NAZ Futures - Chart from Today

[macattack]

How would I have caught the drop that started at 12:11pm?

I see a trendline break at the 2231 level, but that alone doesn't seem like reason enough to take the trade.

Were there any other things I should have noticed that would have got me in that huge downmove?

It seems like the NAZ was steadily going higher and then just tanked out of the blue.



I'll try to attach a chart, but chances are it won't work since I don't know what I'm doing.

 

[Anekdoten]

Trendline break of a high swing making an overall lower high when it looked like it was the bulls best chance to succeed. aka Possible bull failure

For real trendline breaks look out for bars closing below a flexible trendline (not too tight) plus an additional tick lower for futher confirmation.

Anek

 

[macattack]

Quote from Anekdoten:

Trendline break of a high swing making an overall lower high when it looked like it was the bulls best chance to succeed. aka Possible bull failure

For real trendline breaks look out for bars closing below a flexible trendline (not too tight) plus an additional tick lower for futher confirmation.

Anek

When you say "overall lower high" do you mean compared to ealier in the day?

When you say "Trendline break of a high swing".
Is a Trendline Break that comes immediately following a swing high usually a good trade to take?

 

[macattack]

Here's another one:

What would have been a reason to enter the downtrend that started at 6:55?

My eyes just aren't seeing this stuff.

 

[joeb8822]

what time zone you trade in ?

what do you use for momentum, direction and strength of trend

I don't want to confuse you so if you have something you use
right now, what is it ?

you can post back or PM me

Take Care,

Joe Baker

 

[macattack]

Quote from joeb8822:

what time zone you trade in ?

what do you use for momentum, direction and strength of trend

I don't want to confuse you so if you have something you use
right now, what is it ?

you can post back or PM me

Take Care,

Joe Baker

The times I posted are Eastern Time. I'm in the Pacific Zone.
I really don't use much of anything right now. Just practicing.
I always draw in trendlines and look at support resistance, breaking of new highs and lows, various other setups from Linda Bradford Raschke's book, CCI. I just want to be able to look at those 2 entries I mentioned and know how and why to enter at those times. I'm just not seeing it right now.

 

[TradEStar]

Quote from macattack:

How would I have caught the drop that started at 12:11pm?

That was one of our good signals with an entry in the 2234 area. There was a perfect criteria Basic Divergence and Extended Divergence at that time with weakening price channel positioning..real good entry point signal..

 

[TradEStar]

Quote from macattack:

Here's another one:

What would have been a reason to enter the downtrend that started at 6:55?

My eyes just aren't seeing this stuff.

We had a "technical" double top Basic Divergence Short at 2232.75 (second top no less then two ticks lower from initial top for basic divergence criteria rules). This was a good signal as price had failed to hold the previous price channel..

 

[macattack]

Tradestar, Thanks for your replies. Now I know a couple more things to look for in the future. Gotta train my eyes to see this stuff.