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xburbx
Registered: Oct 2004
Posts: 726 |
06-19-09 12:53 PM
steve,
do you always have a 200ma on your chart as a strong reference point to add confluence? i missed both of those trades yesterday but the setups were there at both spots but i wasnt quick enough. i caught the short of the IB EOD on the 1min retest. Just curious as to why 16 was a logical high? the reason i was looking to short it was because it has a 2week value extreme at 915 and it looked like a 5min probe to me over that level.
To the above guy looking to add this to your favorites, click the subscribe button on the bottom.
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babykuttan
Registered: Feb 2008
Posts: 12 |
06-19-09 02:42 PM
leapup,
in the bottom you can subscribe to a thread and you can always go to your accout and view them, also you can email every time someone posts on a thread you subscribed to.
hope you're enjoying Generals thread. I am and its is interesting.
hope it helps.
JT
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stevesbg
Registered: Feb 2009
Posts: 300 |
06-19-09 05:57 PM
Got a moment here before things heat up
The open was a grind, with retail covering shorts and options players moving inventory.
As can be seen in the attached chart. Price hit my S/R lines and retested a couple times. The rest is up to the individual player
$Vold and $ADD kept me out of the early chop and confirmed both retests down.
For those who watch other indexes, the $SOX (Semiconductors) also gave a nice signal.
Close to another 10 pointer
 snapshot-90.png
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stevesbg
Registered: Feb 2009
Posts: 300 |
06-19-09 06:35 PM
Here's a simple chart showing price bouncing off the 200 just now
Unfortunately there is a single above near the IB low (917.50), and THAT combination (confluence) usually signals resistance.
If that single fills in, I should get a nice ride back up to the highs
I would say the odds are against me, so my position size is small and for those who would ask why take the trade? I already have a payday, so I get to take this one knowing I can scratch the trade if I need to.
Edit
and as it worked out I got two points best scale out on the front end, and scratched the balance as it retraced to my entry
snapshot-91.png
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MandelbrotSet
Registered: Dec 2007
Posts: 7246 |
06-19-09 07:33 PM
Quote from stevesbg:
Got a moment here before things heat up
The open was a grind, with retail covering shorts and options players moving inventory.
As can be seen in the attached chart. Price hit my S/R lines and retested a couple times. The rest is up to the individual player
$Vold and $ADD kept me out of the early chop and confirmed both retests down.
For those who watch other indexes, the $SOX (Semiconductors) also gave a nice signal.
Close to another 10 pointer
Great thread stevesbg, and you're giving out some really quality information here.
I've used the $ADD (Advancers-Decliners) and the $SOX (Philadelphia Semiconductors) in the past as well, and I find that many good traders use them also. I have also used the TRANS (Dow Transports) as a pretty good secondary tool for trading the ES.
But for simplicity I have found that keeping my eye on the DOW (Dow 30) - which you've mentioned in the past - is the simplest and best tool for me to use. It gives very good idication of when the market is breaking out to the upside or downside (+/- 40 pts on the Dow vs its Open) and signals reversals in the ES very quickly, unlike any of the aforementioned tools ($ADD, $SOX or TRANS).
Good trading
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LEAPup
Registered: Aug 2008
Posts: 4137 |
06-21-09 08:37 AM
Quote from babykuttan:
leapup,
in the bottom you can subscribe to a thread and you can always go to your accout and view them, also you can email every time someone posts on a thread you subscribed to.
hope you're enjoying Generals thread. I am and its is interesting.
hope it helps.
JT
I don't do this often. But, I owe you one! Thanks! My computer skills...
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