Buy signal on the 5m
Buy The Gap
Started by
TechMan
, Aug 18 2011 08:26 AM
42 replies to this topic
#22
opinionated
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Posted 18 August 2011 - 09:54 AM
Trying to build a base on the 5m its make or break right here for my 1155 number. Stop 1135 /es
Building a base on a 5 minute chart with 90 stocks up on the NYSE is a tough road to hoe.
IT
Daytrading Sir, will reshort at 1151.50 /es
#23
TechMan
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Posted 18 August 2011 - 09:54 AM
Firstly 1163 was not a target, but a price print along the way. Neither was 1153 a beginning of a reversal. It was another price print along the way.
BTW, what made you change your plans of buying the gap ?
1163 was opinionated's target that he had stated a few times.
At 1153, some of the risky assets started to reverse, but that got reversed faster than I could write and post that comment. Those were the "signs" I was looking at.
There were pretty prominent positive divergences in the closing data in both the AH and the RTH sessions yesterday. And, despite the bearish price action over the past 2 days, some of the risk on/off switches like AUD/CHF cross had shown widening gap of positive divergence.
At 1138, almost all the risk switche were off except for the Treasury yields. That's when the 10-year started reversing and climbing above 2000, which appeared to have calmed the market.
#24
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Posted 18 August 2011 - 10:29 AM
5Min on a buy, 10 getting ready for a buy... Im surprised the 5M buy did not yield more but (IF) the 10Min buy go's more than two ticks without a buy I'm out of longs
#25
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Posted 18 August 2011 - 10:42 AM
Word on the floor is 1147 /es for up move or reversal
FWIW
#26
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Posted 18 August 2011 - 10:44 AM
Buy on the 10Min
#27
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Posted 18 August 2011 - 11:09 AM
Moved stop to 37 /es
#28
TechMan
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Posted 18 August 2011 - 11:13 AM
Moved stop to 37 /es
You're putting on a day trading clinic today.
#29
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Posted 18 August 2011 - 11:15 AM
Yes, and feeling stupid to be honest... Will stop posting when I exit my longs... looking like 1155 /es now... but (IF) we get a buy on the 30m we could launch towards 1168
#30
TechMan
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Posted 18 August 2011 - 11:21 AM
Yes, and feeling stupid to be honest... Will stop posting when I exit my longs... looking like 1155 /es now... but (IF) we get a buy on the 30m we could launch towards 1168
Don't be. You're doing just fine.
I'm looking for the Swiss Franc and the Yen to break down. If and when that happened, then it could reclaim 1180-1190.
