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Thank you K man for your kind words
I would not want to be short going into Friday crooks day as GOOG reports tonight after the close
an could surprise to the upside
Pleasure Marko, well done for banking when you did. Sure you could have banked more but if you had run, look where it is now.
Anyway it now in my area of 1515/17 to short today, but it still remains in TREND UP for me. This target area saved me from shorting too early having closed shorts 10 points lower this morning.
It is indeed a game of PLANNING and PATIENCE.
Hoggy … You did damn well picking GBP to short yesterday. Really well done for it and todays move up is exactly why I am not bearish cable.
Plan your trade, trade your plan!
spoos banging up against the top of the wedge now,needs to react down soon
or its getting invalidated.
Houd it would be a low risk short with a tight stop…not for me tho. rather see how it reacts. I am sure its worth 3 points K style 🙂
done the 3 now gekko,not in great style though.if the pattern holds it could grind up the line all the way into monday at the latest case,would need to see some red tomorrow though really.
You were indeed spot on Houdy
1724.75 hits (vs my 1723/5 next short area). I am still on hold to short further.
The problem is SU days usually remain SU all day with a burst into close. SU level is currently 1720. So I want to try a short here at 1724.25 on the secondary move up just as a test if SU level. 3 point limits in.
Missed my 3 point limits by the dreaded 0.25 curse! aaarrrggghhh You know its a total mustard market when that happens. I could take 1722.75 here for 1.50 points but am just going to try and run for a little longer as crookshour is still more than 1 hour away
Limits hit to close for 3 points at 1721.25. Worth the patience as it was a planned trade for 1723/5 area.
Plan your trade, trade your plan!
Back in now, password problem sorted.
Well we got the re-visit to the September high as expected. If it breaks up through then
1745.00-1750.00 is on the cards. It looks to be forming a bull flag for another go at breaking through.
It closed what would seem decisively above the September high. That suggests at least another 15 handles up before any significant downside. Don’t understand why everybody on here is trying to short this when the trend is strongly up. I’ve been long on and off for the past week, never even considered shorting. Just look at those impulsive up candles on the daily, shorting right now is madness. Ok it’s possible to grab 3 or 4 handles on a counter trend trade but why fight the trend?? Far far easier (and less nerve racking) to make money longing the dips with much greater gains than 3 or 4 handles.
shorting right now is madness. Ok it’s possible to grab 3 or 4 handles on a counter trend trade but why fight the trend?? Far far easier (and less nerve racking) to make money longing the dips with much greater gains than 3 or 4 handles.
I guess it’s about individual trading styles, for me, I wanted to short this a couple of days ago on the Wednesday night close, I didn’t basis couldn’t support it technically, just so happen a Dow/s&p short that night would have yielded 10/100 points, anyone long on wed night may have been wondering why they had just bought a market high, though it then recovered on the day.
I didn’t have the nerve to short it as I couldn’t see a technical reason, so decided to hold off expecting at least panther 10/100 higher and that has happened now, so I’m happy to start building into a position, generally I run positions a lot longer these days.
We all know what it takes to build the market up it generally knocks back down at 2-3 times the speed it builds it up. For me I’m much more happy buildings a short position at current market year high levels than a long position, yes granted the trend is your friend, but key resistance and retracement percentages are important too (Dow,Dow transport index, vix levels etc.
that said, the day I call a very top or bottom is they day i’ll retire 🙂
Couldnt agree more paps, I have been long and been buying most dips for the last week or so.
I might start banking some of my longs from today or put a trailing stop. But as Ark says its down to trading styles I suppose to take the 3/4 points u mention u have to be nimble and sat at the pc for most of the day which is all good for full time traders and thats there bread and butter.
Fighting a strong impulsive trend to scalp a 3 or 4 handles rather than go with the trend and make more handles with less stress = “trading style”. Well ok, whatever.
Ark, you select the one occasion in the last 7 trading days when a decent amount could be made on the short side to make your case, but you ignore all the long trades which there were significantly more of and would have yielded greater profits.
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