June 24, 2009
Market bounced up again, but, NO TRADE TODAY
5 min Emini Nasdaq 100
Hi,
Price gapped up and continued on it's upward trajectory, but signals from stochastics and short-term MACD are not enough for me to enter the market.
Candlestick bodies are short and price remained tightly ranged... No trade today.
Author Michael Taylor : 5:49 PM | comments (0) | trackbacks (0)
June 23, 2009
Existing home sales weigh on market -> Price continued downward trajectory
5 min Emini Nasdaq 100
Hi,
If you noticed, price is still on a downward trajectory, when will this stop? I don't know, but does this automatically mean that we should go short? No!
Look at the price action today.. candlesticks are highly erractic and there are no clear signals from stochastics or short-term MACD.
Fundamentals.
The May Existing Home Sales report was the day's headlining news item, though it failed to produce a sustainable move in stock prices. Annualized existing home sales for May hit 4.77 million units, which is the highest rate since October, and up 2.4% from the previous month. However, expectations were set on a 3.0% month-over-month increase.
Author Michael Taylor : 8:56 PM | comments (0) | trackbacks (0)
June 22, 2009
Price gapped down and went all the way down, BUT -> NO TRADE TODAY. WHY?
5 min Emini Nasdaq 100
Hi,
How is it going lately? Market is finally going down which it should. I have said that it is impossible for the market to keep on going up in a straight line...
Price gapped down and continued on its downward trajectory without any signals from stochastics or short-term MACD. There was no chance for us to go short...
NO TRADE TODAY.
Author Michael Taylor : 5:12 PM | comments (0) | trackbacks (0)
June 19, 2009
Flat moving averages, Gap up but did not close.
5 min Emini Nasdaq 100
Hi,
How is it going lately? We are seeing a period of short bodied candlesticks again... Moving averages are flat and Bollinger Bands are narrow...
Do you think this is a good trading environment? I wouldn't risk it...Don't be fooled by the signals from the stochastics. No Trade today.
Author Michael Taylor : 5:35 PM | comments (0) | trackbacks (0)
June 18, 2009
Flat moving averages, erractic price action -> no trade today.
5 min Emini Nasdaq 100
Moving averages are almost a flat horizontal.. Price hovers up and down from the moving averages.... However, if you ignore this fact, stochastics exhibited alot of signals,
If you traded on these signals without taking into account the flat moving averages, you will be taking too much risk.
Author Michael Taylor : 5:47 PM | comments (0) | trackbacks (0)
June 17, 2009
Double Bottom, stochastics Up, MACD up --> $340 profits
5 min Emini Nasdaq 100
Hi,
The trade today is not so obvious, but if you look carefully, you will know that this is a chance.
Firstly, price formed a double bottom this is coupled with stochastics which cut up the signal line... We can see the short-term MACD also cut up the signal line.
Although price is below the moving averages, this gave me enough signal to go long at 1443 and I only exited at 1460 when short-term MACD cut back down..
profits of $340.
Author Michael Taylor : 5:50 PM | comments (0) | trackbacks (0)
June 16, 2009
Start of downtrend? Stochastics down, MACD down --> $620 profits
5 min Emini Nasdaq 100
Hi,
How is it going? Price is emarking on a downward trajectory again... As we have discussed before it cannot simply keep on going up in a straight line...
Price broke through my moving averages coupled with stochastics cutting down the signal line, I shorted 1 contract at 1463 and another 2 more contracts at 1459...
I only exited at 1450 where stochastics cut back up form the oversold region. Profits of $620.
Author Michael Taylor : 5:50 PM | comments (0) | trackbacks (0)