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elovemer
Market Wizard-
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Everything posted by elovemer
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82.75--83.75 ----------------------------- 83.5....80.5 manage 82.75....79.75 manage trend ? ...edit....there is gap below
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...if 77.25 breaks... ..next short signal would be 73.75.....83.75 if not, the DT will give the down move more fuel
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66.5....76.5 ...stop 78.5 (entry at 75.5-76.5) (if entry is 76.5, it is up to trader to use 79.5 stop or not) high was 77.25 so... manage at 74.25 and again at 73.5 on this kind of entry... the gap is going to be below the entry... which is what you want
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... take reversal when you do not detect trend ... take trend trades when you do detect trend ... if you detect trend, then either stay out or use alternative tactics .... usually at the open, the trend has not yet been established ...it's nice to get a signal at a 50% retrace of a larger trend move ... i hope that is what you meant, if you meant How to detect trend, then please see previous posts in response to Blow
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...here is an illustration of why it is better to go with the trend ...price goes beyond 10 points...and comes back to retest it ... in effect, rather than acting as support.... it becomes a level of resistance taking long signals in face of the trend is dangerous here on the other hand....using the 10 point level as a place to enter with the trend is a good idea
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9/18 ......... ......... ...........
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03.5 .......94.5--93.5 ............................... could not make it to 94.5
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03.5 ......93.5 ............. .............. ..............
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...one nice thing about this is... ... the trader can have resting orders in place.... so that a down thrust stop run like that does not keep the trader from entering
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88.5 ....78.5.....68.5 next long
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87.5 not hit yet ................ ............... edit.... manage at 87.5 next short at 91
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91........81 manage at 84 ............................... and again at 87.5 ..................................... if trader believes trend is down... ... then reverse to short at 4-5 ... or 85-86
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92.5.....83.25 turn .......................... 83.25...... 92.25--93.25 globex
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... would have been a nice short.... but never reached 9 points... .... up to the trader to take that short or not
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couldn't even make 9 points at 00.25 ..edit... 01.25 could still be valid
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91.25 .....01.25 ........ ......... ........... at 20 pnt globex range... is less likely to make a 3rd move in same direction
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...look at current trend.. ...angle and shape .. 9/18 was unable to cross down on the pullback after last short signal ...before next short signal..... possible DT at prev rth high ... if that breaks... will have more steam
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take some off at plus 6.5 or ... 92 plus .... is 98.5 ...up to trader to take off some hold on until next short ....look at trend ...next short signal at 91.25.......01.25
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on a 92 reversal... move stop to BE when 95 is hit .....95 hit ......................................... ...now double top has to hold for long to not work if DT breaks... will give more energy to the move
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94.75 not hit yet ............. .............
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91.25 so far... on a reversal
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...if you didn't see a trend.... then manage at 93 and look for next long
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91.75 so far ........... ............ ............. stop would be at 89 .....on a 92 reversal ........manage at 91.75 plus 3 ... or 94.75
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86...96 is the short.... unless the trend is telling you something ,,,, 06 ............................ if you see trend.... then reverse to long at 4-5 point pullback 92--91 ...using a 3 point stop ............................................ 91 is also 50%
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on 91 short manage at 89 and 88 -------------------------------------- if one believes trend is up.... then reverse to long at 88--87 ... still using a 3 point stop