Posted by jack hershey on 02-27-03 02:27 PM:
The icebergs are smart enough to get out at end of beginner trade because they know the beginner trade ends in congestion and trading the "chop" until convergence and centering come up.
FWIW My Jack-Stoch Trades 2-27
Enter: Long @ 834.25 10:29
Exit: Sell @ 839.00 10:43
Total: +4.75 Day: +4.75 Week: +15.50
Reason for entry: 10:20 5m Stoch(83.87, 76.34) MACD Hist 0.415. Bought the break over the 10:20 high (was also a new HOD).
Reason for exit: Ok i bailed early. Mkt approached 840 which had been death resistance for the last 3 days so i got before it. Also the big vol spike 27k had me thinking exhaustion move. There was a MACD 5m XO at 11:10 with a low of 839.25 so i think it may have been the same price either way.
2. Enter: Short @ 833.75 @ 2:333.
3. Enter: Long @ 837.75 3:42
Exit: Sell @ 836.50 4:00
Total: -1.25 Day: +4.75 Week: 15.50
Reason for entry: 3:35 5m bar Stoch(92.86, 77.23) MACD Hist:0.765. Bought a move over the high of that bar.
Exit: Cover @ 832.50 @ 2:57
Total: +1.25 Day: 6.00 Week: +16.75
Reason for entry 14:05 5m bar Stoch(8.70, 22.90) Macd Hist:-0.473. Now i was hesitant b/c it was still within a channel on my chart that i had drawn from the afternoon chop so i wanted to see a little more downward movement. (see attached chart). SO we had several reversal candles and then a b/d out of the channel which is when i shorted.
Reason for exit: Big vol spike at 2:35 bar and when the 1m MACD had a XO(2:42) and then a higher low on the new low(2:52) and the new low was on much lighter volume and the NQ did not make a new low i put a stop above the high of the 2:50 bar @ 832.50.
Reason for exit: held to end of day. Sold at 4pm.
Questions:
1. What do you mean by contemporary volume.
****The prevailing volume for the last three events: mutual managers leaving, day traders shutting down and bottom fishing starting up.
2. Are talking about end of day trend changes going throguh this process: volume decreases---->stoch goes to 50% (which stoch are you refering to?)------>volume picks back up and drives price
***** don't connect 50% to end of day. The 50% on the 14,1,3 was just a dwelling point. This kind of event is ALWAYS a possibility. It can always be something that can happen.
Zillions of people trade out of the 20 or 80 on a hope that there will not be a dwelling point at 50%. some day i will go back with a few people who have records and they can see that a lot of failures to BO are exactly because the SToc goes to 50% and sits there before going back into a trend.
Please follow just the volume description as a separate sequence.
3. What does FBP mean? (edit: Flat bottom pennant. got it. saw it in an earlier post)
Yes I will start using the different pace formations from here on out. We will focus on 5 min primarily and slip up to 15 min as good trends appear to understand formations. Then i will use the 1 min to pick off about four or so formations that set you up for logging stops for C&R purposes.
You can google a little and see that all these topics are mostly untouched.
What happens is that you build a signal vocabulary and that leads to have sequences of signals and finally sequences in a tree that tells you what trend possibilities are being eliminated. Once you see sequences then you are at KISS.
Imagine slipping out of fast paces right into slalom reversals cleaning up point after point just like going down a black diamond trail or sweeping from side to side in a glider at ship speed when an updraft is racing up a canyon.
By then we will just have to focus on the partial fill problems of linked reversals.
The icebergs are smart enough to get out at end of beginner trade because they know the beginner trade ends in congestion and trading the "chop" until convergence and centering come up.
FWIW My Jack-Stoch Trades 2-27
Enter: Long @ 834.25 10:29
Exit: Sell @ 839.00 10:43
Total: +4.75 Day: +4.75 Week: +15.50
Reason for entry: 10:20 5m Stoch(83.87, 76.34) MACD Hist 0.415. Bought the break over the 10:20 high (was also a new HOD).
Reason for exit: Ok i bailed early. Mkt approached 840 which had been death resistance for the last 3 days so i got before it. Also the big vol spike 27k had me thinking exhaustion move. There was a MACD 5m XO at 11:10 with a low of 839.25 so i think it may have been the same price either way.
2. Enter: Short @ 833.75 @ 2:333.
3. Enter: Long @ 837.75 3:42
Exit: Sell @ 836.50 4:00
Total: -1.25 Day: +4.75 Week: 15.50
Reason for entry: 3:35 5m bar Stoch(92.86, 77.23) MACD Hist:0.765. Bought a move over the high of that bar.
Exit: Cover @ 832.50 @ 2:57
Total: +1.25 Day: 6.00 Week: +16.75
Reason for entry 14:05 5m bar Stoch(8.70, 22.90) Macd Hist:-0.473. Now i was hesitant b/c it was still within a channel on my chart that i had drawn from the afternoon chop so i wanted to see a little more downward movement. (see attached chart). SO we had several reversal candles and then a b/d out of the channel which is when i shorted.
Reason for exit: Big vol spike at 2:35 bar and when the 1m MACD had a XO(2:42) and then a higher low on the new low(2:52) and the new low was on much lighter volume and the NQ did not make a new low i put a stop above the high of the 2:50 bar @ 832.50.
Reason for exit: held to end of day. Sold at 4pm.
Questions:
1. What do you mean by contemporary volume.
****The prevailing volume for the last three events: mutual managers leaving, day traders shutting down and bottom fishing starting up.
2. Are talking about end of day trend changes going throguh this process: volume decreases---->stoch goes to 50% (which stoch are you refering to?)------>volume picks back up and drives price
***** don't connect 50% to end of day. The 50% on the 14,1,3 was just a dwelling point. This kind of event is ALWAYS a possibility. It can always be something that can happen.
Zillions of people trade out of the 20 or 80 on a hope that there will not be a dwelling point at 50%. some day i will go back with a few people who have records and they can see that a lot of failures to BO are exactly because the SToc goes to 50% and sits there before going back into a trend.
Please follow just the volume description as a separate sequence.
3. What does FBP mean? (edit: Flat bottom pennant. got it. saw it in an earlier post)
Yes I will start using the different pace formations from here on out. We will focus on 5 min primarily and slip up to 15 min as good trends appear to understand formations. Then i will use the 1 min to pick off about four or so formations that set you up for logging stops for C&R purposes.
You can google a little and see that all these topics are mostly untouched.
What happens is that you build a signal vocabulary and that leads to have sequences of signals and finally sequences in a tree that tells you what trend possibilities are being eliminated. Once you see sequences then you are at KISS.
Imagine slipping out of fast paces right into slalom reversals cleaning up point after point just like going down a black diamond trail or sweeping from side to side in a glider at ship speed when an updraft is racing up a canyon.
By then we will just have to focus on the partial fill problems of linked reversals.