firewalker

can someone confirm? I just think I corrupted a whole thread by making a post where the first character was a '('... http://www.traderslaboratory.com/forums/f2/a-case-for-a-mid-term-4173.html#post45215

(Very) bad news always comes out near bottoms... Northern Rock was the same. This doesn't mean the bear is over imo.

took +35 at 475, other half stop 500

Better to be out, wishing you were in, then the opposite...

A case of screenitis me thinks...

stop moved to 500.

hmm.. you're right, 202 already... talk about falling!

ehm... I am reading this is a break and a retracement back... Hence my shorting at 490 (too early) and at 510 (looking good)... Notice also how volume dried up as we went from 480 to 510.

DOW short 11510.

-15 :crap: I'm doing as bad as wasp

short DOW 11490, final attempt

unfortunately the only thing I'm onto is another non-profitable trade ES out breakeven @ 1281 = 0

Long es 1281

out -15... off to a bad start

DOW long 562

Interesting friends you have Dinos I just wonder, what happens when he suffers slippage from news or something unexpected? He must not allow a trade to go against him much then...

Well it looks like I was a bit premature (rarely happens ) It's still a potential shakeout if we climb back above 204. 203.85 and right back up to 204. I need to listen to myself more. The plan was to wait for this to happen, then go long on confirmation if price goes back above 204. It has yet to do that, so my trade was not according to plan! Anyhow, with 45 minutes till US markets, I'll better start focusing on my own instruments instead of messing around elsewhere.

Bad S/R placement has caused me a whole lot more trouble than you can imagine! smbtnt will confirm as well... Especially the last part :o Check out 'Interview', he's good there as well.

Keep in mind I know nothing of this instrument, and I would like to know what the average movement per timeframe is, but I'm placing below the low of that the lowest bar, which would be about at 203.95.

Which reminds me of the trouble I had in July... June was extremely trending and I didn't except the NQ to stay rangebound for so long. We should've switched places then and back now!

I think in this case it has more to do with the trader not identifying S/R correctly, instead of the market behaving strangely. Fwiw, I know see a failure to make a lower low on support (on the miniscule 5minute chart that is). Going lower here is still risky but here is my papertrade: long @ 204.17.

Price sure is moving fast... 204 is already here. Still no long signal in my book, but this was the target level for shorts. A push slightly through 204 with a fast comeback high would signal a long.

I don't want to sound smug, but I thought you read my post in the analysis thread... especially the part about going long in the middle...

That's exactly what I was talking about... a short-lived bounce. Risking 58 to gain +100 is only just 1:2 and that's lower than the trades I want to select. But that's just me PS: good book

Just for the record, it's not because my plan doesn't give a long signal, that you or anyone else can't make profit on the long side. Having said that, if I was short, and if I had reason to believe your lines at 205.08 and 205.92 represent important support, then I would definitely close out a good part of my shorts. I would not reverse, because the odds favour a re-test, V-reversals are rare. Now, as the downtrend accelerates it usually ends in a selling climax. I would be looking at volume for clues here, but since we don't have that I can only observe price. I would zoom into a smaller timeframe and see what happens: the close of that candle on the right chart clearly indicates buying pressure coming in. If, again this is crucial, this happens to occur on support where you say it is, then a lot of people will be looking to buy some here. So yes, if that suits your style you might go long here, but I would not given the potential reward is not that much. I'm not sure at how many pips you're looking, but I prefer trades with a risk:reward of 1:4 or higher. I'm interested to know what your stop is on this trade, and the target...