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Trading Day Prep Work
Dow mini trading results - 03/26/07
The YM started off weak and spent the morning testing down into the vacuum created
in last Tuesday's post-FOMC announcement rally. Since that announcement we have
been spinning our wheels on the daily chart while forming a system sell signal,
which triggered on today's close. After the morning selling ran out of steam we
formed a bottom and rose through the lunch and afternoon sessions ending on the
12,530 crunchy. The range came in at 108% of the 20-day average and volume was
decent, which adds some credibility to the daily sell signal.
I had just two trades today and reached my goal. The first was a 20tic system buy
signal after a HH was formed. It had a little more than enough room to reach target
but it ended up testing lower again after the trade and that led way to a more reliable
system buy signal on the 4tic chart as prices were unable to move through the lows. I
rode the second trade through a 20tic pullback and stayed in until it reached my
target of the 500tic MC. There was plenty of room left over after that but I didn't
re-enter.
I am glad to be getting back into a groove again in the room as far as my schedule
goes. I hope it continues to be a help to people and we continue to grow as a group.
So far so good on a normal week. (Here is the prior Post).
Results: 2 Trades Date: 03/26/2007 Gross Points This Week: 28 YM
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10:45
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L
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12471
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10:49
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12481
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+10.0-pts
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100%
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All Times EST
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* For rules refer to Scalping the E-mini's
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Looking towards tomorrow
The Pivot Trend Bias is FLAT so there is no bias and I will be using the 89-sma for
trend direction.
The weekly and daily signals are still in that conflict point where we are in the
middle of a weekly buy and a daily sell (triggered today). The weekly has already
spit out a couple hundred points of gain after the 2/27 fall and is nearing or at a
good place for a lower high. If that is the case then the daily sell should kick in.
There is a swing below that could use some testing as a first target.
The Declining Volume ratio came in nearly neutral after the afternoon bounce. It
ended slightly above 50%, which is below the minimum reading level. I will look for
weak advances as opportunities to sell if it looks like that daily signal gains some
traction. If the market just blows it off and goes in rally mode I will look for my
smaller time frames to get on board for a test of those swings above that have not
been tested since the 2/27 decline.
I will continue to be using the 8K9C filter for my primary trading and as the teaching
tool in the room. It is going well and seems to have helped most people clear up
the mental cobwebs and focus on an easy to see and use filter. If anybody is
struggling on this I encourage you to contact me either in the room or by email.
Have a great day! See you in the trading room. May God Bless you ~
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Those who are joining the intraday trading room please feel free to ask questions
on anything you are trading or any system related questions you may have.
I started a new yahoo group recently. It is to facilitate the distribution of the
newsletter. Use the form above to join. There is no reason for users of the system
to join as you already have access to the private room.
I recently uploaded the Trading-Focus audio and posted those links in the Yahoo
group for those who want to use it.
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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