Emini Trading Update – Friday 26 Oct 2012 (14:12)
We could well get a bounce on Monday – but the downtrend has definitely started. The end will be marked by Pull Back to End of Trend on the daily chart, and that’s a ways away.
I think some traders might be finding it difficult at the moment. Only been getting a few emails about successful trades or OSOK’s. Keep the emails coming, I always enjoy reading them.
But if you’re finding it tough going: trade less, watch the charts, focus on your method. Nothing wrong with standing aside and re-grouping.
Quote of the day …
4,500 Tick from 24-25 Oct 2012
From Andrew O. at the end of Wednesday
“Today your system was epic. Did you see the set up around 3:40 EST time? The 4500 tick chart lit up blue, then I checked 500 tick and the blue bars stated appearing, Better TRIN on 5 min had bullish divergence. I saw the bottom put in 1401.75 x 3 on my point figure chart. The two day rsi which I suggest you look at it (holy grail of indicators of a daily) is pinned oversold, vxx is 5 percent above it 10 day simple MA, all looking for rally.
Your system gave me the confidence to load up, bought 30 at 1402.75. Sold them at 1407.00 on the RAMBOs.
… (the next morning) … The 4500 tick chart is smoking hot. Sold the rally this AM on that chart. Take a look around 9:30 EST. Pro bars lit up the move for a sell.”
And from Warren H. on Thursday
“Hi Barry, Just wanted to keep you updated on my trading. Still doing well. Had a one shot one kill at 10:20 am. I went short at the bottom of congestion at a lower high. I was out 8 minutes later with 4 points. A great day. Thanks Barry!”
Good luck with your Emini trading.