Hopewell's Journal

I'm thinking the next 60-min buy on TNA might be ok. It would be a wide stop though. I've never traded off a 60-min chart before. Could be interesting. Could also be costly, lol.

<img src = "http://i1233.photobucket.com/albums/ff390/Hopewell3/111118tna1217.png">
 
Actually, the 60-min SPY might be a less risky trade, if going for the 60-min buy setup.

<img src = "http://i1233.photobucket.com/albums/ff390/Hopewell3/111118spy1221.png">
 
I think the real target here would be yday's high at 124.40, but I don't think it will reach that today. I will probably exit today around 123-123.10, if it gets there.
 
Actually, if I view the 60-min SPY on an intraday basis, it shows a slightly different chart, because the bars are calculated on the half-hour (eg, 9:30 - 10:30). So looking at this chart, I think I can raise my stop to 121.79.

SPY pulling back alot now. Looks ugly. Let's see what happens. Perhaps this will be my first and last 60-min buy setup, lol.

<img src = "http://i1233.photobucket.com/albums/ff390/Hopewell3/111118spy159.png">
 
"Your goal s/b to lose money only on good trades."

--T3live.com free 30 day online course, lesson 21

[This will help you to not throw your money at every little trade that comes along, just to get yourself some action].
 
When the Dow falls through November's lows at 11630, I think it will fall hard and fast, perhaps 500 points or more. This won't happen in a day, but probably within a few days.

I'm thinking this will all happen before the end of November.

<img src = "http://i1233.photobucket.com/albums/ff390/Hopewell3/111119INDU1031.png">
 
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