firewalker

..out -15..

DOW short 460, stop 475.

entry with the fast finger eh

I think you're more like Kevin Spacey in American Beauty :haha: (btw: move this over to the banter thread, will ya)

to be honest, me neither! I was aiming for +20, +30 tops...

other half out at 430, for +60

We'll catch you on the way down, when you're jumping out off a plane :haha:

out half at 12466 for +24, stop moved to breakeven on rest.

DOW short 12490, stop 500.

hey, it was +185 :deal:

To be honest, I doubt it. People left long before wasp, me and you guys moved over last month. They didn't care then, and they probably won't now. After all, they've got 100000 members and the necessary views to attracts sponsors and vendors. They got all they need. It's funny that even on ET they come to realize how crap they are: "This site is 95% joke with people flapping their gums just to watch themselves type." Now it's just a matter of time before T2W realizes too.

I wouldn't say "beyond our control", because it was my decision to move my stop to there... in all fairness I think I should slap myself even harder, because the plan was to move the stop to breakeven. Not +1. :crap: Taking deep breaths only increases the suffering! Doctor told me not to do so because I have some bruised ribs :boxing: (don't ask how I got them!)

I think this is what you mean: http://www.traderslaboratory.com/forums/38917-post2.html

Guess you were absolutely right... Glad I only lost 15 points on that. That's me done for today!

ehm... thanks, I think seriously, it's good that a neutral observer tells me this! often they are better at spotting these things than I am myself However, in this particular case, I think I just put my stop 5 points too close because I wanted to "go" for a an early entry(*). I'm still convinced that shorting 440-450 is the right thing to do though... (*) reason being I have to leave in 20 minutes which probably explains the haste in taking an entry I otherwise would've waited a bit longer for

.. out -15

hmm.. it's the first time Crude Oil Inventories is annotated as "Medium Impact Expected" instead of "Low" (on forexfactory calendar)

I wanted to short 440 from the beginning, but I was typing a post here (other thread) while we went up there. The spike was on ISM news... often good for a reversal entry imo.

DOW short 12440, stop 55. (my limit entry got triggered btw, it was not a market order)

I hope you mean trendline curse

"still" yes, now it is again But not after it spent several weeks above it. Not just sticky above it, but clearly in free space... If you read the chart from left to right then one could see this: (a) break of the trendline end of April (b) touched the trendline around May 9 from the top side and went higher © continued to move higher towards last week of May, byebye downtrend? I mean, S/R may be broken at one point, but it can still provide S/R later. I'm not that sure about what it is exactly you expect trendlines to do after they've been breached (other than show the 'general' movement is still downwards, but you don't need a trendline for that).

The only reason I would extend a trendline is to see if there is a 'reaction' afterwards (what Schabacker calls a throwback) from the other side. If we take the red line dbphoenix annotated as the correct trendline, than you can see there is a potential throwback (green oval), but it coincides with my S/R zone around 12700. So for me, it's just coincidental. I'm curious as to what practical implications are for extending the trendline beyond this point. What exactly would you expect to see after the line has already been breached and touched from the other side and price is moving away from it?

"In judging volume behavior, allowance must be made for the fact that declining markets normally are accompanied by lower volume than advancing markets except, perhaps, at times when active liquidation is taking place. The reason for this is that bull movements attract a much greater public following than bear movements." - Wyckoff quoted from here: http://www.traderslaboratory.com/forums/f131/determining-the-trend-of-the-market-3873.html I'd like to quote jasont as well, from something he wrote in his blog: "Another reason I think is that the market moves down a lot quicker than it moves up. I guess due to the speed of the selling it is harder for people to get on board in comparison to buying." I'm bit surprised this thread hasn't got more attention, as I think it's an interesting topic to debate. If the public can't short (because not every investment tool allows the man in the street to sell short), or does not want to (because he prefers to "buy and hold"), why do we assume that selling happens faster than buying? Or is it perhaps not selling, but just liquidation of actual positions? If the public can only go long, and participation is greater in upmoves, should we not expect those moves to happen quicker and be steeper?

I know it's not predicting. As to "why not", I'd say basically because it's been breached. The trend might still be down, but I believe that any reactions to that line in the future will be mostly coincidental. But each to their own

Interesting. By extending it do you pay attention to it, I mean, do you expect that trendline to provide clues to the action in the future?