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Wednesday 01-09-08


My plan is to buy down here and slightly below Tuesdays low...so 94.50 is where I begin....with the large range on Tuesday this should be the day to buy the breaks and sell rallies.......also I am not expecting huge weekly range extension today given the internal divergences


1401 even is my first target.....

Risk on all this is the obvious big sell off yesterday and the fact that we are below the 1395 - 1400 zone...

I think we need to see today close above 1405 to get something going on upside.


I edited this here to include the Pitbull trades:

Market opens and trades down to the minus 2.5 so you are the buyer of the opon price.////Good for 1.5 points....

Market rallies up to the plus 5.5 so you are selling the plus 4...Good for 1.5 points...



Anyone want to include a 5 minute or one minute of the first 90 minutes? I'm too lazy and my free IB charts kinda suck...lol
stopped out and back again...1393.25 and 1393.50. this time I keep it at 1393.25.

This is fun...sideways channel...just waiting for it to bust up or down..I'm betting up.

song remains the same bye for now.
Pips

You said you had a minor problem spotting a dragon pattern and the hypotenuse ( a dragon pattern is my whimsical way of tracking stock market patterns)

this is how i see the nq 3min now;

drawn a fib ratio of 1.272 from the rear leg up to the back (1.272 is square root of .618)... that will give you the longest leg of a right angle (hypotenuse) ... the middle of the longest leg of a right angle is equidistant ... we are there now as you can see

my target is at or near 1910 where i would expect support ... if i go long after reaching target i will not go long until i pass the equidistant on the way up (i.e. trend line break)

wish me luck lol



[file]NQ.jpg,126,,0[/file]



and here we are at the end of the right angle


hmm, maybe those fellows that built em pyramids back then knew what they were doing...i wonder if they traded the stock market too



[file]NQpic2.jpg,126,,0[/file]







quote:
Originally posted by gio5959

if i go long after reaching target i will not go long until i pass the equidistant on the way up (i.e. trend line break)


long at trend line break and are now reaching right angle target (hypotenuse)



[file]NQpic4.jpg,126,,0[/file]
Thanks Gio....cool
quote:
Originally posted by gio5959

Why did I go long when I did? Simple Elementary Stuff, I guess.

1. Price made a 123 pattern

2. Price crossed its 10 bar ATR (average true range -black line)

3. Price made a 'price pivot' when crossing the ATR - (higher low and close above prior high)
a. price pivot can seen by looking at the #2 and #3 bars

4 Price made a bullish divergence off the RSI from it's oversold range and crossed the RSI midrange line ( 50 )

I hope this helps !


What is Paltalk? I'l go hang out there. I'm not an educator like you, wish I was.


[file]ES.jpg,126,,0[/file]





Do we have a Zeppelin fan in the building?
quote:
Originally posted by pips2007

song remains the same bye for now.


Nice NQ trade Gio....and good explaination .....appreciate it
Hey gio great stuff can you do that with ER and ES....tks

Well there we are as my earlier post I mentioned a high area of 1412.75 and 1421.75 and 713.70 and 722.30 respectively. I kept getting stopped outbut with a profit....Yes I did not take those hundred dollar profits....I was trying something... and also to prove a point to myself. Usually, I do get it much easier....lol

I did not give a low area as I expected 1391 to be a low...but I had a low area for ES and ER and I wont post number it now because people will say its after the fact. Suffice to say it was very close to the low areas...and this is where I did go long.

But I posted the high areas this morning when we were down at 1393-1395 levels. And as a bonus it did start to move in the aft. This is one way of trading and my way of trading, although I would like to incorporate gio hypotenues, dragon, single prints...Bruces triples and methods. However, I hate running 5 min and lower charts...so maybe figure a different way.

Yes I did go long 2 on ES and 1 on ER at the lows. I cashed out my ER at 713.70 and 1 ES at 1412.75.

The next ES I will let run up to 1385+40 =1425 or 1385 + 50= 1435.

We should be expecting a price and time regular move..up down up. In other words 1-2-3 in an up fashion.

But I still love Gio and Bruce's stuff. I like drawing and charts although I am nowhere near a good as gio's.

I do not like indicators.

Yes Bruce I do like Zepp, Santana, Clinton/Funkadelic et al..Van Halen, Hendrix, Benson, Al DiMeola, John McLauglin, Isley Brothers, Miles Davis...oops I digress....yes a long time ago....But now I drink scotch and listen to Jazz...Pat Metheney and the like.....Man Pat was big in 85/86....how the years and my hair has gone..well I still have a few curls.

Hey we are traders....One Nation under a groove.

Keep posting...gio and Bruce...you guys are the front runners and the real traders.



yeah, those are good songs but if this good trading keeps up maybe we should start singing

"We're Too Sexy For This Market"...by, Right Said Gio


did i hear someone say they were buying the scotch? let me light up my cigar cuz i'm up for that !


lol


EaE Hmm...

sorry I could not help it. After all the Course sellers in the so called "Learning how to trade Futures" section.

comedy affair.there...really....

Don't listen to them...and make money. I told you 40 pt and 50 pt targets yesterday FOR FREE...FREE. Check it out.

None of those expert...sorry X pert...at the "Learning to trade Futures" did..but they want your MONEY...honey...

"Dynamo Hum...where that Dynamo comin from...I done three hours and I aint got a Profit...I got a course that will make you HOT...Just OOH..OOH..just give...ooh yeah...just give me ....ooh...ooh..just..just...GIVE ME YOUR MONEY........I got a SPOT THAT WILL MAKE YOU HOT...just pay me $7,000 for it....Dynamo...Hum...Frank Z.

Parody yes...but true...Too many Maggot Brain....Funkadelic.

Goodnight.....wherever you are.

Best