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Trading Day Prep Work
Dow mini trading results - 12/04/2009
The market opened higher today and almost immediately tested the 10,500 area
again before running out of steam and tipping over to go test yesterday's lows. Those
lows gave way to lower lows but again the market ran out of steam there and we just
drifted back up inside the range and stayed there the rest of the day.
I had two trades today and they were the two most common signal types. The first
trade was the first long off the 25x MC. It moved well and had plenty of room to the
target area. The second trade was after the market stalled and started moving down
when it broke below the 10,403 crunchy and formed the first signal. It had a lot more
meat on it and given the intensity of the initial impulse I probably should have stayed
with it more but I just went for the standard scalp trade.
Things will start to wind down for the year here soon in terms of volume so lets take
good advantage of the trading room during this month before Christmas to work out
any issues some of you may be having with your trading so you can get off to a good
start in 2010. I am proud of those of you who have made such significant strides in
your trading this year. Be sure to still ask for help when you need and take advantage
of all the resources available to you in that regard. I will start to wind down my trading
over the next week or two more and more as the volume declines so I will have more
time to work with people one-on-one as needed so just ask.
(Here is the prior Post).
Results: 2 Trades Date: 12/04/2009 Gross Points This Week: 75 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 FLAT so I will be taking it slow and see how things act
around the opening edges. We are in a what looks like a daily consolidation with an
upward lean so I will look to play both ways but will start to look for upward
impulses as we near that lower channel on the daily chart.
The Volume ratio came in fairly neutral which confirms the PTB and what we saw
today. It was a pretty good rejection of 10,500 so we may see some further follow
through to the down side for a couple days or more if it doesn't firm up pretty quick.
We have gone a long time since any significant deeper pullbacks on the daily so if
we start leaning that way we should start to find our where-to areas below. It looks
like 9,992 crunchy makes sense if we do ever get that lean on the daily chart. We
have a lot of crunchies in this daily consolidation area so the trading windows may
be tight at times. Be sure to use your patience and wait on moving markets.
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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