Come on porgie you can do better than that. That is like saying price went down and stayed down a long time. Tape is relevant to intraday. Also to daily..weekly. Are you saying one doesn't need volume?
what i try to do is follow the red bars down and follow the green bars up....you have extracted the 5 years of hard labor and the 10,000 hours sweat and toil system from me Pin....finally someone pulled it from me......when the price is moving up buy....when the price is moving down sell.....I know u didn't look at the chart but it tells the story today....from beginning to end...just like every other day....no exceptions........brother is proud of me even if you are not...LOL..I do like the respectful posts Pin....... that shows a lot of class.....seriously......thanks very much for that....
Wish that would work but it doesn't many times. Example. YM Friday price went up over thursday so if one bought thinking it would continue further up on tuesday they would have gotten a shock by the drop today. I already explained why the up bar on friday was weak and predicted the decline today. But, here goes again in case you missed it. Narrow spread up bar on low volume weak close when context is dist. means there isn't enough demand to push it on up. If no demand prices will fall. That became a fact today. "Deep pockets" weren't interested in the upside. If they aren't interested in the upside price will fall because "THEY" make the future. Buying in moving up price or selling in going down price isn't good IF the smart money isn't doing that. See what I mean? Thanks for the comments on my posts. I try to be civil. You too, at least with me you have been. I am calling it a night and leaving out of town tomm. back in a few days.
Pin, Let me say I will no longer play the game that I do just for fun...You deserve better......You and I trade 2 different styles....you are more of a position/swing/overnight trader and I am a pure intraday trader.....looking for 15 pts per trade ......or more or less..........of course depending on what is at hand....I am through by 2:30 CST most days........I don't start until 9:00 most days.....I respect any style anyone chooses...mine suits my state of health.....can't stand much stress so I don't scalp but just one step above scalping.....with tight stops and accuracy that suits me......
The position is up 27 points this morning. Yesterday's sell was on very light volume, so the bounce was quite predictable due to seasonality and MRC working overnight. But I tend to agree that more downside is due, so I will close it probably before 10 am. I want to lock in at least 20 points just in case there is some kind of funkiness....
sold my MRC 10857. +27 A gift that keeps on giving. Has consistently given 25/30 points with 100% positive expectancy in Dec. Expecting a pullback to 10840 and then a further short-lived move up after open.
yup... congrats once again to all those who play the no risk overnight long futures system for free money $$$$ No risk.. means just that...