I'm short from 1505 based on the failure to hold 50% of the rally - holding for now, could see a retest of the low - Dow leading things down. Stop at 1509.25 but I have my finger on cxlr to bail out long before then. 1:48 - moved stop to 1505.25, still have cxlr market order on screen to bail. 2:00 - bailed at 1496, couldn't take it anymore, first good trade in a while - might reshort if we get a retest of the intraday downtrend line around 1500.
Lamont, a good attitude. For a long time NQ had so many false breakouts that I got leery of trading them. But I have been lately including today. I learned a lot from DB's postings here, and was sorry they ran him off. Who cares if he was a prick or not, he fostered excellent dialogue on classical TA. nA man sfter my own heart who reveres the early '30's book.
Eusdaiki, I laud your efforts at sustained focus. But I think it is best achieved through serenity and tranquility, and I don't think you are experiencing that given your hair trigger trades. Now don't get me wrong, I LOVE fast trades, but on in the right kind of market. Please tell me what kind of charting you are looking at that prompts your frequent trading. It is good that you are simming!
I think Eusdaki need to keep his finger off the mouse button unless he is sure he wants to make a trade, judging by the one trade where he covered and reestablished a position within 2 seconds at the same price
Funny thing about that. When one is surrounded by pricks, one is far more likely to behave like a prick than if he is surrounded by grown-ups who know how to conduct grown-up exchanges. The powers-that-be at ET have never understood this, and even those who strive like hell to maintain the high road inevitably sink into the childish silliness and usually leave, which benefits no one.
Downtrend off the high is broken - I was in the bathroom when it was retested so missed the chance to give back some profits on that 2:10 down bar - now looking for a good chance to reestablish a short at a Fib level - 1504.50, 1507.25, 1510.25. To clarify - that was a congestion downtrend line ignoring the spike up at 12:48 - if we take a line off that spike and the days high, we are testing that TL now (2:21 ET) 2:27 - hmmm we seem to have found horizontal resistance at 1502.50 which coincided with the outer downtrend line - which was also roughly a 1/3 retracement - missed that one. Sold off there but is rallying back to the TL - watching closely. (I prefer Fibs in the NQ, but sometimes the old-fashioned 1/3 and 2/3 work when they coincide with other signals.
Heartfailure! I was short at 2:31:55 ET when some asshole (defined as anybody holding the opposite opinion than I do) flung 531 long cars. The MMs (whom normally I loathe) stoodfast and down she continued to go down! More Gloria for the wine rack!