AndrewS

If you look at the chart I posted, you will see 2 price alarms on the Dow for a 200 point range which it has traded during the European session.

50 day MA.

I have disclosed the way I trade many times. One of the things I refrain from doing is making off topic comments like your last post.

I don’t have a problem with what you wrote, but it is off at a tangent to what I wrote and do.

When there is high velocity a 1 min chart can have more consistency than the price levels I look at in that price can go through those levels like a hot knife through butter.

Forgot to check the 1 min chart when there was a high velocity move and so added it to my trade management rules.

The penny drops.

The Nasdaq’s ballistic move up in recent weeks may have come to an end (not that I trade it).

Just a clearer chart.

Another yearly pivot in sight with the S&P500 at its weekly R3.

Given the price of the book on Amazon, here is the ‘Holy Grail’ of pirated books. http://en.bookfi.net/s/?q=Linda+Raschke&t=0

Although there are a lot of statistics at the end of the book the authors state that their set-ups are discretionary. Interestingly the only “indicator” Al Brooks uses is a 20 period moving average. I have forward tested something similar to the ‘holy grail’ a lot.

My routine includes playing a game of FreeCell to see if I have my wits about me and there is something useful in approaching the game by only moving a card when you are confident that it is an improvement. I usually have favored indices for going long or short and set price alarms as a visual reminder of an assessment at the beginning of the session. This week most of my time has been spent reading a book and only glancing at the charts every 15 min. https://www.free-freecell-solitaire.com/

Missed it.

I don't know. But there is good profit taking.

It has been following the European indices higher, but with a 400 point rise after its close I think some buyers may be setting themselves up for a disappointment.

Most breakouts of a range fail, most reversals of a trend fail.

If folks did a staggered entry and exit with amounts they are comfortable with they would be dancing to the Hokey Pokey instead. Everybody form a circle Put your left foot in Your left foot out Your left foot in And shake it all about You do the hokey pokey And turn yourself around Now put your right foot in Your right foot out Right foot in Then you shake it all about And then you do the hokey pokey Turn yourself around That's what it's all about

I was awake at the time because I had an appointment, but I didn’t have any comment to make about it. It was just a small move down by the European indices unsupported elsewhere. Often during those hours there is a contraction in volatility, but occasionally there is an easy low risk entry. The Dax made its high for the week at that time last week.

The point Rayner was making is if you only have a five point target and your win rate is not very high it is probably not a viable strategy.

It’s horses for courses. If my primary focus were American trading hours I might trade the S&P500 or if the focus were Asian trading hours I might trade the Hang Seng. But I like to be able to have a swing trade with a scaled entry and exit around the clock.

I just realized that the correlation tables I use are not responsive enough. The coder had 90 minutes, 90 5 minutes and so forth, but I have changed it to 20 periods. This is what it looks like now with the S&P500 and Dow in sync and the Dow and Nasdaq being birds of no feather for the last 20 four hours and 20 days.

Price alarm woke me up for the last scale out.

Shaken out to a "don't care" amount.

But wait, there is more.