have you ever read the edwards mcgee book?do you even know what an inverted hs looks like???Obviously not and nor does the idiot in the video...That chart doesnt come close to an hs ...people using esoteric terms not even knowing basic crap about charting is basically what the problem is with a lot of ta and charting-everybody bends the rules to suit their predictions...what a joke...
Continuing to cycle short positions in and out as we probe new highs......sold 867's to 869's this rotation up.
So based on your posts, you fight the trend by continuing to average in each time price goes further against you, and you never use stops? All right in front of the FOMC announcement?
Ok...cycled positions out with initial news release drop to 868's and now have new position fills at 873.50 and 874.50 with new high.
The news had the market trade to 868's so I cycle positions out and clear out remaining at b/e plus one tick on each new high attempt.......Short positions I have on now are at 873.50 and 874.50. Positions entered just above the previous high.......I will will keep doing this for each new high for today. First major target is now at 868.00 for just over 5 points. BTW....I do not FIGHT the major trend.....DOWN.
Yes but news gives excellent price reactions/volatility........traded it live calls in the AIM chatroom that some of the ET'rs from the ET CHAT had set up the other day.
ES 863's all filled for just over 10 points.......next target is at 858.00........then last 50% of position I will let ride according to daily price action.