6 replies to this topic

[NAV]

At ES 1440. Dynamic support for today is at ES 1439. A break below ES 1435 on a hourly closing basis will break the back of the hourly trend, which would mean the breakout was a fakeout. If and when that happens i will attempt a short. Until then buying dips at dynamic supports and liquidating at reistances will be much easier. JMO

Edited by NAV, 25 January 2007 - 11:51 AM.

[A-ha]

rule of thumb for trend trading: When it is up against a multi-year top line, hourly or even daily breakouts are destined to fail. "Longer time frames always dominate."

[NAV]

rule of thumb for trend trading:

When it is up against a multi-year top line, hourly or even daily breakouts are destined to fail.
"Longer time frames always dominate."

You gotta milk the timeframe you are trading !. An hourly trader cannot be bothered about monthly charts. It's impossible for a failure to not get noticed on the hourly charts before it spirals into the higher order timeframes. But yes, i agree, the higher order timeframes dominate the lower timeframes. I have said that myself many times here before.

Edited by NAV, 25 January 2007 - 12:07 PM.

[IndexTrader]

In my opinion a legitimate breakout would not be pulling back this deeply the day after the breakout. Further, there's the NDX "problem". IT

[eminimee]

I've gone unhedged at 38.50.....15 min sell. . . but since I could go long again at any time I won't bother posting ...it's a pain.

...plus I like my favorite chart....if that H&S on rsi is for real.......

http://stockcharts.com/c-sc/sc?s=$SPX&p=W&st=1999-01-01&i=p14175576400&a=57601821&r=6581.png

Edited by Teaparty, 25 January 2007 - 12:17 PM.

[NAV]

rule of thumb for trend trading:

When it is up against a multi-year top line, hourly or even daily breakouts are destined to fail.
"Longer time frames always dominate."

XD,

You keep talking about this multiyear chart. I haven't seen one from you to date. Could you post a chart so that we can all appreciate what you are seeing. If you don't want the world to see it, you can PM me. thanks.

[A-ha]

http://xtrends.blogs...ket-update.html