Tuesday, April 27, 2010

4/27 (+58) Big drop in markets / still much work to do

A picture says a thousand words, so I will leave it to these:





Be patient, wait for your A+ setup, even if you see ticks and ticks strolling by, wait, and then make the market pay by giving your trade room to 'blossom'.

As I write this, CL has 272K vol, and continues to make new lows 82.27, and ES is at 1188.

11:55 Update:

Listening to GS grilling, watching charts, this one called for me. Took one more.

Why?

Triple bottom on 6R, got a signal around .35 the first time around, and then came back to that point, and moved just beyond the chop box formed there. Also DOM was showing buying in this area to me.

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