this time". But it really is different this time around with everything. Just the fact that the economics from the financial crisis in 2008 hasn't yet resolved itself and improved like every other time in history. This shows it's different this time and everyone is just grasping for straws and thrashing economically. And all markets are gyrating with uncertainty and manipulation in many ways. Add to that high frequency trading and elimination of the uptick rule and a variety of other changes and you have got "chaos" in the markets. Nothing is real anymore. Prices gap up and down and then trade sideways due to this. The charts will show this and chart pattern recognition is important to see what each market is saying but the trends are shorter and shorter and turn on a dime now. DX will make or break most markets and is a wild card in itself regardless of the market you are tracking. A breakout with DX now could easily occur with the Euro selling off again and trash inverse markets hard. Or some fabricated, manipulated b.s. good news story out of Europe could see the Euro rally and DX selloff hard which would see inverse market soar. The Euro is about 57% of the DX make up so is the determining factor. The rest of the currencies making up DX go along for the ride. The spread between a breakout and breakdown now is less than one point. NG isn't affected much by DX so is charting nicely but is still in a bear market but in a bullish chart pattern regardless with potential. "IF" price breaks out over 3.15 and runs up there will be a big news story in the financial press to 'explain it all away'. I stopped listening to 'stories' a long time ago. Good luck with your trading.