tradesmart
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IMHO it will head for 10080/10120 to make a 50%/61.8% fib retracement of the last downleg....
I'm on board long so maybe I'm biased..........
Edit – (chart attached ) interesting how very short term PD (about 10mins) at about the right time (after lunch US time) can signal the lead-in to such an explosive move…..nice…..!
I'm on board long so maybe I'm biased..........
Edit – (chart attached ) interesting how very short term PD (about 10mins) at about the right time (after lunch US time) can signal the lead-in to such an explosive move…..nice…..!
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Last edited:
Time will tell if that was a good exit. So why , do I hear you say, did I ignore the ND bump top.? Why did I ignore my own rules? It's a bit like driving. When you pass your test you know you can drive..... but how many day to day experiences have you had of various driving conditions/ situations? As you become more experienced, you will get to recognise little differences that will tell you to modify your analysis to better effect. I wonder how many new drivers have yet to find out what happens when they slam their brakes on over Black Ice...... Those with that experience know that it's a bad idea to do that.
Think of it as speed limits. If you stick to the speed limit, you can drive all day knowing you ain't gonna get nicked. ..... Go over, and you always run the gauntlet..... But if you pass a speed trap under the limit, you just know there isn't going to be another one around the next corner..... :cheesy:
Think of it as speed limits. If you stick to the speed limit, you can drive all day knowing you ain't gonna get nicked. ..... Go over, and you always run the gauntlet..... But if you pass a speed trap under the limit, you just know there isn't going to be another one around the next corner..... :cheesy:
tradesmart
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It's found a patch of black ice in the shape of the 2nd trendline from the top on the 10min chart CM...........
I'm hoping that the resulting skid will propel it to 120...........(wishful thinking maybe......?!....... )
I'm hoping that the resulting skid will propel it to 120...........(wishful thinking maybe......?!.......
)
A tough day followed by an easy day..... getting in on the pullback to 87 which sat on the mid line resistance/support. Then sit on it until something shows up. First is the 3 pk ND ( split across yesterday) so take an exit for 50 and see what happens? Next up, a bull flag develops with the entry right on10K/100MA. At this point, target is T1 for 60, or get out at 9980 worst case, 9999 if you're of a nervous disposition/want to play ultra safe. As it is, it goes the distance, albeit slow through the lunch period......Two choices..... close on the bump top ND or hold at 10,040?.... or even at T1 with 2 pk 30 min ND.... Tough call. Either way, take a chance on a long at 21 as RSI bottoms at 30 again? If you didn't go for that, you surely should have taken the break through the 100MA AND 32 AND 32 retest..... and that would have been a nice earner with that strange gap to 60.Then came a double 3 pk ND top. I talked through that earlier. So 100+ again with not too much difficulty,
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TraderTony
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Got away with it today!
I very nearly made the same error as yesterday - holding on too long - but thankfully the 100ma +/-20 saved me for a nice winning total.
Two trades in total:
- The first a bit of a gamble going short on 10:15 est (10031) on trend line breaks on both CCI and RSI with multiple ND on CCI. Held only for return to 100ma as no real desire to be short. Out for +19.
- I then waited a little for break of bull flag to go long at 11:02 est (10011) which moved up nicely. After yesterday, I should have exited at the strong single ND at about 13:00 est for +40 or so, and would have taken at least half off if trading multiple positions. As it was, I held on and got into a mess over lunch coming very close to stop out for a loss. However, as I said above, CM's 100ma -20 kept me long and I was lucky it came good. Having been fortunate once, I exited a little early at around 10085 on what I read as T1 from the bull flag for +74.
+93 overall on the day.
I very nearly made the same error as yesterday - holding on too long - but thankfully the 100ma +/-20 saved me for a nice winning total.
Two trades in total:
- The first a bit of a gamble going short on 10:15 est (10031) on trend line breaks on both CCI and RSI with multiple ND on CCI. Held only for return to 100ma as no real desire to be short. Out for +19.
- I then waited a little for break of bull flag to go long at 11:02 est (10011) which moved up nicely. After yesterday, I should have exited at the strong single ND at about 13:00 est for +40 or so, and would have taken at least half off if trading multiple positions. As it was, I held on and got into a mess over lunch coming very close to stop out for a loss. However, as I said above, CM's 100ma -20 kept me long and I was lucky it came good. Having been fortunate once, I exited a little early at around 10085 on what I read as T1 from the bull flag for +74.
+93 overall on the day.
