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-- Big Mike, Site Administrator
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I'm not sure why you're copping so much animosity but I really appreciate your posts, as I'm sure the rest of the silent majority does. I may not agree with everything you say but your comments provoke thought, so please keep it up.
I am buying the SHIT out of 6E down to 1.2480 if it goes back down there {and was buying beginning @3:30am est on Friday a.m. USA}.
I am ADDING LONGS on breakouts (confirmed) HIGHER on 60 minute chart and 120 minute chart and 240 minute chart.
I will peel off many of these shorter-term 'cylical' bottom/low LONGS @ 1.2600/1.2675 & 1.2725.
Continuing to hold my CORE positions for multi-month advance in stair-step UP move into (minimum) Sept 3rd {week of}. However, that being written--I am up (open equity) 150 to +250pips on this LARGE position; thus I am trading w/the houses money and will peel off CORE portions @ and/or near 1.29/1.32/1.34
All of my non-core position trades have a MINIMUM 1 to 2.5 or LARGER risk:reward.
*Caveat: Dollar made/is making cycle HIGH today and is a short for a few days.
peace
hedvig
p.s. I really don't tolerate, er--Big Mike doesn't--disrespectful posts to contributing members. I'm really not the 'sensitive' type; however~~I back down when challenged on the internet (I have NOTHING to prove, btw).
Reason being; no one wants to see another internet fight on a trading discussion forum. I am referring to a poster that went a bit 'postal' on me; little ol' me--just a retail dude trading from home; with SIZE~~yet a small fish in a huge liquidity-filled FUNNY-mental marketplace.
Go figure, eh?
Finally, I will attempt to provide a bit more insight into my swingtrading over time (6E, U.S. Indices, CL, GC, ETF's etc...)
However, I am a busy boy and actively intraday trade 5.5 hours per day and then within that time allotment I go over ALL my swingtrading positions (daily up to monthly swingtrades) and then speak with my financial/trading partner(s) & finally, I chase a tremendous amount of 'tail' as a single older male (yea I know; it is immature).
I probably won't do a webinar, however, I will try and contribute more and add value to the best damned trading website on the internet!!
Again, peace.
I'll see if I can do some more charts and such next week but for now; I drink my drink (4X's distilled Green Dragon 85% THC 'tincture') & take a hot tub. Then it is onto my avocational hobbies of debauchery and decadence.
The run threw the stops left me feeling like this is not a good trade... bought the 508 anyway. I scaled out half @ 530, moved the stop to 480. I now feel that were headed toward a double bottom, but I'm going to stick with the plan....with much less leverage. The market is so short I feel a big move coming.... My charts say otherwise! I am looking for some serious buying interest at the 0's in the next few hours if not... I look to get out at a scratch.
I was also watching this level . Look how the price is respecting the median lines. Problem was not much volatility or volume yesterday mostly that is followed by reversal & trending mkt. Let us see how it will unfold?
Where's the Volume? I was wondering the same thing. I brought up this VP Chart, it shows the a profile of the last three trading sessions (Friday, Sun/Monday and Today). Price was sitting right in the "cleavage" at 2:00 am Eastern. I thought the GFK CONSUMER CONFIDENCE SURVEY release might stir up some enthusiasm this morning. I placed sell orders around the +1 SD level to get short and targeted a portion of the range with buy orders around the -1 SD level. I had a hard stop sitting on 1.2535. I figured the position was going to get taken out when the market rotated up to the highs, but NO, it survived and the market came my way. But I still almost screwed up the trade, I didn't have the right quantity set on my targets, I got that straightened out and took the first sign of profit. A few minutes ago the POC, the Pivot and the VWAP were all within 4 a tick range. I suggest extra caution this morning on any position, in any direction (use a stop). A little news, a rumor or volume could set this thing off in either direction, (to those high volume areas) IMO. I don't like living on the edge, I might be done for the day.