YM trend is up, in a clear trend cannel. Trailing stop could be set a 13150 (trailing on grid). Thats a 70 point trailing stop for swing trading. Current high at post time is 13220. --------------------------------------------------------------------------------- Historical study (5 days timeframe): Despite the big moves it was possible to trade against 40 point YM moves with a target of 40 points (trailing) and applying stops at 100 and good money management. Is someone here who did exact backtesting over a longer time period?
ER2 is looking weak. Trend seems to be down (not in sync. with the other top indexes). Big overhead resistance band 829 - 831.
================== gg12; Residential construction stocks are amoung the best downtrenders; SPY just hit 150.00 in its uptrend, regular market hours, but yesterdays up trend was on lower volume.
murray Trends are still up. I dont look at volume these days, because I found no relationship between trend and volume. Do you have backtesting statistics to prove some relationship? Thanks!
YM yesterday. I used a 5 point grid. I calculate a wave starting with a length of 10. I have added some signals (hindsight).
ES is still up. Also the overnight level keeps high levels. In attached graphics I used a 0.5 point grid to check for waves. The waves have to be of a minimum length of 1.0 points (plus traded trough). That is that I can make sure that all ticks are traded (border ticks of a wave might not be trades ie for limit orders).