ES Journal Archive (2006 - 2008)
- Thread starter Buy1Sell2
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I use it from previous support or resistance areas. 100 also works decent for YM. I found out about 100 while trading nyse stocks and used it for entering them. problem was sometimes the stocks did not move in tandem with the dow. That was when I started trading YM and used the rule of 20 and 100 to trade it.
That is assuming you shorted at 2:30 AM or so and held through the retrace back to 1370 into the dive to 1361.50 a little while ago..Quote from volente_00:
71.5
61.5
what more could you ask for ?
.I assume if you know the 71.50 high then on a down move you are expecting to see some consolidation or reversal at the 61.50 area?
Quote from optioncoach:
That is assuming you shorted at 2:30 AM or so and held through the retrace back to 1370 into the dive to 1361.50 a little while ago..
I assume if you know the 71.50 high then on a down move you are expecting to see some consolidation or reversal at the 61.50 area?
The signal was 61.5 to go long.
It is 68.5 now
Why are you assuming I was shorting ?
62 area was my target last night long before we got there
and no way in hell would someone be up at 2 or 3 am trading
backtest it sometimes
I was not assuming you were short, I was joking that you caught the 10 point move if you were in at that time and held all the way down.
The real question was, if you knew the high of the globex session at 71.50, then would you use the 10 points as a target to possibly go long or have the market pause?
The real question was, if you knew the high of the globex session at 71.50, then would you use the 10 points as a target to possibly go long or have the market pause?
Couple of points here. It is up to the trader to decide when to exit the trade. I often scale out some and ring the register, move the stop to breakeven to give it a chance to run.
rule of 10 flat out sucks on a grind up or down day. For this reason, I will usually cover some for a small gain of 2 or 3 points, because if it is one of these grind days and you are fading the grind then you will find yourself giving any gains back as it grinds up or down even more.
rule of 10 flat out sucks on a grind up or down day. For this reason, I will usually cover some for a small gain of 2 or 3 points, because if it is one of these grind days and you are fading the grind then you will find yourself giving any gains back as it grinds up or down even more.
next stop
58
then ?
Usually if you get three chances at a rule of 10 signal at the same area it is not a good sign.
but a right shoulder to 66 cash would be a kiss of death
40-52
by friday perhaps
58
then ?
Usually if you get three chances at a rule of 10 signal at the same area it is not a good sign.
but a right shoulder to 66 cash would be a kiss of death
40-52
by friday perhaps
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