Day Trading with TTT and other tools
| Home Daily Notes Forum Economic Events Indicators Calculators Articles Dictionary Search | Login |
| Home Daily Notes Forum Economic Events Indicators Calculators Articles Dictionary Search | Login |
|
|
Author
Topic
Posted - 09/04/2008 : 16:07:24
Hi All,
I not sure if there is a lot of "heat" on Rich about his numbers using TTT but I thought I would give my point of view for tomorrow before his points are made know. Big down day, so probably the range will be small and choppy tomorrow while everyone figures it out, so I will be flexible. According to the cycle Rich has his book in tomorrow will be a Sell Short Day. Will I be doing any short selling, probably not, at least not expecting a big decline. I will probably play both sides a WHILE after the market opens. INITIALLY according to my interpretation of Taylor, (and I have read the book a few times but need to read it more!!) I expect a lower prices shortly before or after the open and then a small rally. After that I will be flexible looking for good, quality patterns (bullish or bearish) to enter on and take profits at the first sign of reversing. That is my plan for tomorrow. Good luck for tomorrow! WHOOPS, I just checked the reports for tomorrow, a BIG report DAY tomorrow. Watch out, I will be flexible after things calm down, but I will still go by the plan I mentioned above as long as the opening meets my expectations. Take care, Jim
Jim
Posted - 09/04/2008 : 16:29:59
hi jim
i have similiar expections for tomorrow too and since tomorrow is a SSday and based on rich'ttt and positive 3 day rally we should get above the Bday low of 1265.25 gio
Posted - 09/04/2008 : 16:52:23
quote: Good point and a true statement. Hopefully there is a place that we can all find to enter. We'll wait and see = )
Jim
Posted - 09/04/2008 : 18:06:15
[/quote]
Good point and a true statement. Hopefully there is a place that we can all find to enter. We'll wait and see = ) [/quote] well, for starters, we are at the 8/4/08 60min es dp now - lets see if that holds if not, then below is the 7/29 60min es dp - and, thats a possbile rich's ttt number good luck g
Posted - 09/04/2008 : 19:42:42
Unless there's a surprise rate cut, don't expect to see 1265.25 tomorrow.
Posted - 09/04/2008 : 19:52:17
quote: I don't necessarily disagree with you, but based on the statistics that is what I get. Maybe the news tomorrow will change the attitude of the markets. We are in a bear market and we also have 12-14% odds of getting a failed positive 3 Day rally. If we don't make it all the way to 1265 I believe the market will still give it a try. Time will tell
rich@taylortradingtechnique.net
www.taylortradingtechnique.net These comments are for educational purpose only and do not constitute trade recommendation.
Posted - 09/04/2008 : 22:14:59
quote: The market will go wherever it is going to go whether or not there are economic reports or news stories for CNBC to cite as the reason or cause for price action.
ddaytrader
Posted - 09/04/2008 : 22:33:22
quote: The market will go wherever it is going to go. A surprise rate cut is hardly necessary to prompt a simple test of broken support to see if it was a false break or if it will now hold as resistance, especially when that prior low lies between a 50%-61.8% retracement of the prior swing.
ddaytrader
Posted - 09/04/2008 : 22:52:34
"The market will go wherever it is going to go."
No kidding, and 1265.25 isn't where it's going.
Posted - 09/05/2008 : 00:37:09
quote: That's a true statement, and the market is always right but I'm sure you see my point that the market will be a little crazy starting out tomorrow. I do agree that the entity that moves the market does regardless of the news, does tend to conform with the TTT numbers. But somedays are prone to screwyness = ) Jim
Jim
Topic
|
