Exited remaining ZN's. Probably done for the day. UPDATE 0911 CST If I had to hazard a guess, due to the incredible lack of follow through to the upside, I would say we may visit the 110 24 low again soon. 0918 CST I count 1 failed attempt at a high at 0855 and possibly one now on the 0920 5 min bar. Let's see.
Bought 8 ZN's 107 080. This is a quick trade. Just looking for a small spike as stops are hit. UPDATE 0931 CST I'd really like to see a kiss of 107 100 before closing these.
0938 CST Done! Calling it a day. What a great day! My only mistake today was getting in late. Parting thoughts: Follow through to the upside at each break of the highs has been mediocre at best with a lot of backing up. I still say there is room to the downside. Remember though, I'm done. I traded within the direction of the spike only today. The release tomorrow is going to make for an interesting day.
Wednesday 20 September 2006 Price Projection Numbers 111 24 110 12 109 01 Important numbers from the last couple of weeks 111 08 111 04 110 28 110 21 110 08 110 01 109 29 10925 My bias is neutral for today. Let's see what happens. Personally, I could see myself setting an alarm for FOMC time and walking away until then. I really don't think I'll trade much this AM.
Need to see a little more movement, else will exit quickly. This is a quick trade. Taking advantage of a brief pop up. UDPATE 0802 CST Need to break 107 155 in the ZN's and 111 09 in the ZB's.
Food for thought. Here is a 3 min chart with standard MACD. This is the method they are talking about on another forum post here. There is a little more to it than my chart presents, but it is interesting to note the strong buy at 0730. Also note that you would probably lose your shirt if you didn't trade this with some other discretionary method. The signals aren't always as clear as this chart depicts.
OK, I'm getting ready to exit all positions. Order to sell 1 at 111 09 is in. Waiting. 0814 Out of 1 ZB. Holding the other. Would you look at that time and sales! 0817 Out of 1 ZB. Not bad. 8 ticks in very little time. If you go back to the beginning of my journal, yesterday, and this trade just completed now are my bread and butter types of trades.