ES Journal Archive (2006 - 2008)
- Thread starter Buy1Sell2
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31 R (and 03 the worst S)2 would do. It's a well established methodology in conventional TA to watch out for times when price has been in an uptrend and whenever you get 2 averages crossing over 2-3 times creating narrower gaps between the 2 that is a sign of a weakening upside. The opposite goes for strengthening price action. Obviosuly that is just the basics, ImPO you also need some sort of momentum indicator so you don't enter against the flow, plus understanding of average range of an intraday oscillation (like in the pattern of 10 that Volente refers to) & you need to manage risk accordingly. This is 1 of the ways to use crossovers intraday, there are a lot of short-term speculators present on daily basis, so as long as they are there we will have presence of emotions ie greed & fear.
"Most people will give up after just a few losses and then kick themselves as they sit on the sideline watching the trade that they did not take turn into a huge winner."
did that yesterday.
i don't think i'm a particulary good trader, but i hope to work on getting better the next 40 years (i'm 35 btw)
did that yesterday.
i don't think i'm a particulary good trader, but i hope to work on getting better the next 40 years (i'm 35 btw)
To update where I stand:
Still Long from 1328.5 with a stop at 1291 for now, which I'm hoping to get rid of sometime today if we push over 1335.
Still Long from 1328.5 with a stop at 1291 for now, which I'm hoping to get rid of sometime today if we push over 1335.
momo through 26!Sorry to mention this here, I think it's important. Citigroup is currently trading near a major Lo which is still active support. There is a bull triple D in the daily histo of C's chart. C is a major bank and perhaps some sort of barometer of US (perhaps even global) banking sector. Basically if C's price starts gowing below support then I would expect the Fed to make an emergency rate cut, if that happens anybody short on a tight stop will have to be extra careful. Also we do have pointed out by Tommy bull divergence on 240. So far C is holding up, but I would keep an eye on it, whether Fed cuts or not IF price starts going through that major support is anybody's guess, but what is more probable is that volatility in the S&P500 & of course other stock indices ought to increase substantially.
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1971073>
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1971073>
Posting it in real time with exits : PRICELESS
You did post in real time although in a cryptic form the entry this morning, but there was no exit posted. So:
1. Did you take the 4 pts gains?
2. Did you move the SL down and got out at breakeven?
3. Were you waiting for the gapfill and got stopped out at -3 pts?
My point here is: posting entries without exits is pointless... It is the exit that determine the profit/loss not the entry.
If any of you folks want to see the daily pivots and breakout targets & breakdown targets, I am putting them up every
day on youtube as well as market commentary.
If you want feel free to pm me if you have any questions
as to what I am seeing
Take Care,
Joe Baker
P. S . My breakout today was @ 1320.00 for a target of 1330.00
target hit today 1300.00 for 10 pts.
Plus I said fed days where very bullish before #
http://www.youtube.com/user/TradePilotPro
See for yourself
day on youtube as well as market commentary.
If you want feel free to pm me if you have any questions
as to what I am seeing
Take Care,
Joe Baker
P. S . My breakout today was @ 1320.00 for a target of 1330.00
target hit today 1300.00 for 10 pts.
Plus I said fed days where very bullish before #
http://www.youtube.com/user/TradePilotPro
See for yourself
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