Change of Behavior Trade Some of the best trades occur after the market exhibits a change of behavior. We aren't looking to buy the low tick or sell the high one -- that's a fool's game. No, we don't want to be making random traders where we "think" the market will turn. That's bad trading. I am sure many would be traders are now surveying their losses from the morning, … [Read more...]
An Afternoon Trade
An Afternoon Trade Here’s an afternoon trade in the S&Ps (ES) that set up wonderfully today. This is a common pattern we see on trend days. Trend days open at one extreme and close at the other. Today opened on its highs and closed near its lows. Trend days provide excellent trading At times, though, trend days that start in the overnight market seem to die out in … [Read more...]
Swing Trade
Swing Trade Here is a swing trade that had been setting up for the past few weeks. We discussed this in last Thursday night’s Deep Practice. Each week, we look at what we are anticipating for the coming week. As I noted in an earlier post this week, the weekly chart closed flat. Given the other considerations seen in the background, we were … [Read more...]
A Short Study of Volume
A Short Study of Volume Here is a short study of volume in this morning’s S&P futures (ES, e-Mini). We are using the Weis Wave, which aggregates wave volume, and the 3,000 Tick chart, which shows overnight waves well. A: Supply into yesterday’s low, no question about it. B: We break yesterday’s low and selling isn’t strong. Hmmmm …. C: A push down, but all … [Read more...]
Anatomy of a Day Trade
Anatomy of a Day Trade Here is a trade taken this morning (Friday, June 15th). We’ll see how this set up, was traded and it’s outcome. Last night in my weekly Deep Practice program, I cautioned members that the weekly chart was looking weak. The narrow range of the past four days didn’t inspire bullish confidence. We discussed the weekly and noted that were the … [Read more...]
