There was a strong sell signal @ 10:19. I hope someone caught this. I was on a call and could not post it. It was there and there was a nice move down. Sorry.
Breakout, Going to bombard you with questions. No problem...happy to answer if I can. What is you normal stop loss? 1pt.? Just depends on the entry...usually 4 ticks, but sometimes 3 or 5. But, I usually pass if I have to risk more than 5. The idea is to place your stop 1 tick above/below the most recent high/low of the Dbl bottom/Top. Below is a chart from 6-12. The 1st setup had 4 ticks risk and the 2nd setup had 3 ticks. Do you get chop around a lot? Not too much, you would be surprised how often 1 tick above/below the most recent high/low will hold. If you get a signal and get stop out but the signal is still valid, do you take the trade again? Sometimes that will happen...price will hit your stop and then go right back to where you were. If the indicator is still showing a Div/Conv, I will usually give it one more shot. -------------------------------------------------------------------------------- Breakout, A very late thanks, finally have some time to catch up, I appreciate your answers.
Stop 978.75 Took my +2 points. Stopped out on the way back up. Sorry.Screwed up my numbers here. Lot going on. I only got one point +1.
I am long in the trade I exited @977.50. Still on my the phone and it is not possible to post it in time. It was an obvious set up. Stop to 979.50 . Have to leave soon and want to lock in the +2. I have to leave, will exit at 981.25. Stay with this one. Sorry for the poor posting on this, could not help it. I will post the chart if anybody missed it. +3.75
You most certainly did. What is your stochastic setting and is this your preferred time frame ? Great chart! Thanks, Walter
See my response to him. I can not give the advice without seeing his MACD plot also. I will answer all questions, unfortunately I have to leave for a meeting today. I probably should have not been here. I was not completely focused and as a rule, I am trying to not have any distractions when I do this. It is not possible today. Sorry. Will try to take a look at it before I go if he reposts with MACD.