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Trading Day Prep Work
Dow mini trading results - 06/22/2009
The Dow gapped lower this morning and stayed in a solid one way trend through the
DZ before pulling back to on the 30-minute chart to brings its orphans back home. I
was happy to see some movement early and although being a little late after
dropping my son off at camp, I still found some plays in the trend and somehow one
against the trend while trying to play the 5-minute return to MC.
The first trade was the first sell below the 8,365 crunchy and it moved fast off the
signal giving me a pretty bad entry right into a spot where it formed the first PE of the
day. I am allowed to exit in those cases but I decided not to. Anything can happen. I
let it cool then and started shopping that first long toward the 5-minute MC, which
was my second signal. It didn't give a lot of room before the divergence formed and I
exited once it did. I then got a second chance at the move back below the crunchy
and I targeted twice the amount of the first try, which is how to do it on a second
attempt with same read. There is usually enough for that. My last trade was right
before I left to go pick up my little camper and it was a play where the 5-minute was
attempting to come back into the KC and failed. I took the first sell and it was on a
pretty good impulse but gave a nice clean pullback. Probably one of the best of the
day. I exited three quarters of the position manually as the divergence formed and
targeted Packers crunchy of 8,302 and my crunchy of 8,267 on the remainder. The
8,302 one filled soon after I left and the remainder was closed out at the closing bell
having not hit the target at 8,289.
Its FOMC week and I adjusted my days off to Tuesday and Wednesday this week so I
can be here for what I hope is the better action later in the week. I think we should
make better use of the webinar audio later in the week so those of you audio visual
learners can get some of your questions answered. Try and save up your questions
for Thursday and we will make the most of it. I cant tell you how happy I am that more
and more of you are taking the flow exercises seriously and working through them
and seeing the positive results of doing so already. I am hearing some cool things
from what you are learning there and I appreciate the feedback. Please share in the
room as well for the benefit of all.
(Here is the prior Post).
Results: 4 Trades Date: 06/22/2009 Gross Points This Week: 83 YM
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* For rules refer to Scalping the E-mini's
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All Times EST
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Looking towards tomorrow
The Pivot Trend Bias is DOWN so I will be looking for shorts early on a gap up that
acts like it wants to range and I will be using the 89-sma and A-D for trend direction.
The Declining Volume ratio came in at 93% today, which is technically an extreme
level. It usually shows up at the beginning of a move or the end of a move and does
tend to have some follow through in any case. We are back in the May range and
near a good point to form a neckline on a daily H&S. It will be interesting to see if it
ranges as much as it did in May or not. I am ready for some faster action after the
last couple months but we can only take what its giving. Plan on it ranging after
todays move and let it prove you wrong. It can travel quite a ways upward and stay in
todays bar so look for some more testing of those crunchies we just broke from
below if we are ranging.
If you are using Sierra Charts and want the automated alerts you can find them in
the Yahoo Group. The ones in the file titles system-alert.zip are the ones I use.
Have a great week! See you in the trading room.
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Good luck! Be sure to contact me through the links on the About Me page if you have
any questions. See my complete prep work for tomorrow.
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