haven't looked at ET for a while, but this thread popped straight up. Surf never stops giving, cheers...lol ave long 10 @ 13083 bail point (under) 12998 on full 5 minute close under that. had plenty of chance to take 3k+ sim profit, but hubris got the better of him-to wit, his post this morning at the peak of a little early jump, expecting it to go to the moon-whereupon it promptly dropped 100+points.
No, i closed the trade at 12974-- out and flat. You gotta be involved in the process to win in this game--- next long entry will be triggered on a break above 13003. surf surf
Briefly checking the markets once in a while here and it looks like as YM tested last week lows with strong volume spike being 100+ points ITM it's logical to move stop-loss on my hypo short to break-even or slightly worse (above near support on daily chart for example) or scale some out (up to the trader's choice). TA rules! Back to having fun, have nice holidays, gentlemen!
Your entry is based (at least partly) on break of a specific price level? Looks like technical trading to me.
My long bias is not based on technical signals in the least--- the only way to define an entry is to assign numbers to it-- I see this as descriptive TA not predictive. surf
As I remember, you posted a chart and pointed to a volume surge as being informative of your "call." Am I right or am I right? Moth to a flame, dude. Moth to a flame.
No you are completely wrong. The chart was posted to show what happened after the price drivers placed us long the position, the volume surge came well after the entry. Price Drivers anticipated the upswing, just like they are now screaming BULLISH in the U.S. stock market--- this has nothing to do with past price or other TA mumbo jumbo--- TA is used to describe what has occurred not to make decisions.
I.e., "price did not break a key technical level, it's going up." Sounds like a classic breakout trade. Whatever, surfer. Let's not mince words here. I certainly hope you're able to appreciate the humor in what you are posting here. Continued happy holidays and good luck on your breakout trade.
Ok, our upper line at 13003 was pierced but not broken by a full 5 minute time block, therefore we remain FLAT the YM here and now. Awaiting long entry in the YM. surf