Pat494
Legendary member
- Messages
- 14,614
- Likes
- 1,588
Well that's 3pm gone - still as flat as a pancake. No clue here.
I would have wished you success Stephan except I got 2 longs from friday !!
Any views
Last edited:
Well that's 3pm gone - still as flat as a pancake. No clue here.
I would have wished you success Stephan except I got 2 longs from friday !!
Any views
Yes it could go either way I feel, it can't go up forever without a shakeout but if it will come this side of my stop order only time will tell!
I guess the fact there are still bears left in the market can in itself reinforce the bull cause; I don't think we've seen the bear burning cresendo needed to signal an end of the bull run.
I am usually a very short term trader and this is my first longer term trade in a while using a larger stop and larger target.
I have to say I think it is harder than taking ticks here and there but sooner or later, if you want to trade in larger sizes you have to get a handle on trading on a slightly longer time scale so I'm trying to get a grip on it as one day I feel I'll 'have' to trade that way.
Good luck with your long, hopefully we can both be right. An old maxim I always think is true is that the market will always offer you a chance to get out.
I just hope I know mine when I see it! I hope this morning's dip wasn't it.
Stephen McCreedy
I guess the fact there are still bears left in the market can in itself reinforce the bull cause; I don't think we've seen the bear burning cresendo needed to signal an end of the bull run.
I am usually a very short term trader and this is my first longer term trade in a while using a larger stop and larger target.
I have to say I think it is harder than taking ticks here and there but sooner or later, if you want to trade in larger sizes you have to get a handle on trading on a slightly longer time scale so I'm trying to get a grip on it as one day I feel I'll 'have' to trade that way.
Good luck with your long, hopefully we can both be right. An old maxim I always think is true is that the market will always offer you a chance to get out.
I just hope I know mine when I see it! I hope this morning's dip wasn't it.
Stephen McCreedy
Pat494
Legendary member
- Messages
- 14,614
- Likes
- 1,588
Hi Brutus welcome - might go either way ?
stopped out at b/e. Seems to be oscillating, which means take the profit while its on the table imho
Dinos
Veteren member
- Messages
- 4,113
- Likes
- 714
Hi Brutus, I agree with Pat494, can go either way, I'm neither bear or bull, but trade what I see when I see it, as we speak, still in an uptrend generally. On my 1 min chart, just made new high 13162, RSI dropped below 50, MACD and Trix crossing, my final sign the is crossing of my ema (8&21), just touched 13150 a I'm typing this, a good few points had I been watching rather than typing this. I'll will now wait to see if the momentum on the macd and ema gathers and if the price remains below the 8 day ema, I will look to short, after confirmation on other timeframes.
Last edited:
brutusdog
Guest
- Messages
- 759
- Likes
- 194
hi pat / dinos,
just seems to me to be running out of juice near the highs, i'm going to stick with the trade over a few days as i planned. i have been trading intra day up till now so this could well test my patience! also might look to cover with a fixed odds in the opposite direction if it gets tricky. not really a day to be trading imho...
i would add i think when it does get out of this confusion area it's going to shift one way or the other.
just seems to me to be running out of juice near the highs, i'm going to stick with the trade over a few days as i planned. i have been trading intra day up till now so this could well test my patience! also might look to cover with a fixed odds in the opposite direction if it gets tricky. not really a day to be trading imho...
i would add i think when it does get out of this confusion area it's going to shift one way or the other.
Last edited:
firewalker99
Legendary member
- Messages
- 6,655
- Likes
- 612
ym short
short 13190
cash 13155
short 13190
cash 13155
firewalker99
Legendary member
- Messages
- 6,655
- Likes
- 612
exit first half at 13170 (13135) take +20
Dinos
Veteren member
- Messages
- 4,113
- Likes
- 714
Marvellous, love this index, still short, will hold until until macd crossover then close, if I hold over night, will set s/l sub entry point for protection.
Watching now 1 min MACD histo possibly starting a positive divergence move.
5, 10,15 Charts pointing downwards move min chart still do, as typing, trending down below 8 day enma, more short positions added.
Well done Firewalker
Watching now 1 min MACD histo possibly starting a positive divergence move.
5, 10,15 Charts pointing downwards move min chart still do, as typing, trending down below 8 day enma, more short positions added.
Well done Firewalker
Last edited:
firewalker99
Legendary member
- Messages
- 6,655
- Likes
- 612
firewalker99
Legendary member
- Messages
- 6,655
- Likes
- 612
Cheers Dino, well done yourself, it's been a while since I've shorted... so I probably exited too quickly (definitely my first half) but anyway I won't complain... would re-enter if there's a clear and weak retracement, but too close near the end now!
Patience did the trick today
firewalker99
Legendary member
- Messages
- 6,655
- Likes
- 612
no showoff Dinos... I've posted trades that were losers too
but that's all part of the game if you call them live
I actually hope that you guys will start shouting at me when I'm calling it wrong so I can get out in time
firewalker99
Legendary member
- Messages
- 6,655
- Likes
- 612
Exiting profitable trades too quickly is mine...
what's your target Dinos?
For those looking at ER2 and shorted... that one would have payed off big time, much more than YM relatively speaking... price bounced off the "obvious" support at 820.
Dinos
Veteren member
- Messages
- 4,113
- Likes
- 714
Firewalker, no specific target in mind, whilst the 8 day ema remains below the 21 ema, I will remain short, on a strong macd crossover I will close the position and reopen higher provided the ema8 remains in my favour.
My chart set up on various timescales are beginning to look bearish, so I'm hoping to keep this open until such times as I can take full advantage.
I'm currently 41 up from from my first trade and 17 from my second trade.
My chart set up on various timescales are beginning to look bearish, so I'm hoping to keep this open until such times as I can take full advantage.
I'm currently 41 up from from my first trade and 17 from my second trade.
Well it flirted with my stop at 13,211 (Jun YM) but the pull back came and saved the day.
The rising support has been broken and although I wouldn't think it means the end of the rallies for good the narrow new highs for the last couple of days should mean a more sustained soft patch as the bulls that bought the false breaks are made to sweat.
My trade is just in the money now from Friday and I'm targetting the 9ema currently around 13,040. Although I think 12,900 the level the Jun Fut gapped over to go higher that were the previous Feb highs might make a good longer term target as long as the 13,200 area isn't surpassed.
Stephen McCreedy
The rising support has been broken and although I wouldn't think it means the end of the rallies for good the narrow new highs for the last couple of days should mean a more sustained soft patch as the bulls that bought the false breaks are made to sweat.
My trade is just in the money now from Friday and I'm targetting the 9ema currently around 13,040. Although I think 12,900 the level the Jun Fut gapped over to go higher that were the previous Feb highs might make a good longer term target as long as the 13,200 area isn't surpassed.
Stephen McCreedy
Attachments
counter_violent
Legendary member
- Messages
- 12,638
- Likes
- 3,780
There was a Wolfe Wave in play at the top today ....and boy did it deliver....too busy trading it to post ..sorry
C V
C V
