6250 level will be well defended if it breaks next target 6230
6250 level will be well defended if it breaks next target 6230
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postman
You all know the dow will close UP today right!
piphoe
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http://www.zerohedge.com/news/2016-...-japan-shock-historic-bull-market-anniversary
"It’s a total shock,” Nader Naeimi, Sydney- based head of dynamic markets at AMP Capital Investors told Bloomberg. "From currencies to equities to everything -- you can see the reaction in the markets. I can’t believe this. It’s very disappointing."
Now I see what shook this loose.😱
"It’s a total shock,” Nader Naeimi, Sydney- based head of dynamic markets at AMP Capital Investors told Bloomberg. "From currencies to equities to everything -- you can see the reaction in the markets. I can’t believe this. It’s very disappointing."
Now I see what shook this loose.😱
Oscar Reed
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Falling markets = Nader losing commissions = Nader losing his job
papashangoo
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When I get the chance I will post the 1 min chart to back things up.
My first trade of the day was a loser. The price gapped down from the open by 32 points from the close at 7:50am just ten minutes earlier! Such a big gap is unusual for only a 10 minute period. There may have been some news taht created sucha gap, and I haven't checked back to see at what time Moody's downgraded Portugese debt. Anyway, I took the first 2 point move towards the gap at 8:01 and got stopped out a minute later right on my stop of 4.5 points. It traded sideways for 5 minutes and then broke down which I did catch. I was triggered short at 5699.5 at 8:07am on a 2 point move below the low of the 8:05am candle of 5701.5.
For a price target I always have the low of the morning as my first target, and then if it goes through that I look for the next support and resistance level below. It did hit the prior low at 5691.0, bounced 3.5 points before going back down to within 0.5 points of the next level below at 5678.5. I was a little greedy and had my target right on the level at 78.5 and didn't get filled. Usually I set targets a point short of previous support levels, which would have been filled this time. So much for getting greedy. I got stopped out at 88.5 which was my 2 point trailing stop.
In a downtrend I usually trail my stop to 2 points above the high of the last 1 minute candle. This is a good way to trail a runner, but sometimes a little tight and it does get hit early.
My first trade of the day was a loser. The price gapped down from the open by 32 points from the close at 7:50am just ten minutes earlier! Such a big gap is unusual for only a 10 minute period. There may have been some news taht created sucha gap, and I haven't checked back to see at what time Moody's downgraded Portugese debt. Anyway, I took the first 2 point move towards the gap at 8:01 and got stopped out a minute later right on my stop of 4.5 points. It traded sideways for 5 minutes and then broke down which I did catch. I was triggered short at 5699.5 at 8:07am on a 2 point move below the low of the 8:05am candle of 5701.5.
For a price target I always have the low of the morning as my first target, and then if it goes through that I look for the next support and resistance level below. It did hit the prior low at 5691.0, bounced 3.5 points before going back down to within 0.5 points of the next level below at 5678.5. I was a little greedy and had my target right on the level at 78.5 and didn't get filled. Usually I set targets a point short of previous support levels, which would have been filled this time. So much for getting greedy. I got stopped out at 88.5 which was my 2 point trailing stop.
In a downtrend I usually trail my stop to 2 points above the high of the last 1 minute candle. This is a good way to trail a runner, but sometimes a little tight and it does get hit early.
P
postman
You didnt need to look far.
I got a 50 point fill on the Dax this morning from yesterdays short.
P
postman
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postman
:clap::clap::clap::clap::clap::clap::clap::clap:
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:clap:...............😛.............. :clap:
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:clap::clap::clap::clap::clap::clap::clap::clap:
:clap:................................. :clap:
:clap:................................. :clap:
:clap:...............😛.............. :clap:
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:clap:................................. :clap:
:clap::clap::clap::clap::clap::clap::clap::clap:
Attachments
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postman
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postman
piphoe you must be a really young trader not to have this pattern burned into your retina through seeing it so often.
piphoe
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you've been right, up till now. this time its different 🙄
the market has an excuse
you might see 17,9 on your longs (assuming we taklking about YM)
P
postman
I'm exiting dow at 17,980
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postman
Done. Leaving it there for a while. Have fun.
........chuckles knowingly.
...think positive kurtosis.
