Full Tilt Swing Journal - Virtual

26 points already... Hmmm... Looks like I need to shift my projections from the Tuesday sell signal setup lower...

Lets see where bottom out at by next Tuesday.

Keep underestimating market range. Was thinking we would only pull back 20-25 points. But this far on the first day of consolidation signals farther pullback.

Price levels are not that important. Just knowing the topping/bottoming days is the key.
 
Forgot to update this thread again... Too busy trading real accounts.

Too lazy to update this... Ill update it when I see a weekly market bottom/top play.

Sell sequence is ended as of tomorrow late session. A three day rally move here will fail badly as a weekly consolidation/sell cycle is holding the market back for the next couple weeks or so...

The next sell cycle after this one will be a good odds long.
 

Attachments

Sold out at 1335. Decent profit...

Decided that my entry position at 1328.50 was "chasing" and wasn't properly positioned low enough.

Also... Accidentally used current month options instead of August for a Low Conviction Long. LoL!

If we retrace ill position again properly.
 
Ohhh... Tuesday might get a bit volatile. I printed off a copy of the nasdaq calendars for the month last week for the emotional catalyst news dates... Bernankes speech wasn't on there yet... Now it is though!!!
http://www.nasdaq.com/markets/us-economic-calendar.aspx

Might turn the counts and cycles to chaos intraday, but we should still push towards the target area.

Well see what we get... If only Bernanke speaked on Wednesday only we would be guaranteed a runup through Tuesday. Parabolic blowoff rally potential Tuesday... Hmmm...


People think you can use technicals and wave cycles without monitoring news... But the two have to be combined together... Bernanke and the EU political situation can switch all the wave counts on a dime for days, weeks, or even months...


Quote from nillionaire:

Bernanke also speaks before the Senate on Tuesday.
More...
 
Time to take some profits on your longs people... The weekly is going to crack if we don't get new highs by midweek. Just look at any candle chart. Need new highs for more buyers to come in.

While it is bullish that the market isn't falling much from the highs after a consolidation signal... It doesn't mean much for a couple more weeks after the consolidation time period has passed.


All flattened out across the board and waiting for the short swing setup to appear between tomorrow morning into thursday morning. Only swing plan I have this week. Might be one of those futures scalping only weeks... OPEX Week... Hmmm...
 

Attachments

It's generally retarded to take daily accumulate low signals after a weekly short signal... This one didn't have a lower high before it though.

This is also a strangely complacent market. Well, not really... We have the Jackson Hole meetings next month where QE3 may be announced! :D

Careful counter trending weekly trends... Even with a great daily swing long setup weekly technicals can blow out the daily for dual cycles.

The bottom line is you got to wait around patiently to get a very low price after many days of selling to have a shot at a decent odds long when counter trending.



There is no need for fancy technicals... Just read the engulfs and the number of days/weeks in a trend on a candle chart. DO NOT look for candle patterns. Just monitor open to close distances and ranges. New highs and new lows after a certain number of days in trend are the most important accumulate low/distribute high signals.

As long as you buy low enough, and short high enough... You can be quite a bit off in your price projections and still make money. Not to mention being able to reposition without getting stopped out.



I got a hunch a lot of people are waiting to short 1369 this week... Which means we either stop before it or go a bit above it... LoL! *Paranoia.*
 

Attachments

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