Kid, For patterns and good risk vs reward plays you need volatility today was a very dull day, albeit very much expected. We had three trending days in a row, that's the exception not the rule. As soon as you see swings lasting minor points and trend changing back and forth like some bisexual without a clue, then you know it's time to sit on your hands. Anek
J, Woa is that chart like that or are the stouts making it look psychodelic! Good call bud, I saw that one coming around noon today but wanted see the LOD hold first, and hold it did. Anek
Blue, Read a post above where I describe how to call the chop. One reminder, I had some minor losses today, sometime it's inevitable and you can tell only after it's happening. Here are a few tips: - On the big charts, is price trapped and congested? - Any triangles around ? - Any rectangles ? - Is the market clear on the current direction ? - The daily range is it tight ? as in narrow ranged day. - Was the previous day range a wide one ? - Are immediate trends changing every 30 min ? - Are all the Market E-motions lines crossed like if it's no mans land ? good example today was NQ Hope it helps. Anek
But... there is a way to trade them as after all it is a trend, just on a smaller time frame. Is this smaller time frame just not worth the points per click for you?
Depends on the risk and reward, possibly your #1 question before you pull the trigger. Remember, there is a little something call commission we must beat time after time. When I take an NQ play I usually look for a target of 3-4 points minimum, anything less and I'm not interested. Unless of course you are talking ultra scalping and that's another discussion all together. Anek
Gotcha. Just wondering. That's not really what I should be focusing on right now anyways and probably the same for most people in the journal. As always, thanks for encouraging (and not punishing) curiosity.