Reaver's Incursion

[Reaver]

Good point Tin...

By the way, during the day I hit up futuresource.com to get prices for free....it's delayed but good to keep an eye on....

[chainsawtrader]

	Quote:	brownsfan019
	Welcome to the forum saw. While you seem to really like what Reaver has presented here, feel free to do the same. As you'll see in your time here, TL is a community of giving and receiving. You should start a thread and introduce yourself to the forum and tell us about your trading. What are you hoping to gain and provide the forum? Once again, welcome to our little forum my friend.

I'm not a trader yet. I'm in graduate school working on a PhD. in finance. Some of the theories mentioned in this forum may be helpful in my studies and research. Be assured if I use any of the ideas here in my dissertation, credit will be given to the author accordingly.

[Reaver]

So far no trades catch my eye....still watching wheat, but now, looks like a false breakout to the downside....reversion to the 5 day balance on decreasing volume...volatility just shit the bed too. Oh well, will keep an eye open and see what happens......

[walterw]

Hi Reaver, dont want to hijack your thread here... wanted to share with you a false break I just traded



used some new vma stuff plus cci...

now remember it is a risky setup, but when it works is worth the ride... cheers Walter.

[Reaver]

Walter, thanks man good example of what we were talking about a couple threads back. That's actually what I am still looking for out of wheat, as we discussed earlier. Thanks for the post bud.

P.S. You're not hijacking my thread when you post stuff! Keep it coming, it is good for me to see from different perspectives. Have a good one Chimp.

[walterw]

Glad to hear that Reaver... sometimes I dont know if I am puting my nose where I shouldnt...

here is a false break I just scalped, it was good for 5 pips..




now you have to understand that on momentum conditions this is too risky thing to do... if you sense market is weak... (cycle conditions) then this false breaks work pretty good... cheers Walter.

[TinGull]

Walter...that failed breakdown/breakout I wouldn't classify as high risk...I think it's a real low risk setup. You've got a nice area for a stop placement and when people see a failed pattern, those who got short are gonna have to cover and fuel a rally (in that particular trade's case). That's one of my most favorite setups to play.

[walterw]

	Quote:	TinGull
	Walter...that failed breakdown/breakout I wouldn't classify as high risk...I think it's a real low risk setup. You've got a nice area for a stop placement and when people see a failed pattern, those who got short are gonna have to cover and fuel a rally (in that particular trade's case). That's one of my most favorite setups to play.

So we Bake Bread and trade False breaks ¡¡ arent you a chimp man ?

[Reaver]

Okay, looks like wheat dropped to 8184, well below the breakout point...one more major support level at about 8131 (approximate, nothing here is an exact science), and if that is breached....looks like a long drop may come around....but I am not in the business of predicting the future lol...I am just curious to see how a CT trade would have worked....wheat has tested the bracket two days in a row and made a solid break through support...so we'll see.

[TinGull]

	Quote:	walterw
	So we Bake Bread and trade False breaks ¡¡ arent you a chimp man ?

You do bring up a good point.........