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Nearly Naked (Simple Trades)

  • #2,241
  • May 26, 2010 6:43am May 26, 2010 6:43am
Quoting calderone
Hey Marc! Yes, I'm in. Gonna hold this one for a while.
Cool! I have to admit that I got cold feet at D S1 and took my profits.
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #2,242
  • May 26, 2010 6:44am May 26, 2010 6:44am
Quoting calderone
Hey Marc! Yes, I'm in. Gonna hold this one for a while.
Here is what I have for UCHF. Will be taking positions at weekly piv which is also a confluence area as well.
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  • #2,243
  • May 26, 2010 6:45am May 26, 2010 6:45am
Similar situation with UCAD
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  • #2,244
  • May 26, 2010 6:46am May 26, 2010 6:46am
Quoting Saxon
Here is what I have for UCHF. Will be taking positions at weekly piv which is also a confluence area as well.
Dumb question but a long position right?
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #2,245
  • May 26, 2010 6:49am May 26, 2010 6:49am
FYI. There is a gap higher on the SPY this morning. Shahab had a feeling earlier that we are going down today. Might be right as we need to fill the gap!
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When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #2,246
  • May 26, 2010 6:57am May 26, 2010 6:57am
Quoting MarcVUM
Dumb question but a long position right?
Probably a quick long. But will be watching to PA to make sure it can sustain. If it drops though, then short. With UCHF if UTL can wedge price through, that would be a concern. I attached a chart. Look for situations like this, so it all depends on when PA hits piv. Hoping for the blue, but red is possible, either way, we should get a small bounce which should allow for at least a BE trade.

If UCAD follows blue it will hit @ heavy confluence

All of these are what I want to see, but we rarely get what we want right
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  • #2,247
  • May 26, 2010 7:01am May 26, 2010 7:01am
US data bueno
  • #2,248
  • May 26, 2010 7:06am May 26, 2010 7:06am
Marc, I'm tempted to take a quick short on AU at S/R for a few pips.....tempted.....
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  • #2,249
  • May 26, 2010 7:13am May 26, 2010 7:13am
Quoting Saxon
Marc, I'm tempted to take a quick short on AU at S/R for a few pips.....tempted.....
8359? I was tempted to take one at 8346 D R1
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #2,250
  • May 26, 2010 7:22am May 26, 2010 7:22am
Quoting MarcVUM
8359? I was tempted to take one at 8346 D R1
PA is already on the move though

My concern is that when PA gets to some of these targets, it will be pretty shallow, that is, not steep So bounces will be minimal.

The best way to explain it would be the tennis ball and the wall. If you throw a tennis ball fast at a wall, it will bounce back almost all the way back to you. If you walk slowly up to the wall and lob it at the wall, it will usually just hit the wall and fall right at the base of the wall. The same is similar with PA angle and S/R. PA being the ball and S/R the wall. Except for with PA, it can blow through the wall with enough strength, so like a cricket ball would have been a better example I am just hoping for some fast PA and no shallow stuff near S/R. That is another reason why I don't usually set limit orders. The last few bars before an S/R are the most important and the deciding factor if the wall will hold.
  • #2,251
  • May 26, 2010 7:28am May 26, 2010 7:28am
Quoting Saxon
PA is already on the move though

My concern is that when PA gets to some of these targets, it will be pretty shallow, that is, not steep So bounces will be minimal.

[color=#211600]The best way to explain it would be the tennis ball and the wall. If you throw a tennis ball fast at a wall, it will bounce back almost all the way back to you. If you walk slowly up to the wall and lob it at the wall, it will usually just hit the wall and fall right at the base of the wall. The same is similar with PA angle and S/R. PA being the ball and S/R the...
Also, if I see a bunch of dojis right before an S/R, that is a bad sign too, see attached.
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  • #2,252
  • May 26, 2010 7:32am May 26, 2010 7:32am
Quoting Saxon
PA is already on the move though
My concern is that when PA gets to some of these targets, it will be pretty shallow, that is, not steep So bounces will be minimal.
Ya, I use the same principle. If I see PA consolidating near an S/R and then looks like it will spring I stay away from the bounce trade. If we are far from an S/R and PA is moving fast to it with long candles I will usually take the bounce trade.

Kind of choppy again today... Wacky Wednesday. Full Moon as well. Lots of wicks. I'm standing to the sidelines.
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #2,253
  • May 26, 2010 7:33am May 26, 2010 7:33am
Quoting MarcVUM
Ya, I use the same principle. If I see PA consolidating near an S/R and then looks like it will spring I stay away from the bounce trade. If we are far from an S/R and PA is moving fast to it with long candles I will usually take the bounce trade.

Kind of choppy again today... Wacky Wednesday. Full Moon as well. Lots of wicks. I'm standing to the sidelines.
Aren't you supposed to be golfing today
  • #2,254
  • May 26, 2010 7:33am May 26, 2010 7:33am
Quoting Saxon
Aren't you supposed to be golfing today
I should go hit a few balls on the range to clear my mind.
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #2,255
  • May 26, 2010 7:38am May 26, 2010 7:38am
PA is on the move across the board
  • #2,256
  • May 26, 2010 7:46am May 26, 2010 7:46am
That's the sharp move I was looking for as stated previously.
Attached Image (click to enlarge)
Click to Enlarge Name: au.jpg Size: 152 KB
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #2,257
  • May 26, 2010 7:50am May 26, 2010 7:50am
A/U. My best suggestion is to let H4 candle close at 1pm est and then go long or go long at D R1 8346.
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #2,258
  • May 26, 2010 8:04am May 26, 2010 8:04am
Holy crap, check out AUs H1 candle
  • #2,259
  • May 26, 2010 8:05am May 26, 2010 8:05am
Quoting Saxon
Holy crap, check out AUs H1 candle
I know man. This is ridiculous.
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #2,260
  • May 26, 2010 8:07am May 26, 2010 8:07am
Quoting MarcVUM
I know man. This is ridiculous.
Banked 48 pips but got out too early it seems TPd at 00
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