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Old

Tried a short

Posted 07-28-2009 at 10:07 AM by That One Guy
Updated 07-28-2009 at 10:51 AM by That One Guy

As stated earlier, I zoomed in to find some short term areas to play. I saw rotation from 1597-1600, so I waited for a pull back and a trigger to short. However, stopped out on news shakeout for 2.5 points. Oh well, I would be looking to BE now at this 1590 area, but the lower high at 1600 area makes me question bulls. Past 1590 full rotation down to 1575 possible in play
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Old

First off....

Posted 07-28-2009 at 09:00 AM by That One Guy
Updated 07-28-2009 at 10:51 AM by That One Guy

Here is what I see on the bigger time frame (NQ).



This area is like an upside objective. Bulls longing before/after the breakout, would have easily seen this. Knowing all that, the current balance area shouldn't come to a surprise.

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Attached Images
File Type: jpg Nqdaily.JPG (88.6 KB, 108 views)
File Type: jpg NQ 09-09 7_28_2009 (20 Range).jpg (80.9 KB, 147 views)
File Type: jpg sunday.JPG (37.0 KB, 73 views)
File Type: jpg NQ 09-09 7_24_2009 (4 Range).jpg (100.9 KB, 100 views)
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Old

Starting the blog

Posted 07-27-2009 at 01:43 PM by That One Guy

Some of the traders in the chat, suggest I start a journal. This will be an attempt at that.
Currently my style of trading revolves around area of balance in the market. When markets are in balance, I look to play the extremes and when out of balance I look to play the pull backs to the previous balance. In this blog/journal, I will try to outline the balance areas and trades ideas around them.
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