Patience pays off got the short position about 45 minutes after the London open and rode it down to the Pivot. These fairly new indicators are pretty go and both gave a good heads up and the TEMA keep me in the trade right to the bottom. I like this little indicator for helping to stay with a trade longer to maximize the take. Kudos to you Kirk and John. FW's measured market guage MMG is quite solid also though I still use my other trusty lights. I had actually 4 good sell triggers on this last night. I actually hit the "Reverse" button
on my platform when the price touched the 150 SMA and rode back up until I got the MMG rollover and the other two sell triggers at 10AM EDT. As I type this the ES has rolled over quite good and broke the pivot but I missed the entry as I am through for the day. Very hard to watch and not jump in but I will stick to the plan from last night to be out by 10 unless in trouble.
I was just telling PT over on his blog that is looks like a possible FNH on the daily chart here. First once since the February rally started (?).
ReplyDeleteIf we don't bounce off the 20d sma line in the next couple days we may have a sell off here.
I considered that short trade last night too, coming off 1209 as the sma lines were starting to angle down toward the 200 line on the 5-min chart, and we got a little ahead of things on the daily chart. R1 and R2 lines/magnet effect had me concerned though so I didn't pull the trigger.
Yea I have been going ahead and taking some trades against the trend last couple days. They all have paid off. I mentioned the one I got stuck in for almost two days ... in the end I got out with profit but by being stuck in the trade I missed a couple of nice moves so even though the trade shows a profit I actually lost by being stuck, if you know what I mean.
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