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I have no interim support levels between 87.40 (LOD) and 84.67 (daily bar). Higher low off that 87.40, though, no revisit yet. EDIT: That was a sweet short setup, let's see if that .40 holds...

"You're welcome" to anyone short when I left.

Four scratch trades in a row, long and short. Stepping away from my desk now...

OK, that wasn't me :p

I may have to whack the bid @ .52 if this doesn't break soon.

I connected 8/25 and 11/23 lows, and this measured move down was so strong, that daily TL is now around 86.00

Looks like at least the scalpers hit the offer @ .93

If price breaks back down through the 88.23 low, I'd keep 88 a soft target. There's a lot of airspace below and a daily trend line below 87.

Battle zone - 88.87-88.90: Previous S, now R 88.93: 50% retracement of overnight H-L

How do you determine whether buying a new high is a high probability or low probability trade? How do you determine if price moving up off a support level is a buy signal or the beginning of a setup for a high probability short position? What do you think indicates a reversal signal off a...

That was classic! :cool: Price in no man's land here. No trades for me tonight. Looking forward to some clean price action tomorrow!

What are you doing differently in your day trading compared to your swing trading?

I assume you use a daily chart for swing trading, and it seems you are quite successful. To day trade successfully, look at an intraday chart with, say, 5-min price bars and just pretend they're daily price bars on a 3- or 6-month chart and do the same thing you're already doing successfully...

My minimum profit target is 20 ticks (if a counter-trend trade or a with-trend breakout trade), but on most trades my target is 30 ticks or more. My maximum stop loss is 15 ticks, though I recently placed one at 21 ticks when I got into a short position a bit late, but bailed out at a...

GM, you got great advice here (especially Gubinec's). You can pay $30 (buy a book), $300 (buy a DVD), $3,000 (buy a course), or $30,000 (buy a mentor) for training and it can be best training available, and it will not guarantee profitability. I can teach you to trade profitably for free and...

Excellent excellent post! Until you get to the point that you trade this way (Mark Douglas' "trader's mindset"), you have no idea how effective it is. I used to walk away in frustration when this happened to me, then come back to see that I missed a really great trade ("Damn it, stopped out to...

Anyone can buy/sell that one share/one contract at a certain price to turn all stops there into market orders, not just a "big guy". I found that these head fakes occur most often a) during the periods of low volume consolidation following volatility, and b) in a counter-trend environment...

I've often said this as well and once posted two charts side by side, a 5-min chart and a daily chart, to demonstrate that price bar patterns look the same no matter what the time frame and as long as you choose a time frame to trade, stick with it and learn to trade it with an edge and good...

Ah yes, that was a worthy lesson from my counter-trend days. :eek:

Giving out trade secrets now, eh? :D I started doing this pretty regularly lately. I call it the "second mouse" entry. The risk is possibly missing a move, but as you said it works especially well in a new trend and out of low volume ranges where there are many false breakouts before the...