Everybody is sleeping today-LOL! So I'll get 'er started.
+5 and -5 were successful
Lines I will have today include:
+/5 and 10 off open.
2106.75 Fri High
93.25 ON low
1976.5 Fri Low
1952.25 FOMC low
That's it
Good luck today!!
NE
NewKid
Rep: 16,470
Posts: 1,915
Bands for the day. It is a new day and a new week so good luck to all!
Click image for original size
BI
Big Mike
Rep: 8,097
Posts: 696
TYPO CORRECTION
2076 Fri Low
2052 FMOC Low
2076 Fri Low
2052 FMOC Low
Originally posted by Big Mike
Everybody is sleeping today-LOL! So I'll get 'er started.
+5 and -5 were successful
Lines I will have today include:
+/5 and 10 off open.
2106.75 Fri High
93.25 ON low
1976.5 Fri Low
1952.25 FOMC low
That's it
Good luck today!!
BR
brent.t
Rep: 560
Posts: 103
Hi Big Mike you said that +5 and - 5 were successful, was that off todays open or some other reference point? Brent.T
BI
Big Mike
Rep: 8,097
Posts: 696
Cheated a little this morning and split the difference between an area of lines and got filled @ 5.75. Almost thought I was going to miss it by being too cute.
Hope others rang the register.
Hope others rang the register.
PA
PAUL9
Rep: 14,898
Posts: 1,170
Big Mike,
Today's open was 2100.25... add 5 to that = 2105.25... but at that price, do you just blindly sell or do you use some sort of price pattern?... and what would the target be for something like that short (assuming it was taken)?
what happens if price just blows through the (Open + 5) and runs to the (Open +10)?
Today's open was 2100.25... add 5 to that = 2105.25... but at that price, do you just blindly sell or do you use some sort of price pattern?... and what would the target be for something like that short (assuming it was taken)?
what happens if price just blows through the (Open + 5) and runs to the (Open +10)?
BI
Big Mike
Rep: 8,097
Posts: 696
Paul,
Normally I would have been set @ 05.25 but had ON high and Friday's high nearby so I set @ 5.75 to mitigate a larger stop.
Directly to your question, I set limit orders at +/- 5 after the open. The reaction off those levels that I have seen over time IS the price action (for me anyway) If it blows thru 5 so what, it's a loser part of the game. i would try again at 10.
I have found when I try to avoid losers it just doesn't work for me, I trade my setup.
Targets are a scalp for a point on the bulk and runners looking for the nearest HVN to run for comfort-LOL (like today there was a composite HVN @ 02, so right in front is the ultimate target).
Normally I would have been set @ 05.25 but had ON high and Friday's high nearby so I set @ 5.75 to mitigate a larger stop.
Directly to your question, I set limit orders at +/- 5 after the open. The reaction off those levels that I have seen over time IS the price action (for me anyway) If it blows thru 5 so what, it's a loser part of the game. i would try again at 10.
I have found when I try to avoid losers it just doesn't work for me, I trade my setup.
Targets are a scalp for a point on the bulk and runners looking for the nearest HVN to run for comfort-LOL (like today there was a composite HVN @ 02, so right in front is the ultimate target).
Originally posted by PAUL9
Big Mike,
Today's open was 2100.25... add 5 to that = 2105.25... but at that price, do you just blindly sell or do you use some sort of price pattern?... and what would the target be for something like that short (assuming it was taken)?
what happens if price just blows through the (Open + 5) and runs to the (Open +10)?
PA
PAUL9
Rep: 14,898
Posts: 1,170
Big Mike, right now we're right back up at 2106.00 leel, is this a place you would re-short? What happened to the short you took at 05.75?
BI
Big Mike
Rep: 8,097
Posts: 696
I only take the level once (doesn't mean it's not a good level again but I don't trade it like that). My short was taken off at 4.75 and runners @ 2.50
Originally posted by PAUL9
Big Mike, right now we're right back up at 2106.00 leel, is this a place you would re-short? What happened to the short you took at 05.75?