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Trading Day Prep Work
Dow mini trading results - 03/04/08
The YM erased the late gains from Monday by gapping lower and then proceeding to
make a new 41-day low on trend level A-D. There wasn't any news out driving things
and it was free to make an attempt to break out of the consolidation. It found some
cushion around the weekly crunchy at 12,109 and then later at the lows on the daily
crunchy of 12,030. It never made it lower than that and firmed up in the period leading
into the closing hour where it squeezed really well again into the close. I like it when
it closes that way because it usually has some carry over to the next day.
I had more trades than normal today with it pretty much being a shopping spree for
the majority of the day. All of my trades were shorts on the 12-second chart except the
last one which was the first long after the squeeze took out all of the late morning
and afternoon swings on the 5-minute charts. It too was entered on the 12-second
chart.
The first trade was the first sell on the 1x after the 25x had pulled back to its MC area.
The LL it made alerted to a quick entry opportunity. It required a higher stop than
normal because the entry was below the KC. The next two trades were each part of
the same series, which again was the normal first signal on the 1x after the 25x
pullback. The difference was I went with the second trade in the series and it hit my
stop. I was going with the A-D as my guide on that. The stop led to another 25x
pullback and subsequent trade but the DZ had started by then. The fourth trade was
the first signal I was able to take after the DZ and it was a 1x first signal after a 25x
pullback.
I feel a lot better today than yesterday so I am hopeful that this weird illness is leaving
me now. I am trading through Thursday this week and this has been a decent start. I
look forward to working with you folks in the room this week. After last weeks vacation
it feels like I have been gone a while. I am happy to see a lot of you calming down
and stalking trades with discipline. Keep it up! The new training videos will be out by
the end of this month and links will be provided at that time. It looks like it will be
pretty cool. Thanks again to those who provided technical assistance.
(Here is the prior Post).
Results: 5 Trades Date: 03/04/2008 Gross Points This Week: 47 YM
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10:28
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S
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12165
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10:39
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12145
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+20.0-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 DOWN so I will be looking short initially and will be using
the 89-sma and A-D for trend direction.
The Declining Volume Ratio came in at 70%, which often leads to some follow
through. The PTB also agrees. I don't know how that will play out but for the open I
will look to see if it can sustain some of that late strength. The Net Volume trend
has been showing some strength and we are still in this wider consolidation so a
move off the daily and weekly crunchy like we had yesterday may be the kind of
trigger to give us a push to test the other end of the consolidation now.
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.
Have a great week! See you in the trading room. May God Bless you ~
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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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