ES: patterns & rockets

14:15 Begin

Mkt been trending down most of day I see. Lack of support from on acc/dis & TICK suggest it might be over. Looking for bottom formation.

14:30 Breaks previous low but no follow through. TICK spiked down to
new low, but quickly back up again. Still looking for consolidation/reversal.

15:05 Breaks previous low but again no follow through.

B1 999.25 997.25 -2.00
(15:38) (15:49)

Bought the break of previous hi - stopped out. I (sh)could have had a cheaper exit when the b.o. didn't develop - but I liked the look of the little channel & hung on. FAILED BOs MUST BE EXITED QUICKLY.

15:55 Quit

Postmortem: Given that I was looking for consolidation right from the (my) start - which was already quite late in day - perhaps my initial comment should have been: "looks like congestion for the rest of the day - go play with the children" :)

Day:
- RT: 1 (0 winner, 1 losers, 0 scratch)
- PL: -2.00

Month:
- RT: 11 (6 winner, 5 losers, 0 scratch)
- PL: -5.25
 
like I suggested slow things down filter your trades to 50 or 100 lot size only and then you'll get a better idea how the larger lot contract sizes are played and maybe use this technique on a 1 or 4 min chart as well

capiche
 
9:30 Begin

S1 998.25 998.25 0.00
(9:55)

Sell rocket as per signal. Ignored exit signal for a few moments & got a slightly better exit price.
[hindsight: as I feared, when waiting offers a better exit price, there's a good chance exiting was the wrong choice :( ]

10:12 Rocket started again & motoring away without me, but meeting some res lines now @ 93-94.

10:35 Rocket continues. Had I re-entered on next signal, I would have had to have stop around 1.25 pts - to have made 6-9 pts.

10:40 Last price low div from TICK & MACD hist - but supported by acc/dis.

S1 989.25 87.75 +1.50
(11:10)

Sell the break of the little pennant (a little late). Snatch a quick profit as I have a fib @ 7.50.
[hindsight: good exit]

11:25 OK now we have vol dropping; div on MACDhist & TICK; & near midday. I have to quit soon - so why not now!

Summary:

Day:
- RT: 2 (1 winner, 0 losers, 1 scratch)
- PL: +1.50

Month:
- RT: 12 (7 winner, 5 losers, 1 scratch)
- PL: -3.75
 

Attachments

heres a suggestion 1contract what I've found useful is OBV (onbalance volume) to replace volume and accumulation distribution and CCI both leading indicators I have found good CCI help at Woodies CCI CLub
 
gw,

When you reply there is a 'browse' button below the text area. If you click here you can browse to a chart that you have saved on your PC, and attach it. PNG is the probably the best format. I save as BMP from QCharts & use Windows Paint to saveas .PNG. I don't think you can uplaod a BMP drectly as it is too big.
 
9:45 Begin

S1 985.50 983.25 +2.25
(10:07) (10:19)

Sell the break of LoD, which turned into a rocket. Exit before exit signal on basis that volume was stalling.
[hindsight: rocket subsequently failed - so good exit]

S1 983.50 983.25 +0.25
(10:38)

Sell the b.o. of little pennant. Bailed for small profit when acc/dis failed to make a new low.
[hindsight: could have got more profit (+1.00) but decision to exit was basically sound]

10:47 So now we have a potential double bot. with bullish div on
acc/dis - but TICK very low]

10:50 Double bot. completes but didn't enter because b.o. vol low
[hindsight: good decision]

11:10 Had I taken the double bot I would have needed a 2pt stop to
stay in for (currently) +1. Indicators show a rocket at the minute but volume tells a different story - sit on hands.

11:15 Volume falling off and appraoching dead zone so quit.

Summary:

Day:
- RT: 2 (2 winner, 0 losers, 0 scratch)
- PL: +2.50

Month:
- RT: 14 (9 winner, 5 losers, 1 scratch)
- PL: -1.25
 

Attachments

You must log in or register to reply here.
Back
Top