Inside technicals and chart patterns by 
Yeah…we all know who got a lifeline thrown to them…the brokers. Christmas in September. Agree with the 50 basis point cut or not — I mean we’re traders, not policy makers — just play the price action my friends!
I hear a lot of whining, a lot of armchair quarterbacks…whatever. Look at the opportunities instead. I trade it all: forex, futures, and stocks.
I play reaction, I don’t try and predict it.
Let’s look at the brokers.
This chart is ready to break, not there yet though so wait for price to break up through resistance.
This 240 minute chart shows the resistance play. Prices have broken up through 200.00 and the past double top has been broken. Sweet! Look for 200 to act as support here.
Lehman broke out today but I had to show this set up from Autochartist. it just doesn’t get much better than an asymmetrical triangle like this one as price run up through 60.25 - resistance is waiting at 64.50 and 66.00, so heads up!
Ok so this play is behind us but I just had to share another great chart pattern set up. This triangle broke from congestion and is on it’s way to the 70.00 upside prediction region.