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TFC Commodity Trading Forum

Re: DXZ12 /Nat Gas/Living under a Bridge
In Response To: Re: DXZ12 /Nat Gas/Lee ()

Well there really aren't any 'experts' out there just chart interpreters. There are patterns within patterns within patterns. Break them down and you can see a bullish shorter term pattern within a larger bearish pattern. In the end it depends what your trading time frame is. A more patient person (unlike myself) doesn't worry much about a short term bearish pattern and uses wide stops if any and catches multi month trends. I don't see a Cup and Saucer or Cup and Handle really.So far I see is what could be called a Bear Flag since it's bounce off the Fib 50% level and from being very oversold. Plus the 3 oscillators are below their center lines as well. So until price clears that downtrendline the chart is bearish with price at resistance. Saucers tend to be slow and smooth and after bottoming out turn up and look like the bottom 1/2 of a ball. Cups are similar and tend to have a handle on them on the right side and once the handle is cleared price tends to rally strongly. The longer the handle the more bullish the pattern. That's all these old eyes see presently. And patterns often evolve from one pattern into another.