Tuesday 1st April 2014 Pre market open We are slightly above the long term daily channel bottom. We are testing the middle of the hourly up channel from the 27th of March, and the mid point of the longer term down channel. Should be interesting to see the reactions at this point.
Tuesday 1st April 2014 NQ100 1 min chart review 1. We opened quickly upwards, until we reached 18. 2. Then price retraced and gave an opportunity for a long about 14. 3. Price then continued upwards, holding the DL until it reached 38. 4. We had a DL break and retracement for a lower high, and an opportunity to short. 5. Price rambled around for the rest of the hour with no big movements. Today was one of those easy SLA days. One really good entry, and a smooth ride for 20 points.
Not at all. Not even Sim trading, just observing in real time. Days like this are not much use for learning. It is the choppy days that require proper trading ability. I will not be trading this method or any other, unless I can prove to myself that I can be consistantly profitable whatever price wants to throw at me.
The Hanging Hammer of Babylon obviously coincided with the White Cross of Deception to trigger the long But seriously, I am not surprised that different methods can trigger the same entries, since the behaviour of buyers and sellers can leave many clues to expert eyes. Good to see that your CL plan is adaptable to other markets.
2nd March 2014 Pre-Market A big rise yesterday through the midpoint of the recent down channel from early march. Currently testing the top of the channel and possibly heading for the midpoint of the long term daily channel.
Wedensday 2nd April 2014 NQ100 1 min chart review 1. Opened quickly up to 65 and rejected strongly. Moved up for a lower high and fell back into the channel. 2. Returned to below the opening high and rejected making a lower high. 3. Again we returned to the opening highs but couldn't get higher than 68. 4. Demand line broken with retracement for a short opportunity. 5. Stopped at 46, turned upwards to break the support line . 6. Eventually we stopped at 60 and slowed down into a range. No big easy trends today. A good day for trying out stop losses and scratching. Managing these kind of days is the key for me, although it was not the most choppy that I have seen.
Thursday 3rd April 2014 Pre-market Review The price is sitting on top of the hourly down channel from the 9th of March. We may fall again towards the mean of 3600, or rise to the long term channel mean around 3700.