firewalker

Not bad, half out at 132.98 for +100 pips, other half breakeven.

This is a papertrade (I don't trade commodities), but thought I'd join in with my 2c to see if S/R holds as well on these instruments: QM short 133.98 stop 134.11

NQ short 1973

3 months?! what are you off to? you'll be bored to death and get homesick for the markets :o

just got stopped out BE again hmm... that's enough for today then!

DOW long 12270, stop 60. btw, where did everybody else go?

scratch trade (breakeven)

ES short 1357.

hmmm out -2 again. clearly read that wrong!

stopped out -2 I re-entered at 70, stop 68. I believe that was just a bit too early on the entry.

NQ long 1971, stop 69.

As Soultrades has been so kind to post some live trades I thought I get myself somewhat familiar with the Asian ones I pulled up a chart to see the big picture, and was surprised to see that it's very similar to the major US indices. European indices (especially the DAX) followed a somewhat different pattern for topping. I was wondering what you guys meant with the volume issues... why is it deceptive? Is it because the liquidity is less than normal on some of the Asian indices but better on the Kospi? Had a look at some of the charts Soultrader posted and the volume seems around 3-5k per 5 minutes, that seems on average rather low?

Well done, looks like potential support around 134 from the 21st of May.

True, very common after a smooth trending day.

Everybody is still working their hangover :o I made a short earlier on, but was busy e-mailing. By the time I got here, 3 minutes had past and I didn't feel like putting on a blue peter kind of trade... my posts have always been within the next 30 seconds or so.

And if there had not been support at 67-69, would the break of the supplyline be sufficient reason to cash in a portion of your position? Am I right in saying that the high volume, 30 min after the open, is more or less insignificant for you because it didn't occur at any important price level (and the high volume is probably a function of the pending home sales report)?

I agree with wasp, one penetration of S/R does not mean it can't provide S/R in the near future again. Actually, I've found that by looking to the left or your chart, some zones will come into play even much later, when you wouldn't expect them to...

He copied my style :o Seriously, they look pretty much exactly as the ones I would draw... although there'd be less (200.90 and 202.61 probably originate from a lower TF).

This looks like a typical pattern that leads up to a break higher...

I should've formulated my response differently. I agree with what you're saying, but what I meant to say is that none of this translates into a concrete entry or exit Not that is has to... Brett Steenbarger in his books often tells us a bit about his strategy and where goes back in history to compare with a number of very similar trading days to see what happened next in those cases.

Interesting statistics, but as each moment in time is ultimately unique, I doubt you could actually benefit from this knowledge somehow

Thanks again for contributing here Soultrader Perhaps you could tell us a bit more about the markets you trade (perhaps post 'a bigger picture' chart), because I think most people here aren't really familiar with the KOSPI and likes...

I'm going to stick my neck out too and going to say: (a) the market can stay irrational for longer than... (you know) (b) even if parabolic rises usually signal the end of a move, they seldom reverse in the same way straight away (but it can happen) © would you exit your trade if you were in a long position?

What a day for oil :shocked: Oil jumped +10%... next thing I'll be paying 2EUR for one liter fuel for my car :\

If you have the neckline around 1370, then I would confirm because that coincides with my important support level.