were we given a warning?
Posted by Cire2222 on Jun 8, 2008
Just something I noticed the day before fridays large sell-off. About mid day thrusday we had been trending up all day, then a quick spike down came in with the largest volume of the day before the market continued it’s rally higher took give the look of a very bullish day at the close. On friday as soon as that same area was re-tested the surge in selling came again. Black box selling?? who knows. Below you can see a 2 day 5 min chart of the S&P mini futures.
Signs to look for a signal
Posted by Cire2222 on May 22, 2008
I think we all know that with most technical indicators you can’t take every single signal, you can’t take every MACD cross, you can’t take every RSI oversold signal and so on. You would lose your money really fast. So what needs to be done when using basic technical indicators is looks for signals, or warning signs of a potential move. Thats when you step in and take your signal. Below is an example of a trade you could have taken today in the s&p futures market. you can see steps 1 & 2 give me a heads up that I should look for a sell signal. Thats when you take the indicators signal, that way your not jumping in blind with full trust in an indicator.
Trade review
Posted by Cire2222 on Apr 22, 2008
We has a gap fill trade set up going into today, It worked out perfect for us for a $400 per contract gain and our target was right at todays lows. Here is a follow up chart to the original call.
Going for the Gap?
Posted by Cire2222 on Apr 21, 2008
If we can get a break of todays lows I think we should be able to go down and fill the gap left on thursday. Below you will see a chart on the S&P mini futures showing the gap.
The Sea Change has begun
Posted by Cire2222 on Apr 18, 2008
My recent post on the ’sea change’ seems to have started today. Just as expected Oil hit 115 and has begun to fall, the dollar is getting a boost accross the board and gold is selling off hard this morning. This is just what I was looking for. If you are not involved in these trades already then I think it is a fairly safe trade to get short these markets (long dollar) and put stops at recent swing highs in an attempt to catch a big correction move. Im not getting too excited yet but this could be it guys, this could be what I have been calling for. Keep your eyes peeled!
How to use pivot points
Posted by Cire2222 on Apr 16, 2008
Many of you have heard of pivot points and may use pivot points in your trading. I wanted to go over a possible way for you to use them in day trading. Below you will see a Dow Mini futures 5 min chart with that days pivot points plotted on the chart. There are a couple of various formulas to compute the pivot point numbers but the standard formula is as follows:
Resistance 3 = High + 2*(Pivot - Low)
Resistance 2 = Pivot + (R1 - S1)
Resistance 1 = 2 * Pivot - Low
Pivot Point = ( High + Close + Low )/3
Support 1 = 2 * Pivot - High
Support 2 = Pivot - (R1 - S1)
Support 3 = Low - 2*(High - Pivot)
Once you have calculated your pivot points your ready to use them. You may have heard other ways to apply pivot points to your trading but I would like to show you how pivot points have helped me on any given trading day. This is a list of trade set-ups I will take using pivot points:
- On an open at or near a pivot point I will stay on the side lines for a clear break in direction
-On an open in between two pivot points I will Fade the first test of a pivot point
-On the first solid break of a pivot point I will Buy/Sell the first pullback to that same pivot point
-On the third test of a pivot point I will go with the move in anticipation of a break
-typical stops are set a few points from the pivot point
-typical exits are half the distance to the next pivot point and the complete distance to the next pivot point
Below is a 5 min Dow futures chart with trade set ups noted. As you can see, on a day that has alot of movement this simple set-up can be very profitable. For any questions visit the tradersbase.com forum
Tues Review
Posted by Cire2222 on Apr 15, 2008
Today oil popped up to new highs and we entered our short position in USO. I will watch carefully the next few days, I am expecting oil to get no higher than 115 during this trade and i expect a downward move to begin by thursday, If this criteria is not met I will exit the trade. INTC released earnings after the bell sending index futures up much higher tonight. Expect tomorrow to bring a much more volitile trading day. I have no bias in this market right now. I still like gold as a short, It is stuck range bound waiting for the follar to pick a breakout direction.
Thurs night review 4/10/08
Posted by Cire2222 on Apr 10, 2008
Solid day trading today, not too much on a swing basis, FOREX markers could get wild soon. Not expecting much tomorrow but next week should be wild!
Wed night review
Posted by Cire2222 on Apr 9, 2008
We got the sell off that I mentioned yesterday, Gold worked out well again then reversed, I hope you guys had good exits on that. Couple stocks performing well and one giving a hard time. Hope your trading went well today!
Tuesday night 4/8/08
Posted by Cire2222 on Apr 8, 2008
Not much changed today for our swing outlook so I will keep it Simple
S&P futures - I still think we move down a bit more before any attempt at a breakout move
Gold- Todays short in gold worked out well we were able to cover near the lows. As i posted in the forum tonight we are trading in the 920’s again and I think it is another good short entry for gold
EUR/USD- Still in wedge with a bearish bias.
USD/CHF- Still in wedge with bullish bias
USD/CAD- Least favorite of the forex trades is this pair short, has been too choppy
Stocks: I have posted the charts for many stock charts in the forum, INTC , CVX and BIDU were shorts mentioned yesterday, X is a new short that I like here as i think it may be over done short term. These should all have fairly tight stops.
