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Market Direction INDU SPX OEX NDX RUT
- Thread starter gg12
- Start date
Sundog
Thank you!
Ive made an analysis for the YM as well.
YM is long from 13000
with TS 12980
Market direction is UP
Stops can be trailed with 50 points on the 10 point grid, but obviously some backtesting is needed to confirm.
Apprechiate your thougths?
Thank you!
Ive made an analysis for the YM as well.
YM is long from 13000
with TS 12980
Market direction is UP
Stops can be trailed with 50 points on the 10 point grid, but obviously some backtesting is needed to confirm.
Apprechiate your thougths?
Attachments
gg12 good call, I would expect a correction at your next resistance 13040, too. At this point there is also a chance that the ym enters a trading range around 12950 and 13040. As it is, just speculation.
If I would have entered at 13000, a trailing stop is a good idea as you said.
Concerning backtesting, I use Metastock, so I am not of such a help. I am still more a discretionary trader, but would as well backtest some ideas, especially some relative strength ideas.
Some people say, RS is not working anymore, but I cannot agree.
Markets are in a tug-of-war, as you all know. Arbs and order flow from one market to another is ruling. Thats most impotantly the reason why markets are moving with of course many other considerations. You can see the order flow with RS on the chart.
But do not enter when stock, etc. is strong, wait for a pullback, otherwise you pay the premium for others, who are entering cheaper. Go with the order flow!
So the pattern is: strong, weak, strong, weak, strong, and so on => higher highs and higher lows !!! most importantly!!!, it all happens in a upmoving fashion. This is an ideal strong uptrend.
Sundog
If I would have entered at 13000, a trailing stop is a good idea as you said.
Concerning backtesting, I use Metastock, so I am not of such a help. I am still more a discretionary trader, but would as well backtest some ideas, especially some relative strength ideas.
Some people say, RS is not working anymore, but I cannot agree.
Markets are in a tug-of-war, as you all know. Arbs and order flow from one market to another is ruling. Thats most impotantly the reason why markets are moving with of course many other considerations. You can see the order flow with RS on the chart.
But do not enter when stock, etc. is strong, wait for a pullback, otherwise you pay the premium for others, who are entering cheaper. Go with the order flow!
So the pattern is: strong, weak, strong, weak, strong, and so on => higher highs and higher lows !!! most importantly!!!, it all happens in a upmoving fashion. This is an ideal strong uptrend.
Sundog
pma
Sundog
Trend direction is UP as both of you said. The consequence is like Sundog outlined. Buy pullbacks!
- very stong up -> dont jump on the train (even sell some exposure)
- pause, somewhat weak -> buy that dips ('train stations entry')
The position size will grow with that method. A trailing stop protects the position. Its like buying a call with a trailing stop.
But I found out an other interesting setup.
There was a countertrend strategy possible for the ES on a one point grid for the recent few days (even in that uptrending market).
The strategy here was to short against every 4 point move with a profit target of 4 points (trailing on grid).
Did you look at that opportunity already? (see attached chart of the ES with all the trades on it)
Sundog
Trend direction is UP as both of you said. The consequence is like Sundog outlined. Buy pullbacks!
- very stong up -> dont jump on the train (even sell some exposure)
- pause, somewhat weak -> buy that dips ('train stations entry')
The position size will grow with that method. A trailing stop protects the position. Its like buying a call with a trailing stop.
But I found out an other interesting setup.
There was a countertrend strategy possible for the ES on a one point grid for the recent few days (even in that uptrending market).
The strategy here was to short against every 4 point move with a profit target of 4 points (trailing on grid).
Did you look at that opportunity already? (see attached chart of the ES with all the trades on it)
Attachments
DAX trend is UP
There was a consolitation and meanwhile the FDAX broke out of the top.
Long signal 7470
SL 7420
Trail on 10 point grid
7420 is currently also the reverse point for bi-directional trades (SL 50 points). The reverse point will trail up with the stop.
There was a consolitation and meanwhile the FDAX broke out of the top.
Long signal 7470
SL 7420
Trail on 10 point grid
7420 is currently also the reverse point for bi-directional trades (SL 50 points). The reverse point will trail up with the stop.