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Trading Day Prep Work
Dow mini trading results - 09/04/07
The YM started slightly lower after the holiday weekend but quickly found support off
the crunchy level at 13,336. Despite the slow pace by 10:30 market breadth had
moved into trend territory. It continued to push up all day until it ran out of steam at the
13,506 crunchy while forming an orphan. From there it just settled back to close on
the 13,456 level. It sure feels slow out there compared to the elevated volatility we
had when I last traded but it is nice to get back to normal anyhow.
I had four trades total and all were using the 25x as a directional filter. The first trade
was an attempt at the first stall on the 5-minute using the 12-second for a take-in.
This was before A-D had committed to trend levels. Only the second one took
advantage of the wider trend with a 12-second take-in after the 5-minute MC run early
in the day. The much nicer MC run occurred over my break so I missed that one. My
third trade had some room for profit as my time stop was ringing off but I didn't use it
and ended up just bringing the stop in over one of the swing highs formed during the
trade. It was also a 12-second take in for a 5-minute stall. That is my most common
trade entry filter.
My last trade was my favorite as it had a good sized orphan up against that crunchy
and then gave a nice deep signal. I was looking for the trade a little higher in the run
but didn't get the signal. When that happens the only thing to do is just to account for
the extension length and let the pullback be proportional.
I am looking forward to getting back after the long break I had the last week or so.
Things are getting back in order and its good to see people progressing in the room
still. Thanks a lot to those who have stepped up and helped others in the times I
have been out. I encourage people to ask lots of questions take full advantage of all
the resources being made available.
(Here is the prior Post).
Results: 4 Trades Date: 09/04/2007 Gross Points This Week: 24 YM
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10:14
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S
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13381
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10:18
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13371
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+10.0-pts
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80%
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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.
The Advancing Volume ratio came in at 78%, which tends to lead to some follow
through. The daily chart is above the neckline on an inverted head&shoulders and
looks due for a test of that neckline. Today that neckline was down on the 13,282
crunchy but tomorrow it will be a bit lower. That is a good place to watch for some
possible firming up. The right shoulder on that thing is not great but there is a
series of crunchy levels there as well and if it does find some traction there it could
be a good launch point for a bounce. You can see the VIX has not broken its
neckline yet. I will go with that as my initial plan an use A-D for intraday help on
trade direction.
If you are using Sierra Charts and want the automated alerts template let me know.
I will either send them to you or I can upload them to the Yahoo Group. The few
people I have shared them with are giving great feedback. I set them up for the
benefit of the room but I have to admit I am finding them useful as well. As a great
philosopher once said..."one less thang."
I will continue using the 8K9C filter for my primary trading and as the teaching tool in
the trading 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 week! 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.
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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