and all I'm trying to do is scalp, just hit it by accident, it might still be going up, who knows? who cares, I got more than I need for the day. Anybody want a party?
I had r pegged at 902 and then again at 905. I missed the first one and then lo and behold it was already breaking up through the second one. And that little ride made my ever loving scalping day. (It always helps when things move too fast for me to screw them up.)
In my little world, a couple of handles looks like the Bank of Gibralter (those 2 tick losses make EVERYTHING look big!)
good for you profitseer. glad someone did well on that breakout. i got caught wrong-footed, having watched a beautiful head and sholders setup develop and went short at 901.50 when it dropped below the neckline. Got out of it relatively unscathed, but missed the entire move up.
Yeah crazy, I'm using 1 min charts. I saw a kind of head and shoulders, but I don't know that much about trading them. I tried to go back and figure out where I came up with r at 905. That was a little line I drew back around 11:30 chi time. I just set the trend parameter at extending and forgot about it, and it showed up again in the afternoon to help me out. Don't know very much about head and shoulders, but I know some traders say they are very reliable. (Don't know much about breakouts either except I gave up on them after being falsely aroused numerous times. So it was fun to finally hit one.)
on the 5 min chart it is REALLY clear..take a look. normally very reliable, still not sure what provoked the buying frenzy just as the right sholder dropped below the neckline(reason why i went short). just couldn't find it in me to reverse and go long.
crazy i saw the same head and shoulders which gave me additional confidence to take a small short position on three different equitys for a swing trade into tomorrow Sep 11th....then the @#$$&** ES reversed and ran up. they were comparing Jul 4th (scare) / Jul 5th (rally) with Sep 11th / Sep 12th this time around on CNBC today. looks like the elephants are going to shake out some money (including mine probably) by taking the market up one day earlier then expected. hope not but i think odds are there will be some terrorist attack on us interests somewhere around the world tomorrow.