Not selected but spent half the day there. On deck again for selection process tomorrow. Perhaps Friday before any trading resumes.. Looks like it was an easy 25 plus point day..short at open, reverse at 37, reverse again at 56 and cover 46.. precisely what I would have done...
Drug dealer pleaded at last minute so off duty.. Looks like a very nice break of TL I wish I was here to take.. watching now.. a long signal around 58 would be nice..
All indexes clear breaks of Loooong declining TL's. NQ "should" run into temporary trouble at upper TL. I remember ammo's 1777 price level also. Start of new uptrend so there should be plenty ahead to allow patience to wait for proper pullback and entry even if I have to wait till tomorrow/Monday.
Sim Trading this week. Morning Prep... Wedges everywhere although still an uptrend. Not the same type of advance as we had last year. Volatility on this move much higher than the last 1740 to 1790 move which should mean a breakdown as wedges also indicate. Breaking and holding 1790 will change that IF it happens. Will also watch 1767 area as make or break for this current drive. Below that, back to 1756 area then who knows. Game plan.. take any short signals above 1780-ish as close to 1790 as possible. take long signals as close to 1767 as possible.. take short signals under 1767..
Food for thought: Learn and use candlesticks Use 20 simple moving average and never trade against it Learn to recognize patterns using candles......head and shoulders shooting stars hammers
No time frames shorter than 5 minute Stop using too much information All oscillators lockup overbought oversold on trend days or extended runs....become worthless use the 20 trendline
Individual Candlestick relationships while helpful are the least of my issues at this time. I never intentionally trade against the 20.
I prefer tick/volume charts. a 3200tick is sometimes slower that a 5 mins depending on activity.. point taken.. if you can't see it on a reasonably long time-frame, it may not be worth seeing. I don't and haven't used oscillators is months. Thanks for your comments.
Sim Trading strange... 1789 to 1801.. Net 12 points.. complete control of course.. Trendline since Friday unreal. YM/ES either ES doesn't make 1100 or YM gets through 10250?