Absolutely, the market was definitely respecting that one. Once it was violated I started looking at the "wider" one from 8/5.
9:45 short rocket, waited for synch 980.75 9:55 rocket failure (stoch) C&R @ 981.50 (-.75) (I noticed later that this was also a failure to traverse). 9:59 chicken, plain and simple. wash @981.50 (0) 10:25 stochs cross 50, downtrend failure nearly confirmed, macd over .4 long @ 983.50 (my lack of faith in the failure sequence cost me 2 pts). 11:02 Volume not picking up the way I think it should after crossing the two major trendlines on the 30m (from the 7th, and from the 5th). cover (no R, need a break) @ 987.50 (+4pt) (edit: changed times to all est. tws stores everything in local time) --laz
For the past two weeks I've had data feed problems and had to switch vendor. Currently trying out QCharts & Sierra. Thanks to everyone for the great contributions. Posting your thoughts helped me catch up on things, so I will use the same format. I switched from candles to bars as I find it easier to see the big picture (candles make you focus on the colors too much). 9:45 rocket signal -> fine tune entry -> waiting for LOD bk (9:47 1m bar) -> 2m later 1m MACD x up -> wait for pt 3 This was good for reversal into CCC/iceberg with 5,2,3 supporting. 10:07 FBo down (1m) -> riding support, no stops on log 10:20 BO -> stoc at 50 -> waiting for bk of 10:23 bar -> long 984.00 10:28 -> rocket -> pt 2 at short channel since yest open -> no flaws to pt 3 at 10:38 -> trav left -> stall at yest afternoon high -> trav right -> fail trav (marginal new high at 10:51 on low vol) -> 5m MACD convg -> exit 988.00 Day +4.00 Early exit (hair trigger) , legitimate exit on11:00 bar on fail trav -> MACD x. Stochs in the zone all this time -> wait for 2nd pt 3 warranted -> came at 11:15 -> fail trav 11:20. Cheers, vorzo
1. short 981.25 (break down after synch) cover 982.00 -0.75 2. long on the mini range break/reversal (call me chicken to..could have gtotten in earlier) turns into a rocket. long 982.75 sell 988.50 +5.75 that's it so far
10:00 short ,wash 10:20 Bracket BO long 11:03 sell long, reverse short 11:19 wash, reverse long 11:43 sell long, reverse short 11:59 cover, reverse long 12:20 sell, reverse short 12:47 cover, get long looking for first pt 2.
what really helped me a lot was finding the right pt 1. If you have pt 1 you can just follow along the sequence of a trend. If anything in the sequnece does not occur i take my exit and reverse. Pretty much i know what is suppost to happen next.If that doesnt happen i take my cue to exit and reverse.
I will post some short comments to everyone (Each person). The reasons for each one will be there too. You can't imagine how strongly I feel about how we got there before Labor day. As you ace this Summertime stuff, you can't imagine how you will feel when the Fall hits. Volumes will pick up for trading and stuff will be more emphatic. I am not tlking monthly volumes as apparently so keep track of. I am speaking aboutdrives intraday portions of the day. So you must follow my brief comments to each of you. Look at the others too. I recommend strip pasting them in a spiral binder like a steno pad. Put three on a page and then write days under them when you used them. Flip the pad when you look at it laying there (randomly). I hope you can see how the posts you make show individuality and also progress. It is good for the harsh type people who lurk here to be able to see proactive creating and contributing posts here. As magna says, this is a narrow market (IT channel). I actually tucked a right line up into above the 8/5 line. We did get to see the news "drive" it to the away line. as we get into pulling down porfits like today, we have to become conscious of "club selection" My jaded younger brother, who operates out of a horse operation in southern VA, has a hobby of playing golf courses only once. They trail along on routes and play one round. he has practice set ups from pasture to pasture for parcticing various clubs under as many conditions as likely. OT He set up a horse shoe pit months ahead of my arrival and just waited until I said we had to take some time to play....lol He got me hook, line, and sinker.