Just as I won't take a trend trade when it's what I consider "late" in the MA cycle, I will not hesitate to enter on a r.o.t. trade for that very same reason.
I edited my previous post and exlplained the FMB. It usually bounces 1.5-2 or so points, and a good place to get out and if the bounce happens, reshort. Looks like we had a 1.75 pt bounce this time....
This may sound crazy....When I saw your posting, it stopped at 75.5..... Lo and behold, your reason for the taking the profit appears in the same posting....I swear it was not there earlier ...are you posts delayed? That is why I asked the question related to BB/Williams. I may be going nuts:eek:
I have the bad habit of posting and editing it later, that's why it wasn't there first. I don't edit price though... Here is my futures chart, showing the FMB. I put 3 dots there, the first 2 is the 10 points difference, thus the 2nd was the short entry and the 3rd dot is getting out because touching the futures middle line: So the bounce was 2.5 pts from the line and currently we went below the line at 75.5... Edit: and now 73.5 Edit: This 74ish is another good place to get out (if someone was still short) because I have a Williams long signal
pekelo, chart posted is 5min with standard 20 period 2 std dev bolly bands? that line in center (where it bounced) is not 9sma, right?, it is 20period xma.
It is nice when we go according to plan, currently above 77... Yes, 5 min with 20 on the BB. The line in the middle comes with the BB, I am not even sure how it is made up, I think it is just the medium value of the 2 bands.... Edit: By the way about 20 minutes ago we had another FMB, but this time from below at 76. We dropped 2.5 pts then went through the line, currently at 79...