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It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. Henry Ford


Those who surrender freedom for security will not have, nor do they deserve, either one. Benjamin Franklin
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The idea that you know what is true is dangerous, for it keeps you imprisoned in the mind. It is when you do not know, that you are free to investigate. ~ Nisargadatta Maharaj


Tuesday 30 March 2010

JPM China



Here is another TAS formation(see IBM chart) This stands for 'trading against a spike' and is credited to Bill McLaren,who wrote 'Gann Made Easy')After a counter-trend reaction the market spends at least twice as long in a resumption of the main trend ,but is unable to make a new high (or low) A reversal pattern is then awaited in anticipation of trend reversal.Breaking the low of the gravestone doji could be regarded as a completed reversal.

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