For those who may not have visited the Links on this blog, you may want to do so as there is quite a good resource of articles on the NQoo's Library Link...A few articles by Joe Ross and there is also "Jesse Livermore - Reminiscences Of A Stock Operator" & "Phantom of the Pits". Both of which are in PDF format.
Today being a holiday eve (here in Singapore), I've decided to post a FUN Link...Test your paper throwing skills! Have fun & enjoy your Holiday Weekend!
Review of last night's trades. What can I say? Just one of those nights, waiting for the market to show it's hand and when everything seems clear, it slows down, and I get sleepy...it shouldn't be known as "day trading futures". It should be "night trading futures" for us over here in Asia. LOL.
Looking at Pre-Market action, the bias is still UP. Looking for a PPF to go LONG. Whether in PRIME or not, we shall see.
08:36pm With this pull back in PRICE, I hesitate to go LONG, because the TREND has just shown a possible challenge of last Oscillation support at 1369.25. - If at PRIME, going LONG is not wrong, but it must result in a BREACH of 1376.75. However, if a PPF occurs (on the trading chart - upon a challenge of 1376.75 Resistance), I will go SHORT.
09:32pm SHORT 1374.25. STOP 1375.25
09:36pm Move STOP to 1374.75
09:38pm In PRIME. Taking profit at 1373.00. +1.25pts
09:50pm SHORT 1372.75. STOP 1373.25
09:53pm In PRIME again. Taking Profit at 1371.25. +1.50pts
10:03pm PRIME PPF to go SHORT? Or are we at the end of the move? Because TREND chart is now in PRIME. If going SHORT here, PRICE must test 1369.75 and BREACH. Having +2.75pts in the pocket, will be a bit cautious here, to protect the profit.
10:12pm Still watching PRICE movements...Good to just stand back sometimes to just WATCH. Some signs of PFs to go LONG.
10:40pm CHOP.
11:14pm Tonight being a holiday eve, I 've decided to call it a night. Best reason to preserve the profit made.
Friday, October 20, 2006
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2 comments:
Hi! Gerimegaly,
You read the price action very well! Impressive decisions to go in and to stand aside.
I do have one question. You had some background in Elliot. Does Elliot appear in Vol. charts?
Cheers!
Space
Hi Space,
thx for your kind words...
Frankly, I've left Elliot in my past. It was always a problem trying to name, and rename each Wave. Just too subjective in nature. My advice is to look at the particular index/currency you intent to trade, and do as much screen time as possible. And you will find that after a while, it behaves in a certain manner where certain trades are high probability trades. Cheers!
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