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SPOOS Target Prices daily/weekly/monthly
- Thread starter Lojanica
- Start date
Quote from Lojanica:
Take 2.5 pt profit at 1102.5
Now FLAT again
Why?
We bounced off the "Zero line"
Better to take profits than turn it into a loser. Price is going up again. Need to establish a lower high and direction although today is a rotational day as expected.
The best trade would have been the buy at 9:06am.
Morning Recap:
Short at 1105 cover at 1102.5---zero line.
Price again barely tapped 1105 again once then made its way again to the "Zero line"
Better to take profits than turn it into a loser. Price is going up again. Need to establish a lower high and direction although today is a rotational day as expected.
The best trade would have been the buy at 9:06am.
If you read the strat thread you'll see market profile says if you cannot break through S/R then you'll likely rotate for 2-3 hours at that price--which is what is happening now..
Short at 1105 cover at 1102.5---zero line.
Price again barely tapped 1105 again once then made its way again to the "Zero line"
Better to take profits than turn it into a loser. Price is going up again. Need to establish a lower high and direction although today is a rotational day as expected.
The best trade would have been the buy at 9:06am.
If you read the strat thread you'll see market profile says if you cannot break through S/R then you'll likely rotate for 2-3 hours at that price--which is what is happening now..
I could talk about a lot of trading issues but suffice it to say the market is at a crossroads. Bull/Bear stalemate at present wedged up into the 50d ma on the daily. I feel like the market needs to breakdown, however, on the PIGS and Greece news, poor CCI, poor housing, and other dire stats/news we levitate. I will let the market tell me what to do next. In light of that fact I am flat as I believe many will be for the weekend unless something substantial happens in the afternoon session. Sunday night the futures market globex often gives clues for the following week.
Today has been a low volume rotational day as anticipated and although my total point yield is low it is positive. Had I been a more agressive rotational trader I could have banked more points and my FLAT position going into today was due to my feeling a rotational day was at hand. These can be great days to give back profits if traders are caught unaware.
So I'll take my small profits because somedays that is all you can ask for. I could try the afternoon session but I don't like friday afternoons typically.
My week
15.5 pt swing trade short
2 pt scalp long
2.5 pt short scalp
Total 20 pts.
Have a great weekend!!!
Today has been a low volume rotational day as anticipated and although my total point yield is low it is positive. Had I been a more agressive rotational trader I could have banked more points and my FLAT position going into today was due to my feeling a rotational day was at hand. These can be great days to give back profits if traders are caught unaware.
So I'll take my small profits because somedays that is all you can ask for. I could try the afternoon session but I don't like friday afternoons typically.
My week
15.5 pt swing trade short
2 pt scalp long
2.5 pt short scalp
Total 20 pts.
Have a great weekend!!!
Globex opened Sunday night sharply UP!!!
Get ready for squeeze higher screw job, then after the squeeze turn it around and head for 1050.
Just a guess based on "The market goes where the most players lose theory of price action."
Stockcharts P & F chart http://stockcharts.com/def/servlet/SC.pnf?c=$SPX,P
check sp500 point and figure.
Target 1130 if we break 1113.
Then 1050.
We are in a trading range.
Get ready for squeeze higher screw job, then after the squeeze turn it around and head for 1050.
Just a guess based on "The market goes where the most players lose theory of price action."
Stockcharts P & F chart http://stockcharts.com/def/servlet/SC.pnf?c=$SPX,P
check sp500 point and figure.
Target 1130 if we break 1113.
Then 1050.
We are in a trading range.
Quote from Lojanica:
Globex opened Sunday night sharply UP!!!
Get ready for squeeze higher screw job, then after the squeeze turn it around and head for 1050.
Target 1130 if we break 1113.
Then 1050.
We are in a trading range.
http://www.cmegroup.com/popup/mdq2.html?code=ESH0&title=March_2010_E_mini_S_P_500_(Dollar)&type=v
The Volume Profile Chart tell the story
Trading is like war. What I mean is that you need to have a strategy otherwise you're gonna get slain on the battlefield. As a small player all you can do is align yourself with the armies. There are two major forces: Buyers and Sellers. Figure out where the battlelines exist. Support and Resistance. Pick a strategic point to jump in with the stronger army. Let them do the heavy lifting. Then ride with the victors home with profits.