Pat494
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dow has never been easier... buy at support
DO NOT sell at resistance
Is this because the 5 min trend is UP ??
Is this because the 5 min trend is UP ??
firewalker99
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no, because the overall trend is up, and selling at resistance has perhaps been good for a scalp, but overall there hasn't been much "resistance" on the way up... (last couple of weeks) so if you try to sell it, it's much more riskier than just buying at support and picking up on a dip.
Pat494
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Thanks
I see my hourly and daily 18 Ma s are both up at the moment or would it be even longer ? Perhaps as appropriate to the shape of the curve ?
Sorry about all the questions but could be important
firewalker99
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and again...
long 13645 fut
long 13645 fut
firewalker99
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not sure what you mean by the shape of the curve, perhaps post a chart?
I don't use MA's...
Atilla
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If 13630 doesn't hold we are going down to 13600 for a test...
firewalker99
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Possibly, but that's a big IF for me...
Pat494
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Sorry no good at posting charts. Can't do !
What I meant was a flat ma rather than a steeply inclined one
firewalker99
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oh I see... I use trendlines
I guess you can consider MA's as dynamic trendlines (TL's)
I use different categories of TL's, depending on the steepness of the curve. If the 3rd TL I can draw is broken, I usually have confirmation of a trend reversal.
Pat494
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Right on - I understand !!
Atilla
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Well looking at the charts it's 630 - 650 narrowing virtually to a symmetrical wedge.
It's looking bearish to me but I am biased. I'm trying to see the long side and unless it breaks out of 13650 I think it will go down further.
No surprises if it breaks upside I have 13700 and downside 13609.
firewalker99
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firewalker99
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I'm going to hold on to the second part of my 3rd long trade.
Hoping that we can finally get out of this narrow range (obviously I prefer upside...)
Atilla
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Coming up to 5pm - Afternoon session kick off. Which ever direction it takes off - it will happ in next 30 mins. I hope to participate either way.
firewalker99
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Hi there Dinos, you always like to rack up some nice points in the late session.
I was wondering why you don't trade around the open, I personally find the open very interesting because of good volatility and often a reversal (although not quite so volatile last couple of days...)
Out for -8 looks bullish to me now
