mini Nasdaq 100 June 9AM


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mini Nasdaq 100 June 9AM

Posted By: drmarty
Date: Wednesday, 7 May 2008, at 9:58 p.m.

Yawn. Getting up to go to the bathroom and thought I would turn on the computer. A REVERSAL BAR on the 30 minute chart. That means, for me, a close to this time frame bar, at the bottom of the bar and it signals lower prices ahead. I didn't get to go short at the start of the next bar, but the bar after that I was monitoring and went short at 2000 even. It wasn't the best price of the morning and it wasn't the worst. I was sitting short at the 10 oclock bar just in time to catch the decline of 10 full points (that's 1,000 ticks) in the next 30 minute bar. That was just luck, I thought.
There was a reversal signal and an exit signal (same) at 1962 and there was about an hour to exit....at 1965 by 3PM. A PHENOMENAL illustration of what a reversal bar strategy can do...IT ISN'T ALWAYS THIS PROFITABLE. When it is good, like the proverbial little girl, she is very, very good.
Total down points for the NASDAQ 100 was 38.50....and the reversal bar caught 35.00 of that. UNUSUALLY good...I wish it on y'all.
Hypothetical or not...the reversal bar I point out is THE FIRST OF THE DAY....a scared trader could have exited at a half dozen different places....like 1990, but the one I point out starts a move away from the deep channel...and violates the trendline. Slippage therefore could have been considerable, as real-time traders KNOW. NEVERTHELESS, the illustration is for the purpose of education...see a few of these and you will begin to recognize them EASILY.
Marty

manuals at discount prices

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Messages In This Thread

mini Nasdaq 100 June 9AM (views:53)
drmarty -- Wednesday, 7 May 2008, at 9:58 p.m.
- Re: mini Nasdaq 100 June 9AM (views:59)
  drmarty -- Thursday, 8 May 2008, at 4:00 a.m.

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