dc2000
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My appologies Im used to posting on the other BB.
A brief description of the way I trade, the targets I post are based on the cash price unless otherwise stated this is done to keep consistancy but I do trade futures aswell and alter entry or exit price accordingly.
So for today it was short down to target ( didnt quite get there ) then jump on the futures as it was late in day.
For the rest of the targets I expect 360 to come early tomorrow and bounce around for most of the day with 253 coming late tomorrow early wednesday then hopefully 395 but I NEVER HOLD OVER THE WEEKEND
These targets are not EOD prices they are intraday turning points produced by my strategy they are not intended as an invitation to trade
A brief description of the way I trade, the targets I post are based on the cash price unless otherwise stated this is done to keep consistancy but I do trade futures aswell and alter entry or exit price accordingly.
So for today it was short down to target ( didnt quite get there ) then jump on the futures as it was late in day.
For the rest of the targets I expect 360 to come early tomorrow and bounce around for most of the day with 253 coming late tomorrow early wednesday then hopefully 395 but I NEVER HOLD OVER THE WEEKEND
These targets are not EOD prices they are intraday turning points produced by my strategy they are not intended as an invitation to trade
If the RS switch doesn't go, you can be safe in the knowledge that it will provide support as RSI drops down the support slope towards O/S. The point A failure tells you it isn't going to "fly", but you should track down RSI as it moves down the slope. Easy out on the ND bump top- named because the second peak in the price OR RSI produces a 'bump' in the post analysis. You can't know this is what it is going to turn out to be, until after the event!. In the case of the RSI bump, it's much harder to catch the ND top because the 2nd peak does not qualify the setup for an ND top - there is a higher high in price AND RSI. It's only on the 3rd peak that the setup can be seen to complete. You have to be quick to spot it and close. The bump setup in the price is much easier as the 2nd peak has the classic set-up for the 3 pk ND top.
I read with great interest the 'Dark Siders', but wonder if they are able to find an exit with such precision as one can with the divergent tops and bottoms....
I read with great interest the 'Dark Siders', but wonder if they are able to find an exit with such precision as one can with the divergent tops and bottoms....
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CM, A question re yesterday's 1 min if you don't mind.
I took the 2nd + 3rd peaks of your bump top as a short (in conjunction with an ES dbl top and tick div)
1845 - 1930 produced a 3 pk pos div for an out and 35 pts. Unfortunately this proved not to be the bottom.
Would you see this as one of the few occasions when the 3 pk doesn't give the best exit, or am I missing something obvious?
Thanks,
hampy
I took the 2nd + 3rd peaks of your bump top as a short (in conjunction with an ES dbl top and tick div)
1845 - 1930 produced a 3 pk pos div for an out and 35 pts. Unfortunately this proved not to be the bottom.
Would you see this as one of the few occasions when the 3 pk doesn't give the best exit, or am I missing something obvious?
Thanks,
hampy
Hampy You're right, it didn't work. Coming off RSI 20 one could reasonably expect the PD to do the biz. I don't think you missed anything, especially as the price came off the 3rd peak quite quickly. Probably , like most 'bad' calls, had you waited just one more tick, you may well have stayed in.... All I would say is that you covered for a profit ( I presume) so that's good. IF I were looking to go long on a PD, I would look for confirmation with divergent ES volume. Reason? It could turn into a losing tradeas in this case. I think it's better to take the known setups, than chance holding in for a little longer and losing some hard earned profit. Nothing works all the time, unfortunately. :cheesy:
Hi CM
Spotted the P/D which ended at 15.00 entered long at 10350. At 17.07 slope change on RSI plus third peak on Dow just after so closed at 10360. The Dow also below 100 and 200MA touched a couple of times 17.50ish. I then thought might go short but did not. The Dow then hit 10385. How could I have read things better that would have given me an extra few points.
Spotted the P/D which ended at 15.00 entered long at 10350. At 17.07 slope change on RSI plus third peak on Dow just after so closed at 10360. The Dow also below 100 and 200MA touched a couple of times 17.50ish. I then thought might go short but did not. The Dow then hit 10385. How could I have read things better that would have given me an extra few points.
Putting some time markers in will help.... You should have got out at the 3rd pk at 370 ish 17:10. Then waited for an entry. The loss of 100 MA would be good, BUT it's close to 364 and that's not a good place to enter a trade until that area is clear, one way or the other. No choices are easy..... Except those you make with hindsight. 
tradesmart
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Noticing that a lot of these moves are consistently following the 5-wave sequence, some more obviously than others of course, but a feature to watch for……
Also one ‘peak’ today coinciding with the end of the US EST morning session around noon, leading into another ‘peak’ to start the afternoon session around 2pm US EST, and plainly a short signal….
As CM says, “time markers” are worth taking into account…….
Also one ‘peak’ today coinciding with the end of the US EST morning session around noon, leading into another ‘peak’ to start the afternoon session around 2pm US EST, and plainly a short signal….
As CM says, “time markers” are worth taking into account…….
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