NQ DT 01/25/10

black

let's share some DT ideas here. NQ walks much clearer than ES these days so i'm going to use NQ here.
i look price action for trade on 5min chart and 20 EMA is my only indicator.

today:
1. range bound for the first hour with a lot of dojis, possible range day ahead. look to fade at extremes.
2. breakout upside, caution fake breakout because range bound.
3. Low 2 short, second entry (2 is the first entry) to short the fake breakout. the second time market want to go up but failed. stop sell entry triggered one tick below the previous bar (lower low), stop loss (SL) at one tick above 3's high.  this is today's most reliable trade.
4. this is a good long setup but failed. everything fails. it was a bounce of EMA, a bounce of trendline, and a High 2 variation setup. it wast stopped out at bar 5.
5. this is a second short entry to fade today's high, now you start to doubt bar long. but this short it's only a scalp because it's still in above the trendline started 11:30am.
6. classic reversal, trendline break then two-legged pullback to test the extreme. short triggered one tick below the previous bar. stop at previous bar's high then move the 6's high after it closed.

closed all before market close. no good entries in mid-day, so patient is important.

yaobooyao

Nice trade charts.

To me, I don't think 4 could be a possible long entry, it faces the pressure of today's highs at 2 & 3,  the resistance is too close.  I'd rather see a breakout upside of today's high & retested before thinking of going long.  On the contrary, a breakdown the trendline at 5 is much better play.

Cobra

Very good, thanks. Please keep doing this if possible. Am I asking too much?

kyshuishou

谢谢分享，如果可能的话盘后多给俺们小青蛙分析一下DT的机会吧，今天做spy被抽晕了

black

Very good, thanks. Please keep doing this if possible. Am I asking too much?
Cobra 发表于 2010-1-25 17:16

that's the idea, try my best, i think this helps me too

abaqus

Very good chart DT. I missed morning trade due to meeting. Kicked in a long trade near your #4 on SPY, stopped out below the trend line, then add some short for swing. Thanks again!

black

Nice trade charts.

To me, I don't think 4 could be a possible long entry, it faces the pressure of today's highs at 2 & 3,  the resistance is too close.  I'd rather see a breakout upside of today's ...
yaobooyao 发表于 2010-1-25 17:01

en, maybe it looks too tempting.

black

谢谢分享，如果可能的话盘后多给俺们小青蛙分析一下DT的机会吧，今天做spy被抽晕了
kyshuishou 发表于 2010-1-25 17:17

i'm a frog too, let's discuss.

yaobooyao

Very good, thanks. Please keep doing this if possible. Am I asking too much?
Cobra 发表于 2010-1-25 17:16

Nice to have some real DT discussion with DTers.

Fastest way to learn.

Great.

Cobra

that's the idea, try my best, i think this helps me too
black 发表于 2010-1-25 17:21

Thanks again. And yes, I think if you keep going on, that'll sure help you a lot.

ts9

Please also comment on your exit point. Thanks!

90ufo

thanks! 学习ing...

darren168

Thanks

slcgh

goood , thank for share!!!

coexist

nice

Ave

I am reading the book "reading price charts bar by bar" by Al Brooks. There are a lot of trading examples as what Black described here, highly recommended. My understanding is that you read the bars to reveal what happens in the bars. It's equivalent to reading the charts in different time frame. Down to the trading, still just basic traditional TA patterns. For example, the ii and iii setups are just flags (or triangles) if you look the finer time frames...

yanjun

bryanlie

abbozzo

abracadabra