Recent content by Bombardier

I'm adjusting my stop to 1410. Weird behavior again at the bottom but that is probably normal in ranges. Definitely not expected, but that's when the advantage of having a very objectively set stop according to trend patterns becomes obvious. [EDITED BY MAGNA: Bombardier has stopped...

Bought @ 1413.50, Stop @ 1398.00 Yes, the first time in a long while that I'm seeing the usual breakout reversal pattern.

The trend is still downward. Toward the close, it almost looked like the market would break the downtrend but so far, my short position seems to be the best choice. Those spikes are extremely irritating and I'm wondering if there is any way to differentiate such spike from a potent turnaround...

Short @ 1398.50, Stop @ 1410.50 Interesting sell-off. I was actually looking for a break of the downtrend drawn in my previous chart. It almost appeared as if the market would materialize this scenario at the open, but we are about to break the support instead. Protective stop is at 1410.50...

A break in either direction will be a compelling entry opportunity.

The best entry is at a trend reversal. In my very first post, I've hinted at the pattern that all markets repeatedly do: ignition, trend, range, reversal (ignition to opposite direction). If you look at the time and price I entered in each trade throughout this thread, you'll quickly figure out...

Thanks so much for your comment. Yes, trading can be incredibly simple. I hope that the illustrations help to understand the tactic being traded here. I firmly believe that the success rate increases, the simpler and the more visually aesthetic an approach is. The way you set up your chart's...

It should work! I haven't thoroughly looked into it, but you are very welcome to share your insights. It would be too much work and stress for me to maintain several positions at once.

Similar case: There was no horizontal resistance shaping up at the lows to prepare for any entry. It rallied straight up and the stop for a hypothetical long would have been ridiculously far away.

Not yet, there is no noticeable horizontal support base broken to the downside, and the uptrend channel since beginning of August is still intact as of this moment. We merely touched the top from March and sold off a bit (double top), but going short yesterday is speculative at best. This is...

There was no reversal pattern.

Hi tihfa, Yes, a break above it is a legitimate buy, and a breakdown could be a short. It just isn't the classic reversal breakout pattern I take but a continuation pattern. Nevertheless, definitely worth a try.

Thanks for your kind words, OddTrader. I'll look into the formulas and try to include the data in the performance update going forward.

My previous short position was stopped out. The market completely recovered in a weird fashion whereby no long opportunity become apparent to me. If had stayed in my long position from last week, I would have been stopped out by yesterday, too, which makes me conclude that either way I would be...

That's right. The first upgrade is always the hardest :) I load up finviz.com from time to time to check how the market is doing out of curiosity but it's not really a strategy that requires me to be available around the clock (thankfully). The hard stop is set to trigger outside RTH as well by...