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S/R Emini Journal
- Thread starter 4re
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Quote from 4re:
Romik,
Are you watching this pennant? I am sure you are.
I gotta run but I'll check back in a couple of hours.
Is that a 15 TF?
I cant understand how you drew the top line of the pennant. It just cuts through 2 shadows and does not attach itself to any particular starting point.
Quote from belavia:
You would therefore go long as it had broken out of it?
I was long at the high of a WRB (red) 1310.25, a breakout of the pennant helped, yet not enough to reach my PT, stop @ 1308, possible short @ 1306.50.
This thing is dieing to break out of this crappy range, when it does it's going to be done with a bang, trapping the range traders big time.
OK, I got my +2 pts, but this might turn out to be a big day. Waiting for another set-up.
This looks like the trap that I was referring to earlier on. We had quite a few range days, where buying support and selling resistance was pretty profitable and some would get quite used to this and start battling trend, because when it hits them, they still think they can sell the upside and buy the lows (vice versa obviously) and this is one of the ways to wipe out the account 100%.
This looks like the trap that I was referring to earlier on. We had quite a few range days, where buying support and selling resistance was pretty profitable and some would get quite used to this and start battling trend, because when it hits them, they still think they can sell the upside and buy the lows (vice versa obviously) and this is one of the ways to wipe out the account 100%.
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