Bonds, Currencies, Commodities and Index Futures Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Bonds, Currencies, Commodities and Index Futures

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Woody who wrote (12202)	5/1/2013 1:40:33 PM
From: Chip McVickar	Read Replies (1) of 12410

Hello Woody... Good question... When a window opens and the market reverses direction... then that high is considered the fulcrum... In this case there were a cluster of TPs before 2:00pm on April 29th from cash charts going back 3-5 days or off 15-30-120 min charts The market indeed did reverse right at 2:00 and at 1596 into the 30th low of 1586... nice move To reverse and close at a high of 1597 But I didn't feel the market closed with conviction... plus there was a TP on the open for May 1st... Now... if you're trend trading you have to match your time/price goals to the chart period you're trading with how you get in and out No doubt trading a 3min chart you were out of a short very close to the 1587-88 area... You might even have reversed to a long off your momentum signals With a 15-30 or 120min time/price chart frame you would have had different choices... you might have added on to your shorts and been very pleased to do so at the 2nd 1596-97 Does this make sense...? Chip

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next