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dans_ya_man
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Buy 12785
good trade dans ya man, i was way to early.
looks like the channel/wedge will be broken today unless it can bounce 60 points in the last 45 minutes.
dans_ya_man
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cheers breadman, just closed at 12835
dans ya man i also closed out 12840 for -42. are you a follower of the MACCI indicator which grey1 has provided to traders on this web site as your entry and exit match the 10min MACCI to the point.
dans_ya_man
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No I just follow price action on different time frames, looking for good support/resistance areas
dans_ya_man
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Nice bounce up from 12720, not convinced though, if 12700 breaks the next test will be around the 12635 area
dans_ya_man
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That will do me for today, took a short at 12848 and closed at 12750, not going to go against the trend and loose my winnings, ill wait to see where she lands first
dans_ya_man
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Sorry meant to say 12748/12650.
Yep off to watch the footy now, good trading all
Yep off to watch the footy now, good trading all
firewalker99
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At April 17 the market was trading above the levels we now have at the DOW (just saw 12592).
You have to wonder how the 'Technical Traders' are doing right now... one month later...
Phil Mibbutz
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The Technical Traders will shortly be appearing kicking their computers in a Youtube video like the one posted here a while back!
Wonder if it might still dive more before the close? 12500's a nice round number.
Wonder if it might still dive more before the close? 12500's a nice round number.
what about grey1 then, at the start of the year he was adament bear, then of april 17th he becomes a bull...............just goes to show you his fundamentals were right in the first place like i thought and i was very surprised when he soon became a bull
Hey ! Fancy seeing you back here ! Thought you had packed up and shipped out ?
firewalker99
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I'll open my bags one more time to proof TA works and this week has been exemplary.
Every signal out there was screaming for a short. Yesterday's action should not have come as a surprise... Price (resistance), volume (or lack off), kiss of the SMA(200), candlestick theory, VSA, divergences,... the number of elements that lined up all at once was just amazing. Even indicators and the Fibonacci/Gann time targets (which I'm not familiar with) pointed out by earlier were spot on to point towards the 19/20 May as potential top (*).
You have to wonder why anyone would look for answers outside the chart, especially when so many elements point in the same direction.
___
(*) well done breadman... but why the hell did you go long yesterday?!
Phil Mibbutz
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Funnily enough, FW, yesterday I had three profitable longs and lost most of the gains on shorts
chilltrader
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erm... just recovered from ecstasy of y'day (and thats not only the footie).
had been pyramiding shorts on the DOW for a while now and had a very nice day y'day.
I can imagine how Ronaldo felt to be let off after missing that penalty and still winning!
a.k.a "out of jail card" !!
P.S: I'll not be trading for a solid month now (only paper ones if at all) - all focus on a bag of Trading
books I bought and some earmarked threads on this board.
dans_ya_man
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I think we will be within this 13150/11450 range for quite a while now, not enough confidence out there to see it push through
Looks like we are on the down swing now, so will be looking for shorts on failed reversals.
Looks like we are on the down swing now, so will be looking for shorts on failed reversals.
Funnily enough, FW, yesterday I had three profitable longs and lost most of the gains on shorts
firewalker,
the reasons for going long around the 12600 level were that 12575 is the 38.2% of the january low to the may high. market was oversold on the 60 to 360 min charts. the adv/decl indicators were over sold. cci indicator was over sold on a daily, we had a 500 point drop with no real bounce on the way down. the oct high/dec high trend line which we broke 24/25 april to the upside was hit from above.
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