Actually days like today I tend to throw out any technical strategies or pre-planned entries/exits.....you just can't predict what will happen in the minutes and first hour post such events. Sometimes that holds true in the afternoon sessions these days in general based on how things have turned out in recent weeks. That said, my tech setups worked well (had I traded 'em) after 3PM today --- but from 2:15 -- 3PM? Totally worthless....as expected.
Well here is tomorrow roadmap folks. Doubt we going to have another big drop tomorrow so I am expecting range day. Good luck trading.
A picture worth a thousand words so I thought I would post pictures showing results of the roadmap posted each night. At 6:00am pst Big Bad Ben Bernanke open his mouth and told the bank folks in Europe that he will do whatever it takes for them to access capital relieving of any possible liquidity problem. Thus prices zoom past some of my short lines. I waited for the next line to come into play and shorted there, Later in the afternoon m the ym long line came into play capturing a good move up.
Unfortunately, whether a day is going to be a "range day" is not always apparent until well into the trading day. Not only that, range mornings can turn into trend afternoons (and vice versa). Yes, this can be a tough business!
I find that the best time to fade are premarket and earky morning. Like you said range morning can turn into trend afternoon. Here is tomorrow road map. Where will the market goes nobody knows. But if u follow the road map at least you won't get lost. Good trading to all.
Heh folks have been busy and have not posted the roadmap. Here is the one for tomorrow. If you want to receive them via email just drop me a line. Good luck trading. We'll se how the roadmap performs tomorrow. Buddha
Here are the results so far this morning: Setup: Short ES 1491 at 6:48AM is a winner Short ER 786 at 6:46AM is a winner Short YM 13430 is a No Trade Short NQ 2114.75 os a No Trade Both of these are No Trade because occurred around 12:50AM. My setups are meant to trade from 4AM(pst). Later