Diary of a swing spread better

[hungvir]

Big flag pole on the 30 min charts, but too late in the session. Not sure I'm focused enough for the last hr. Let's see. Missed a stonkin move from my post at 7-15, the one from the final whistle. That would have paid for the week. See Ben's been sticking his oar in again today....

We all missed the big move thanks to the game among others I don't like the chart one iota so I won't trade again today. That's it, 16 points up.

Have a good night everyone!

Hung

 

[hungvir]

Does it have 1hr charts?

If so the resistance is evident on these too, from the 8th & 9th of June highs.

Hope this helps.

Yes, it does. And I also saw resistance coming in at 10980.

Cheers,

H

 

[Splitlink]

Hi Split,

ARM and JLT bucked the trend yesterday. I found them while searching for shares to short. Have you traded these guys before?!

Good trading,

Hung

Hi Hung,

I only trade Footsie shares because I can't follow them all. NG. and AVZ both bucked the trend yesterday, too, but I got pipped out of them today.

Split

 

[chindl]

I took a quick 11 points on a 1 min flag about 8-15, a magnet trade. Could of held out for more, would normally target the pole distance, which would have been 40 odd points from the break of the flag but I'm not focused enough and decided to call it a day to watch Sweden when it bounced off 11000 about ten mins later. Bit of a mistake, as not retraced as we all thought it would. But, when you're not there, you're not there. The best thing about this game, if you miss something one day, well, with discipline, principles and sound money management you will always be presented with more opportunities the following day, or the day after, or the day after. Heres me chart.

Chris

 

[hungvir]

Good one, Chris!

The game is not as good as I like it to be so I'll only come in to watch when there's a goal.

Shall we make an oath to let our profit grow

Cheers,

hung

 

[hungvir]

And how MACD helped you with your last decision by the way?!

Thanks,

H

 

[chindl]

Oh if only, it's the blinking football - If I'm not feckin playin I wanna watch. I'm a man, I can't do two things at once, it's the feckin law!!!!!!!

 

[Slapshot]

Evenin all!

Didn't trade today after deciding to take a break. Couldn't resist taking a peak earlier though. Very straightforward day with clear entries defined.

Here's the chart.

Early short off the triple top with confirmation in the negative divergance on RSI, came off perfectly, easy 20 points there.

When the 100ema did give way positive divergance formed on both indicators and the up move swiftly followed. Take your pick of entry points, I've highlighted a couple.

Personally for me the formations jumped straight out and spotted them without any issues, if only every day was like that

Slaps

 

[chindl]

Nice one Slaps.
Another miracle comeback for the equities and today's rise on the back of Ben's speech about watching the rising commodities and ensuring that the ecnomy is aliged so as to prevent inflation. All helped by the timing, option expiration week of course. Everythin in my watchlist is up bar t bonds, corn and wheat. Praise the lord, the saviour has arrived (he has a greyy/black beard and sits in the FED)!!!!!!!
Good night everyone, speak tomorrow.
Chris

 

[hungvir]

Bye Chris! Enjoy the rest of the game if you watch it!

H

 

[Slapshot]

Nice one Slaps.
Praise the lord, the saviour has arrived (he has a greyy/black beard and sits in the FED)!!!!!!!

lol

 

[hungvir]

Evenin all!

Didn't trade today after deciding to take a break. Couldn't resist taking a peak earlier though. Very straightforward day with clear entries defined.

Here's the chart.

Early short off the triple top with confirmation in the negative divergance on RSI, came off perfectly, easy 20 points there.

When the 100ema did give way positive divergance formed on both indicators and the up move swiftly followed. Take your pick of entry points, I've highlighted a couple.

Personally for me the formations jumped straight out and spotted them without any issues, if only every day was like that

Slaps

Hi Slaps,

Thanks for the chart. I did not spot that tripple top. But I did go long where you second entry was and made 16 points. I think your method and mine only differ when the price just breaks thru the 100EMA. I would wait for a pullback to go in while you'll go in with stop loss below the EMA. I think your stop loss would tend to be bigger than mine but I may miss the move totally if there's no pullback.

Best,

Hung

 

[hungvir]

Now, that's the beauty of 'never give up'. The Sweds got a goal at 89'. The other day the German got one at 91'.

 

[Vaco]

Missed the follow on today as i did not get in yesterday then went short at 11980 and got stopped out for 50

Orders are in to go short at 11136 or long at 10985 those orders will stand untill one of them is triggered.

Good luck all

 

[Slapshot]

Hi Slaps,

Thanks for the chart. I did not spot that tripple top. But I did go long where you second entry was and made 16 points. I think your method and mine only differ when the price just breaks thru the 100EMA. I would wait for a pullback to go in while you'll go in with stop loss below the EMA. I think your stop loss would tend to be bigger than mine but I may miss the move totally if there's no pullback.

Best,

Hung

Hi Hung,

Horses for courses m8, yes I do get stopped out if the breakout fails but it's a trade-off against the longer moves and staying with the move while it's clear of the 100ema. I called the triple top earlier today, it was a little hard to spot as the range at the time was quite flat, take a look at the charts on posts 1516/17. Some may argue that it would be a counter trend move and therefore somewhat risky but failure to break the resistance line across almost 50 mins and range bound and very clear N/D put the odds very firmly in the favour of going short, if only for a quick move.

Cheers
Slaps

 

[hungvir]

Missed the follow on today as i did not get in yesterday then went short at 11980 and got stopped out for 50

Orders are in to go short at 11136 or long at 10985 those orders will stand untill one of them is triggered.

Good luck all

Hi Elefteros,

Haven't heard from you for a while so I thought your missus might have thrown the key to the computer locker away

It was really a big 'party' for the DOW yesterday - http://money.cnn.com/2006/06/15/markets/markets_newyork/index.htm. We might have seen the bottom of this correction.

Could you do us a favour please! if you calculate pivot points every day, please post the results here if you could! Thanks a lot!

Good trading,

Hung

 

[hungvir]

By the way, I truly hope that there'll be no buyers' remorse today and the DOW will keep surging up. Will look at the chart to see where potential support and resistance will be.

 

[hungvir]

On the 60 min chart, potential resistance will be at 11080 and 11255. If I go long later today, I'll look to take profit at these levels and may jump back on again if the price does not drop too much to make a new low.

 

[barjon]

By the way, I truly hope that there'll be no buyers' remorse today and the DOW will keep surging up. Will look at the chart to see where potential support and resistance will be.

hung

don't forget that head & shoulders neckline - oh, just look where the rise came to a halt yesterday :cheesy:

jon

 

[hungvir]

The rise on the 10 min chart is too steep to be sustainable. It might go back and test the 45 degree trend line later today and it will be a chance to go long if the averages still point upward.