Daily Chart Outlook for March 4, 2010

Analysis of the Daily chart
Remember that we trade a much smaller time frame and many good trade-able cycles can occur within the bigger picture
Generally watch 1 or 2 time frames above the chart generating signals
Entry and exit signals from 1 time frame lower

Cycle Trading Basics

Bigger Scheme Cycle Trading

Favorite Setups - 15L/45L

Staying in the Trade

Do you have the composure to stay in a Great Trade?

Favorite Setups - 15L/45H

Favorite Setups - 15L Reversal

Favorite Setups - Edge Histo

Favorite Setups - Triple V

Favorite Setups - Igloo

Favorite Setups - Fisheye

X - Massive 45 Glide Pattern

45 Glide - 45H moving up slowly while price continues to fall with conviction
15H will try to move up through zero but very difficult to overcome the weight of weak 45H
15L still below 45L

5H moving down through zero - look for more short term down

Petro Canada (PCA) Monthly Weekly Daily

Comparison of 3 higher time frames of Petro Canada (PCA) - each chart will be described in detail below - click chart to enlarge

Upper Window - Chart Bars with Bollinger Bands

Mid Window - 5 Histo and 45 Histo (5H and 45H)
- 5%K Line and 45%K Line (5L and 45L)

Lower Window - 15 Histo and 45 Histo (15H and 45H)
- 15%K Line and 45%K Line (15L and 45L)

PCA Monthly

Long term up trend has gone through mid 60 BB and reached lower 60 BB
5H weak and 5L still down
15H and 45H still down
15L and 45L down
any attempt of 15 turning up will turn back down beacause of 45 pressure

Laymen's terms - probably reached a support level here but still lots of down pressure - monthly outlook is sideways

PCA Weekly

Weekly is finishing 15 edge histo down and getting ready to turn upans illustraded by the 5H getting close to zero and moving up
However, down pressure from the 45H will cause price to come back to 15L low

Laymen's Terms - Weekly getting ready to turn back up but will be difficult and slow. Watch for longer term return to lows