Search results

It's CIT, not Citi. They are two different banks.

That's exactly the same observation I was going to make. The weekly bearish hammer seems to provide a range for a possible top yet it triggers 2-3 weeks after it prints. By the way, ES just broke last week's Lows. If history repeats itself, we should see accumulation and then rally to...

ES would need to drop back below 1082 for a serious selloff to occur...right now bulls are in control.

I just read FB123's comments and his first post sums it up well for me. Very insightful indeed.

Vespasian I am really sorry to hear about your decision because even if I don't know you personally, I am pretty sure that as a trader myself I can share the same passion and desire to trade as you. I will give you my 2 cents. If you managed to be consistently profitable and disciplined...

NQ bearishness is making it difficult to trade inside this big accumulation area. I'd like to see NQ test 1724.25 before looking for longs.

I pretty much consider all the above mistakes a KILLER for any trader. I wouldn't pick one as the worst. They are all the worst.

Pekelo Why do you still feel the pattern has triggered even if it didn't meet your rules? I know you have lots of experience with this pattern so I'd like to hear why you still feel as if it had touched the SMA.

I am not sure about that because we no longer have a DT, so a drop off current levels may not be a textbook dragon pattern. I've only been reading about Pekelo's pattern for a few days, so take my words with a grain of salt. I may be utterly wrong.

Very well done sticking to your analysis for so many months without changing a tiny bit of it. Do you feel we are gonna see a major correction in the likes of 20/30%? Or are we heading to new all-time highs without ever looking back? At this point anything is possible. I got to say...

Hi Pek Another observation about this pattern: it looks like the swing from 1st bottom to Height is much larger than the swing from Height to 2nd bottom...and the swing from 2nd bottom to Dragon Failure Point is the smallest swing of all. In sequence, you'd have the following: 1st...

Hi Pek First of all, good job! You did discover something very valuable and recurrent, so my hat goes off to you. I have one question about this pattern: By looking at your charts I noticed that sometimes the 2nd bottom is higher than the 1st bottom while other times it's lower...

Am I having bad data or did the DAX and EUROSTOXX 50 just take a nose dive 10mins ago? Dax dropped like 60pts in 2mins.

feels like this downmove is being bought into. the low volatility makes it hard to judge the health of this downmove.

Great post.

Thanks for the reply. Number of contracts does matter in your equation. Here is an example: Let's say ES had a daily range of 20pts. Let's say you only had one trade -profitable - for the day. Here is where the number of contracts comes into play. If you traded 20 cars and...

One question: are the percentages calculated on a 1-contract basis? If yes, taking over 90% of daily range on a 1-contract basis is a hell of a job.

Looks like its going to be fully retraced...what worries me is NQ, which has been very bearish the last couple of days. We need NQ to join the bulls again to keep rallying. By the way, your observations are right on target. 2009 has been Gap City so far, and the best moves have occurred...

If you want to become a daytrader, it's impossible to know when it's time to quit your job simply because you can't learn how to daytrade efficiently while you are working full-time for uncle sam. You must make sure you have 2-yr living expenses saved up and a lot of time to watch the screens...

Why do you guys call them trannies? Who came up with this "label"?