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This is a discussion on FetteredChinos's Blog within the Trading Journals forums, part of the Reception category; well, after a nice early down move on wednesday, i thought the profit target would be hit. indeed we fell ...

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Old Aug 12, 2004, 10:04am   #31
 
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not quite going according to plan..

FetteredChinos started this thread well, after a nice early down move on wednesday, i thought the profit target would be hit. indeed we fell just 20-odd points short. then we had a mega bounce for the rest of the day, and broke tuesday's high. balls

im not sure if this invalidates the 3 pattern, and instead turns the week into a 5. will have to check the rules once more.
if it was a 3, we would expect a down day thursday early on, hitting the 9818 target, then looking for a bounce at 9750.

it is has turned into a 5, then we would expect a down day thursday, and friday, not looking to bounce until we hit 9707 for a speculative long....(according to the rules, no trades opened on a friday....)

we shall see.

although the disaster stop is in at 10023, im still not sure of the exit point when a 3-week fails. will have to read DCs weekly review on sunday.

FC
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Old Aug 13, 2004, 9:14am   #32
 
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score 1 for Genesis

FetteredChinos started this thread Target hit on thursday. confirming what looks like a 3-pattern week.

nicely hit the 9818 level, and we're out for +105 for the week.

no further trades until next week.

been a relatively low-volatility week so far...perhaps building for a longer-term move up? no idea.

just trading the days as they come.....

more to follow next week.

FC
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Old Aug 16, 2004, 9:19am   #33
 
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new week, new trading levels...

FetteredChinos started this thread right, after the action of the past week which took us virtually no-where,

our orders are in today to sell at 9933, and to buy at 9717 or so..

doesnt look like there has been much movement in the futures over the weekend/morning, so if these targets are going to be hit, it will either be very late on monday's session, or more likely, tuesday..

am just concentrating on the DOW at the moment, but retrospectively seeing how it performs on the FTSE...

FC
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Old Aug 16, 2004, 9:24am   #34
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FC
Your sell @ 9933 = R3
Your buy @ 9717 =S2

Have you found that the suggested trading levels usually correspond with the pivot s/r

9717 is some way from the year low of 9815. If it were breached I think I would be wary of going long immediately.

Regards

bracke
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Old Aug 16, 2004, 9:29am   #35
 
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FetteredChinos started this thread nope i havent noticed a correlation with the pivots. looks like a coincidence really. but it would be interesting to see if this is a regular occurance. would add a bit more credence to these levels, which do appear to be slightly arbitrary sometimes!!!

thanks for the input

FC


Quote:
Originally Posted by bracke
FC
Your sell @ 9933 = R3
Your buy @ 9717 =S2

Have you found that the suggested trading levels usually correspond with the pivot s/r

9717 is some way from the year low of 9815. If it were breached I think I would be wary of going long immediately.

Regards

bracke
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Old Aug 16, 2004, 4:11pm   #36
 
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premature execution...

FetteredChinos started this thread always a problem..

anyway, sell order hit at 9934. since this was triggered on monday, i THINK we are looking to cover this short at 9864 either today or tomorrow.

then we await re-entry at the same levels on the wednsday, as this looks like it could be a 5-week.

oh its so confusing...

FC
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Old Aug 16, 2004, 4:16pm   #37
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9864 very close to the 16/08 pivot R1 at 9859

Regards

bracke
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Old Aug 16, 2004, 4:21pm   #38
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So you are looking for a gain of approx 70 points.

Are you trading this using the Sept Future ?
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Old Aug 16, 2004, 4:26pm   #39
 
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Quote:
Originally Posted by bracke
So you are looking for a gain of approx 70 points.

Are you trading this using the Sept Future ?
yup i am..

this is where genesis seems to fall over...

using a 100 point stop for a 70 point gain when the trade is triggered on a monday.

not good R:R at all...

still, we shall see.

FC
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Old Aug 17, 2004, 5:11pm   #40
 
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yowser...

FetteredChinos started this thread well we came close to being stopped out for -100 (holy moly)

then things started to return to normal as we are in the middle of a bit of a pullback at the mo.

still targeting 9864 today (100 points away as i type!!!) (trade is -30 at the mo)

then looking for another entry sometime later this week.

i hate it when weeks dont go according to plan!

FC
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Old Aug 18, 2004, 8:55am   #41
 
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big down day today...(perhaps!)

FetteredChinos started this thread after yesterday seemed to confirm a 3 pattern, im looking for a whopper of a down day today (wednesday)

FTSE seems to have responded well thus far this morning, lets hope the DOW follows suit this evening.

i need to get my snooker money from somewhere....


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Old Aug 18, 2004, 10:42am   #42
 
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subtle change

FetteredChinos started this thread right guys, instead of targeting 9864 today, we are in fact targeting 9829 today.

since monday's trade didnt trigger a close on either monday or tuesday, it seems as though we have reverted to a standard 3 pattern, and therefore targetting the full amount, rather than the shortened 70 points...

i hope the rest of you are now getting an idea of how difficult the manual is to deal with!

FC
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Old Aug 18, 2004, 10:47am   #43
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This is a very cunning ploy.
As the dow rises you move your target lower.
I assume there is some logic in there somewhere......what is it ?
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Old Aug 18, 2004, 10:52am   #44
 
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Quote:
Originally Posted by bracke
This is a very cunning ploy.
As the dow rises you move your target lower.
I assume there is some logic in there somewhere......what is it ?
nah, it is because the pattern for the week changed.. the sell target was hit on the monday, but because we stayed up round that level on tuesday, we were anticipating a bit more aggressive action. as it was, the aggressive action was in the wrong direction!!!

FC
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Old Aug 19, 2004, 9:35am   #45
 
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Ugh..

FetteredChinos started this thread oh well, cant win them all.

stopped out after the DOW went ballistic last night..for -100.

looks like we are in a trend week, todays action should confirm.

no further overnight trades this week.

current state of play..

2 trades, 1 win, 1 loss. overall +5


Phil Collins plays drums...



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