Twitter Updates for 2010-07-28
- ES short exit triggered @ Stoch reversal, +4.25 (keltner +3) #
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ES short exit triggered @ Stoch reversal, +4.25 (keltner +3)
Note how the stochastic reversal occurred at Fib 1.382 ~1.618 zone, which is always a good target for the second push (third wave).
Pre-market, wait for volume to confirm.
Traveling
Quick note, I’m on my way to Asia, so i wont be making posts for Thursday or Friday. Should be making them next week, but off and on because of the hours…
Pre-market short exit at Keltner +1.75 with Fibonacci extension
This trade triggered just after 8:30am, which is the earliest that I will take a pre-market trade because the volume is reasonably strong during the one hour before market open. After taking profits at the Keltner band, if you kept half of your contracts and placed a break-even stop on that remaining half, you could exit the second half at a full cycle of the slow stochastics, i.e. when the slow (white) stochastic is below the 20 band and the two fast ones (%K and %D) are both below the 20 band and cross up. In a fast drop such as this one, it might make sense to use Fibonacci to give yourself a clear target for a limit buy exit. This can save you several points compared to waiting for the stochastic to turn.
Buy It Now
