Multiple Posts Below From Today Very Busy

Chart From August 14 2009 Below

Chart From Today September 30 2009 Below

Check out these two charts. The first is from August 14 2009 and the second is from today.

Do you see any similarities?

This is by no means a trade setup or indication of what might happen. Patterns do not repeat, people and their habits repeat. The patterns we see are the footprint.

The similar patterns are just a reflection of people buying, selling, and covering in a similar way.

To be successful intra-day, it is important to project and speculate. Most traders see and react. This is often a losing strategy.

Whether today's action sells off or moves up is completely random.

You can trade this with an edge if you understand the structure.