cash hit upper trend line on weekly chart
buy day is below tuesday low ...
if that does not hold, then look for a buy day low violation on friday
pullbacks have been tiny thus far, so a long below wed trading hours low, during globex is also a possibility
buy day is below tuesday low ...
if that does not hold, then look for a buy day low violation on friday
pullbacks have been tiny thus far, so a long below wed trading hours low, during globex is also a possibility
monday is SSD ... for a short on a high made first.... above the high of SD ....
for a switch back to long
bears think the higher a market goes, the more it should start to fall
traders don't think... they just look for objectives made on the first move of the day
it is interesting what Taylor says about 10 point moves.
always look for an objective made first on a move of around 10 points
the pullbacks have been less than 10, but the volatility has been a lot lower too
don't really like to take shorts in a bull market but it is true that shorts play out a lot faster than longs do
... and as Taylor explains, a short play can allow the trader to lower the cost of getting long early when a drop comes fast and hard
for a switch back to long
bears think the higher a market goes, the more it should start to fall
traders don't think... they just look for objectives made on the first move of the day
it is interesting what Taylor says about 10 point moves.
always look for an objective made first on a move of around 10 points
the pullbacks have been less than 10, but the volatility has been a lot lower too
don't really like to take shorts in a bull market but it is true that shorts play out a lot faster than longs do
... and as Taylor explains, a short play can allow the trader to lower the cost of getting long early when a drop comes fast and hard
... on a short sell day when it opens lower on a gap down
taylor says to leave it until buy day
buy day starts with the globex session
there was no chance to short on SSD as the high was on SD
you could go long on a low made first on SSD, but a high was made first
...this is a perfect example of why it is so important to take profit on BD longs at the previous highs
..... if you hold on too long, you have to sit thru this kind of a drop sometimes
... this is also an example of how the daily objective method is superior to the 3 day method when the trend is not in full effect
.... it takes a lot of nerve to go long at the close, except that it was below the low of the previous buy day
taylor says to leave it until buy day
buy day starts with the globex session
there was no chance to short on SSD as the high was on SD
you could go long on a low made first on SSD, but a high was made first
...this is a perfect example of why it is so important to take profit on BD longs at the previous highs
..... if you hold on too long, you have to sit thru this kind of a drop sometimes
... this is also an example of how the daily objective method is superior to the 3 day method when the trend is not in full effect
.... it takes a lot of nerve to go long at the close, except that it was below the low of the previous buy day
SSD is a low made first below previous low
tues was buy day .... but went up instead of down
wed was SD .... inside day
thurs.... SSD ... tough entry because of the monday low .... could easily gone below that low as well
close is critical here .... if it runs back up to high... close out
.......... if it drops back to tues low, close out for a violation on friday
friday is next buy day
tues was buy day .... but went up instead of down
wed was SD .... inside day
thurs.... SSD ... tough entry because of the monday low .... could easily gone below that low as well
close is critical here .... if it runs back up to high... close out
.......... if it drops back to tues low, close out for a violation on friday
friday is next buy day
got the short for friday SSD
however, could have also gone above wednesday high
.....took a long on a 10 point pullback, however Taylor says don't go long on a high made first so that play is not part of the system
monday is buy day ... so ideal play would be a low made first below friday low for a long
however, it could be that the buy point was made before the close
if that is true, then on monday start looking for a short above previous highs
to sum up .... if you are looking for a buy under, if it comes early then take it.... if it comes late then wait for it
..... if you are looking for a short over, same rules ..... and keep the count the same regardless of the action you are taking
this way you won't waste time and you also won't get left behind
however, could have also gone above wednesday high
.....took a long on a 10 point pullback, however Taylor says don't go long on a high made first so that play is not part of the system
monday is buy day ... so ideal play would be a low made first below friday low for a long
however, it could be that the buy point was made before the close
if that is true, then on monday start looking for a short above previous highs
to sum up .... if you are looking for a buy under, if it comes early then take it.... if it comes late then wait for it
..... if you are looking for a short over, same rules ..... and keep the count the same regardless of the action you are taking
this way you won't waste time and you also won't get left behind
