Reaver's Incursion

[Reaver]

Here is a chart for my previous post.

[TinGull]

Nice. With "drunken rallies" I never can go against the trend. I'd rather wait for the pullback to pull through and buy a ticket on that gravy train.

[Reaver]

Drunken rallies, isn't that Jackie Chan movie? LOL

Yeah I agree with you there...I have major issues trading against the trend...traumatic experiences with the counter-trend boogieman when I was younger. LOL

I really what I think I will look for is a rejection of the lower end ...and get ready to for a long breakout....

I'll watch and see.....will post more as knowledge becomes available...

[walterw]

Hi Reaver, it is certainly risky to play against this strong trends, but eventually it will exhaust...

My view of a posible "less risk" entry in terms of a countertrend would be playing the "false break trade"... would give you tighter stops and best spot for entries...




thats my two cents on counter here... nice job man ¡¡ keep it up ¡¡ cheers The Chimp.

[Reaver]

Walter,

Thanks that's a really good idea. I am going to put that into my notebook of possible solutions to situations...

I'll watch for that and see how it would have played out...especially at the end of the day to see what direction the reference points are hinting at....

That does look like a good stage 3 to me so far.....

[walterw]

For more info on that trade you can check this thread http://www.traderslaboratory.com/for...rade-1994.html it is on intraday, but it can perfectly be applied to daily as well... cheer The Chimp.

[TinGull]

Just to box in what Walter said....



Good phase 3 forming on it.

[Reaver]

Awesome info! Thanks for the comments Tin and Walter. Really helps open my eyes to other possibilities...which is one of the main purposes of this thread in the first place. Good stuff....much appreciated.

[Reaver]

Looks like price broke through the lower bracket I was waiting for....I will re-evaluate my viewpoint tonight. Good learning experience for me....


Walter and Tin may have just picked a top!

This is why I need to be able to be at home...so I can take advantage and stay on top of smaller moves like this, etc instead of having to place trade positions mostly at the end of the day...not being able to watch intently enough can really limit agility and trading results....

But hey if I can still make it being handicapped in my trading due to my day job...then once I am able to pay even more attention...that in theory will help...but then again, maybe my having this type of distance from the market is what helps...

aahhh, one day soon...

[TinGull]

I dont have access to futures data anymore, so I don't know what price did. If you want to place a short, watch for the next bear flag to form and short a lower high in the flag channel