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For swing traders, Friday's close confirms Monday's break out of the range high (which was followed by a 2nd and 3rd confirmation of previous resistance - ES 1190 - as new support). There's airspace from here to at least 1250. I'm curious why you'd start a short here in no man's land...

You should hate counter-trend signals because even if confirmed, they rarely produce as much profit potential as with-trend setups. That said, counter-trend trades can add to a day's profit with low risk IF you wait patiently for some kind of confirmation of the initial signal. Your Trade #2...

Quote from ibn: After losing half my account, I found 1Option.com. I know this sounds like a lame testimonial but this guy is the real deal. His calls are right on , and I learned how he trades the market. Pete Stolcers is the real deal when it comes to reading the market. As for his...

To be fair, I do understand what Sp89 was getting at in clm's thread, pretty much same as dejavu who used to post here, and I used to be a counter-trend fader and had a 90% win rate but no proper risk management and the occasional losers wiped out all the profits. I personally found price action...

Mojitos at Visaria's later :cool:

I found that posting on ET is not bad at all when utilizing the Ignore list, and have decided to post again rather than let a small minority of loud bitter people take precedence over a majority of positive people. clm, I appreciate you posting my quote. Those words are my Keys to the...

WRONG, WRONG, WRONG! There is only ONE way to trade CL: :p

For you long term swingers (such as the owner of this thread), here's some longer term analysis from Alexander Elder's newsletter. On 9/27 the newsletter described a powerful indicator setting up a long term buying opportunity. Here's the newsletter excerpt: NH - NL Index Lights the Way...

Now that we've had penetration of the HOD, seem the thread's just getting hotter. :D

You never know if breakouts will fail or not, or if they occur because of news (by the time us low life retail traders know the news, price is far away), but by using TA/PA to get positioned properly, every now and then you're part of a move like that, which is a good reason to use soft profit...

Your friendly 5-min intraday TA gal says: Long symmetrical triangle forms on the 5-min chart: Pit opening highs connected to the 11:00 and noon highs is the upper trend line of the triangle; 10:00am low connected to the 12:30 low is the lower trend line of the triangle. Price hits the...

Can't argue with that, B1! Friday closed above the 20-day EMA and we broke the down trend line with conviction. Swing longs have full confirmation here.

I shouldn't read ET when I'm taking a break, because then I feel compelled to post, knowing there are less experienced, yet serious, traders/students who will be totally confused by all the bullsh*t that gets tossed back and forth under the influence of big egos. big ego:trading results in a...

Yes, dedicated to Ammo & Volente, who trade very differently, but both of whom demonstrate a trader's mindset day in and day out in a public forum: Austin, occasionally I'm a "front-runner" on these setups too, but I feel so much safer getting in at a worse price, but with extra...

Because you are so earnest in your plea, you have compelled me to come out of hiding for a rare appearance to provide an explanation that will get the entire anti-TA/PA camp in a tizzy: FFFSTBO: Failed final flag symmetrical triangle (upper trend line) breakout

The earlier short @ 89.89 was pretty darn amazing, too.

I truly believed I would not post again on this forum, but at times in the course of human events it becomes necessary for a tree-hugging dirt-worshipping bleeding heart world music composing pure vegetarian philanthropist to dissolve all political bands and offer her decent respect to the...

The sheer absurdity of this comment has been haunting me all day. A year or so ago (when I had far less experience than I have now), I was generating the equivalent of $50,000 to $100,000 annually, and this is somehow a bad thing that should convince others to ignore my posts regarding common...

What do you think would be of more benefit to a struggling trader, John? If I posted a daily P/L of $5-$10K, or if I took information based on three years of full time day trading experience that can help a trader net a daily P/L of $5-$10K and handed it to everyone here on a silver platter...

I avoid alcohol because it's refined sugar and also I need to conserve my brain cells for the focus required in day trading :p Some typical breakfasts are a 700-calorie smoothie with a LOT of berries in it; large bowl of oatmeal with a diced apple, flax seed or walnuts, berries, dates...