Week 3 Trades- Spookywill

[gosu 10]

I was fading my market structure so I would be on the right side for a breakout. Effectively I am short from 1370.

 

* * *

 

Yes I see that. I know you were leaning short and was just making a cute remark about the dizzy part.

[wshahan 10]

I closed my trade at 1366.75. We stalled out at where prices took off from this morning

[wshahan 10]

SPOOKYWILL TO GOSU,

 

I enjoyed the humor and I know you well enough to know that you are not mean spirited.

 

And we have no range today which makes for narrow margins, small trades, and frequent reversals. Hard way to make a living. But it can be done without inordinate effort.

Edited April 24, 2012 by wshahan
add on

[wshahan 10]

I closed the short because I didn't see much downside potential and I wanted to open to for a long entry.

 

In retrospect, this was an error, so I am looking for a graceful way to get back short.

 

If we hold 1363, I will probably go long.

Apple is self destructing, therefore the NQ is also heavily down, and the trend in breadth is negative.

 

All say don't go long and favor shorts.

 

In particular, be very careful fading the trend of breadth in the last hour.Apple reports its earnings after the close today.

Edited April 24, 2012 by wshahan

[wshahan 10]

enter short 1364.50 or better

[wshahan 10]

1363 did hold and prices fired out to the upside. However I re-entered short 1366.50. I don't see much either way, and "breadth is my frend."

Edited April 24, 2012 by wshahan
typo

[goodoboy 10]

sell1 ES june futures contract at 2370.00. stop 1371.75

 

I appreciate your work and analysis. Keep it going.

[clmacdougall 11]

1363 did hold and prices fired out to the upside. However I re-entered short 1366.50. I don't see much either way, and "breadth is my frend."

 

Hello, I've read several of your posts and have a recommendation for you. Please consider studying some of the material in the Day Trading The emini Futures thread. . These guys are into MP and are well versed in it. You would really enjoy it.

 

All the best!!

[wshahan 10]

We came back down to test the overnight high and morning low of roughly 1382 and prices so far have held there. I would like to see a double top structure form and have an opportunity to enter short above 1384. Be patient; we may not get a playable structure before the announcement.

 

Breaking the morning low would also give a sell signal.

 

Remember the FED, the trades today are liable to come after their announcement. I plan on being flat until the dust settles.

 

I was went short at 1382.25

[wshahan 10]

This is a quick trade to see if the recent low can hold. 1382.75 is a high volume point and I want to see if prices can trade away from it (lower.)

[wshahan 10]

close the short at: 1381.75, 1381.25 seems likely to hold.

 

We are getting too close to the Fed announcement to expect much movement now.

[wshahan 10]

there was a very bullish retest of the day's lows for the the truly adventurous, 1 tick spike low at 1380.25.

 

The eyes of the FED are upon us.

[wshahan 10]

makes life wrth living trade-I want to go short at 1385 or better, stop 1387. If I don't get stopped out by the Frd announcement, I will have a great reade. If I do, which is likely, I will reassess after the 1;15 announcement

[wshahan 10]

unfortunately I mised getting on by 1 tick.

 

At this point, the prudent play is to cancel the order.

Edited April 25, 2012 by wshahan

[wshahan 10]

I entered short at 1386.25

[wshahan 10]

we have divergences in the indices with the ES being the only one to make a new high. And breadth is no where its earlier high. and the risk reward ratio is very favorable. Very high risk as Bernanke is just staring his remarks. Stop at 1388.50

[wshahan 10]

lower stop to 1386 so we are playing on Bernanke's money. 1380.25 breaks prices to the downside. Big whipsaw potential, would not go short here.

 

Bernanke's remarks last til 2:15 CST.

 

There are 4 longer term tops in the 1389 area, so going through that area would produce a strong buy signal.

[wshahan 10]

we have a balance area from 1383 to 1381 and that is the key area for larger moves to occur from. However, today anything could occur.

[wshahan 10]

prices declined to the day's high volume price of 1382.75 and since have been building volume at higher prices, so the odds are starting to favor higher the upside..

[wshahan 10]

I entered long at 1386

[wshahan 10]

rise stop to 1385.25, internals not improving with prices. Breadth not near day's highs and divergences among indices. ES only one making new highs.

[wshahan 10]

sold 1385.50, volume dry up

[wshahan 10]

entered short at 84.75, maybe this time

[wshahan 10]

stop 1367.25

 

I am very late coming to the party, I just woke up.

 

We have a mature balance area of 12 day's duration and a potential failed breakout to the upside.

 

We should initially retest 1382.75 and see if that area holds.

 

Either way, we are due for a strong move.strong move. Based on yesterday, I think the most likely ultimate direction todayis up, but we willl see what the market says.

[wshahan 10]

I woke up just in time to short th low. the trade was to go long at the then low extreme. Scrubb trade at 1385.00