If You Can Draw A Straight Line . . .

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QQQ gives the same message but isn't exactly the same as NQ.

QQQ Weekly:
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Gringo
 

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Price is close to the top of the trading range as far as Q's are concerned. I don't know what's in store but this is where we stand. If price stalls here we could get furious drops but demand has shown significant resilience today. Is a BO in store soon enough?

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Gringo
 

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Quote from dbphoenix:

Keep in mind that it's September and we have all that guidance nonsense to get through.
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Oh yes, that time of the year, and then there are Octobers.

Gringo
 
Quote from fortydraws:

Pretty clear hinge since 8:30. A downside breakout that reverses higher might gain enough interest to break out of this trading range. A break out higher that reverses near 48 could start the next trip down toward the lower end of the range. I sense a need to exercise patient nimbleness at the open.
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spot-on 40D !.
I hope you can make time to post daily commentary on your trades and analysis. Everybody knows the 'WHY's - Syria, Putin, jobs numbers etc etc. I like your analysis of the 'WHAT' the traders are thinking at any given moment - part.
Thanks for all you do !
 
Quote from pokito:

spot-on 40D !.
I hope you can make time to post daily commentary on your trades and analysis. Everybody knows the 'WHY's - Syria, Putin, jobs numbers etc etc. I like your analysis of the 'WHAT' the traders are thinking at any given moment - part.
Thanks for all you do !
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Actually only a few people know the "whys", unless one is defining "why" by news. Defining "why" according to price action is much more useful when one is trading real time. I posted a heads up on the reversal opportunity a half hour before it occurred, and 40d was also aware of it. Whether he took it or not I don't know, but at least a few people who focus on news-driven moves missed both entirely.

Commentary on events is fun, but, in the end, so what? In any case, with regard to 40d's analyses, I agree. If one understands the process, he's far more likely to trade this successfully than if he just follows somebody or tries to copy somebody. It's also a hell of a lot cheaper.
 
This is my after the fact trade sheet for yesterday morning. Do these all appear to be DB acceptable trades?

I would like to hear how others would have handled the triangle from 9:40-10:00
I am showing simple trendline breaks for exits and first pullback for entry, untill 4 swing points make it clear that it is a hinge forming. Then I wait for a breakout and pullback.

So clear this morning, but not yesterday.
 

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Quote from bmwhendrix:

This is my after the fact trade sheet for yesterday morning. Do these all appear to be DB acceptable trades?

I would like to hear how others would have handled the triangle from 9:40-10:00
I am showing simple trendline breaks for exits and first pullback for entry, untill 4 swing points make it clear that it is a hinge forming. Then I wait for a breakout and pullback.

So clear this morning, but not yesterday.
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This "Db acceptable" business troubles me. What is acceptable to any given trader depends entirely on his risk tolerance, not on whether it passes muster with me. If for example one has serious risk issues, he needs to exit his trades immediately after price breaks either a d or s line. If not so much, he can give price a little room. If even less, he can be downright flexible. But to encourage someone with severe anxiety to be flexible is ludicrous. And damaging.

I'd like to suggest that you take a temporary sidestep and get rid of all the lines, lateral and horizontal. All of them. And focus entirely on price. Focus on what it does in relation to itself rather than on what it does in relation to a line. You needn't do this for more than a few days, but it may be enlightening.
 
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