A 70k bet that I can't make a 50% gain in 2009

[geez]

Don't want to enter anything this late in the day, so I'm going to post 2 patterns(trade ideas) that look for to help clarify to all those who ask.

1. Pull up 5 min AAPL and 5 min QQQQ charts from 9:30am.
2. QQQQ gaps up and AAPL gaps down(rel weakness).
3. As AAPL moves lower from 9:30 to 9:50 QQQQ bases.
4. AAPL moves up and sets up a lower high at 10:10, right when the QQQQ 5 min base shows signs of breaking down.
5. AAPL is a good short(per my plan) at92.64/ stop 92.94/ tgt 92.04
.......................................................
Next:
1. Pull up a 5 min chart of SRS. The 5 min chart overall was in an uptrend.

From 1:00pm to 1:20pm SRS pulls back, then rallies back up to the 1:00 high(basically a "V" shape from 1:00 to 1:55pm).

2. SRS pulls back 3 bars and puts in a higher low at 1:10(the exact time a took the DXD trade).
3. SRS sets up a pattern I look for at 14:10 w/ the higher low. It's a buy at 77.72/ stop 76.82/ tgt 79.82 .
The indicator being it did a 100% retracement of the 1:00-1:20 selloff, it's still in the uptrend(on the 5 min chart), then puts in a higher low following that. You will notice I look for this pattern often.

Hope this helps...........

 

[geez]

02/19/09:

TOTAL P/L +595.22

 

[NoDoji]

Quote from geez:

02/19/09:

TOTAL P/L +595.22

Rockin', geez!

 

[mikea59]

Quote from geez:

2. SRS pulls back 3 bars and puts in a higher low at 1:10(the exact time a took the DXD trade).
3. SRS sets up a pattern I look for at 14:10 w/ the higher low. It's a buy at 77.72/ stop 76.82/ tgt 79.82 .
...........

How do you come up with your targets? I don't see any significant s/r around 79.82. That would have been a great call - did you actually take that trade or is this just hindsight?

 

[geez]

Quote from mikea59:

How do you come up with your targets? I don't see any significant s/r around 79.82. That would have been a great call - did you actually take that trade or is this just hindsight?

Mike,
About 10 seconds before SRS triggered I took DXD long on a very similar pattern(it's posted in my journal).
I put the SRS in here for educational purposes b/c it was "cleaner" looking and easy to see.
The 79.82 target is a 2-1 reward of the stop(1.00 stop-2.00 target). Once I see what the stop is ,I then look to see if the 2.00 target is attainable. It looks like 80.80 then 82.50 were the next big resistance spots, so 79.82 is a go, per my trading plan.

Hope this helps.

 

[softfx]

Quote from geez:


3. SRS sets up a pattern I look for at 14:10 w/ the higher low. It's a buy at 77.72

How and when do you decide that this is a higher low ?

You didn't wait for the 5 min bar to close or it would be 78.07 and not 77.72.

You just wait for price to trade higher than the previous closing 5 min bar ?

 

[geez]

Quote from softfx:

How and when do you decide that this is a higher low ?

You didn't wait for the 5 min bar to close or it would be 78.07 and not 77.72.

You just wait for price to trade higher than the previous closing 5 min bar ?

I would buy OVER the 14:05 bar (77.71),
yes wait for it to trade higher than the last 5 min bar...if it continues to fall then it is not a trade.

 

[geez]

02/20/09:

Looking to take some scalp longs today. In a perfect trading world I would like to see a selloff the opening 30min. and buy the first reversal, but we'll see what happens.

 

[geez]

02/20/09:

10:27 600 DIA BUY 73.93
STOP 73.60
TGT 74.59

 

[geez]

Quote from geez:

02/20/09:

10:27 600 DIA BUY 73.93
STOP 73.60
TGT 74.59

taking the 1st higher low on the 5 min chart,daily chart looks oversold and with the a.m. gap down I have a scalp long bias this morning.