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Trading Day Prep Work
Dow mini trading results - 05/07/07
The YM was trading up overnight and quickly settled back to where it left off on Friday.
It is a Fed week and things are usually slow until after that announcement. It is on
Wednesday this time. My plan is to try and get my normal goal today and then look at
tomorrow's open then sign off until after the announcement on Wednesday. I am not
a big fan of slow boring markets and I can live with myself if I miss some out of
character movement.
I started today off with my chart still set up like the group post I made this weekend
about the divergence filtering. I had a very similar trade set up on the 20tic almost
right after I sat down. It had no divergence below and gave a system sell signal so I
hopped in and took my profits at 5-pts after the divergence formed during the trade.
That set up a 100tic MC run that built a right shoulder for a head & shoulder look that
never panned out. I played the fall on the right shoulder as a 20-tic sell signal that
was testing the trend filter. It was on the North side of the filter briefly and not the best
looking system signal but it had some help coming off a crunchy at 13,328 and a
negative divergence at its back.
This was my morning. I will update more for the close if we get anything more to
report. As I said in the room this morning...take it slow until later in the week.
So far so good on another new-high week. (Here is the prior Post).
Results: 2 Trades Date: 05/07/2007 Gross Points This Week: 12 YM
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10:09
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S
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13318
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10:14
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13313
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+5.0-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 UP so I will look long initially and I will be using the 89-sma
for trend direction.
Its a Fed week and almost summer so its an interesting time to trade. Last year I
was preparing for a long slow summer and following the Fed announcement we
had the best few months of summer trading that I can remember. I wont complain if
it does a repeat but that was a rarity so who knows. I will take it slow this week and
shoot for targets a little lower than normal to account for the tighter ranges and
lower volume. The news is stacked for the rest of the week starting at 14:15 on
Wednesday. If we get some good movement before then I will join in but I will try
and wait for the no-brainer trades meanwhile.
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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