Kamis, 25 Agustus 2011

Ten Point Buck Tweet

Yesterday's ES was a tick or 2 away from making a neutral day. Either way, as a neutral day or near the lows, it had to hold against the VAH of yesterday and go back towards the middle of today's range. This was a VERY high probability trade, otherwise I wouldn't have tweeted it.  I tweeted it just because it was there and I thought that watching the bounce in real time might be more convincing to traders than a chart. Time stamps are London times.



Well, there were 10 points plus in the trade. All I had to do was hold the trade until it stopped going back up. This trade works so well because by the time price is down at the lows, there are lots of people short and caught and the short covering and reversals take the market back at least into the middle of the range, usually, because nothing is 100%.

Today's chart gives a slightly different point of view. Some traders benefit from even less noise and the chart below is the same range bar but only showing the closes. It gives a very clear view, although the candle info is not there. As you can see, my filters kept me out of trouble.


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