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Yes indeed I couldn't resist that failure short. Filled at 2 and a quarter. Took a piece out at "the number" (1300) and held a small piece down to the test of S1 (1298). Steve

Here is a corrected 5 min chart showing the proper place to take profits Daily pivot on top and S1 is where price tells me to take a piece off the table. In my hurry to post, I showed the weekly as the place to take profits, sorry, my bad. I am not good at posting and trading..:D Steve

Believe me its not necessary. Noted as you wish, however I "do it" for my own reasons... Good luck Steve

Okay I think that is "it" in a nutshell I am outa here. I appreciate you letting me post this. I hope it helps. All you have to do is have a context for your decision making and develop some simple rules to trade by. Steve

Its easier to see if we remove all the colored lines

Same chart (60) min with addition of daily pivots I have notated the position of the daily pivot and you can see how price fell through that pivot earlier in the day Pretty clear failure short trade at least as of now.

and here on that same chart I have added the weekly pivot So my question is "are we going to touch that weekly pivot?" If you put a cursor with crosshairs on that chart and scan left you will see support right at 1295 (over to the right) More recently you will see a gap up. That gap...

and here is that same chart with the Monthly pivots in place NOW you can start to see something of value..See how price has failed a couple times at the monthly R1?

and here is the 60 min chart I use this to look for entry Here is the basic chart with no adds

Then I look at the daily chart. Again I am framing the action. I want to get an idea of now price is trending on a daily basis Also I want to see if there are consolidations from previous day's action that form support or resistance. If I see areas like this I make note of them On this...

Okay I start by looking at the weekly chart. Attached you can see what I look at. I just want to see if there is an apparent "big" picture trend If I can see one I put in my own channel lines, like the ones you see there. I have an LRC in place. You can see the midline (orange)...

Hello: I notice some of you are asking questions about when to get out.. Well what that tells me is that you don't have a context for your trading... Context is framework..a boundary set that allows you to frame the action..Like a frame around a picture...So here are a couple that I...

Excuse me I have no idea if you are tweaking your system rules based on my comment, but if you are tempted to, I would say hold off and THINK about it for a while..... I don't know if it helps you to say this, but I don't make changes in my system rules during the work week. I wait until...

Here is today's chart of the ES market. According to Mr. Seykota's definition this is a downtrending day. Does this definition help you...It does not help me.... For me this is a consolidation day, and using 5 min candles, has no significant trend. If by the end of the day price has...

I don't notice any emotion in the description I presented. As to the idea of useful...Yes, I prefer that a definition be useful and accurate. Once again my comment is simple. According to Mr. Seykota's definition, price could wander in any direction for an unlimited amount of time. It...

By the way Market Surfer, What is the registered name of your Fund?

You began here by suggesting that we develop a definition. I did. It is simple and accurate, and it shows trend from its origin.. Mr. Seykota's definition lacks strength. One could have a price series that moved in any direction but as long as it closed one tick higher at the end it...

What possess you to think that an accredited investor would provide you with funds under these conditions. As usual you have it ass backwards..You want money to manage...Then YOU need to post a track record..any respectable public fund will do so without hesitation. It sounds to me as though...

How convenient.

In my opinion, whenever a higher high and higher low occurs, or whenever a lower high and lower low occurs in succession, trending behavior is occuring. To the extent that this behavior continues, a trend is occuring.