[Gabe2004]

Any reason you're using a 3 minute chart? Did you mark up a chart for yesterday?

I am using the 3min chart because Iget killed by the retracements that happen in the 5 min after my entry.
Trueth be told, I am using tighter stops than Al is recommending)

Originally Posted by forrestang »

Yesterday....Don't pay attention to anything after 11:20 as this is where i rolled contracts and merged data so it is skewed.



Any reason you're using a 3 minute chart? Did you mark up a chart for yesterday?

I am using the 3min chart because Iget killed by the retracements that happen in the 5 min after my entry.
Trueth be told, I am using tighter stops than Al is recommending)

btw, I've been printing out a black and white chart of the NQ and ES after market everyday and marking it up. It is probably something that is going to be helpful? The ES go over is kind of redundant as i stared at it all day, the NQ is usually similiar but different enough to still gains some perspective usually.

And this book is taking forever to get here, ordered a week ago, and didn't leave amazon till the 10th, wtf?

[ACS]

Originally Posted by forrestang »

And this book is taking forever to get here, ordered a week ago, and didn't leave amazon till the 10th, wtf?

If you go to the Wiley website you can get a headstart by downloading chapter 1 to read while you wait for the book to arrive.

[ACS]

Did the ES just complete a two legged break of the bear trendline from yesterday and do we now look for a test of the extreme near today's low?

[Gabe2004]

I have a question which is marked in the chart.
Thanks for any replies.

[ACS]

Originally Posted by Gabe2004 »

I have a question which is marked in the chart.
Thanks for any replies.

I'm new at this but I'll give you my thinking. The bw and the fact that the signal bar was a bull trend bar would be enough to keep me out. Also, until the channel is broken you should assume it is still controlling the market and after hitting the bottom of the channel in a two legged move just before, the expectation would be an attempt to go to the top.

[albrooks]

you could short the L2 but it followed an outside up bar and i prefer to wait for 2 legs AFTER the surge up from that bar ended (it ended on the next bar). also, BW = I prefer to wait until someone is clearly trapped, and when the BW is below the EMA (here it is AT the EMA rather than below; is anything, it is slightly above but this is now a bear trend), the odds are that it will break to the downside so i prefer to wait to see if some bulls get trapped, and they did, on the failed H2 above the EMA. remember, the mkt broke a TL and a TCL and reversed, and formed a LH. this move up was a second attempt to reverse the new bear and it formed a DT bear flag. the mkt was now in a bear trend until it proves otherwise so i was focusing on opportunities for swings on the short side.

[thetatrader]

Al, Thanks for the book and all the I trade shows. Its great to see your posts in here. I think it will help a lot of us out.

[trader5]

Originally Posted by albrooks »

the move to 930 was a two legged sideways move that had 2 smaller 2 legged moves in it. as the move traveled sideways, it broke the trendline from yesterday and this move became a large possible Final Flag, so I was looking for reasons for the trend to turn down. The false BO of the top of the channel was perfect and the trend was then down from there unless something else developed, which it did not.


tcl trend channel line
bw barb wire
dt double top (bear flag)...the Lower High was in the form of a Double Top Bear Flag

Is the tcl following the final flag also a 3rd push up? I have marked what I see as 3 possible legs up in the attachment.