Emini Trading Update – Tuesday 25 Sept 2012 (13:24)
Forget my piddling 4 points on the move, this is trading. From Paul and Barbara, a husband-and-wife trading team (an awesome idea):
“If you only had one trade to make this month, this was it! Barry, what a day. Here’s what we saw early in the day. I speculated that the 40,500 tick chart was going to be making a down cycle by the end of the day. The daily momentum was moving down over the last weeks but price was steady so I figured something had to give one way or the other. Then, my wife spotted double exhaustion on the 4500 followed by a bear divergence. I also follow the 55,000 tick for fun and it generated a big flush at the top. We were in another class online and those folks had just gone long while I was very short based on your indicators (they quickly reversed BTW). Then, there was what I call a ‘waterfall pattern’ forming on the 4500. It sometimes takes a while to kick in but the results are always dramatic so the plan was coming together for a big move. When the 40,500 started to bottom, cycle bottoms had been broken and the move was well into maturity. That was a great place to exit with a 4500 pro exit. By the end of the day I extracted about 9 points from that move. You should be proud today because all of your work came together for us. Tick charts in multiple timeframes, Better Momentum, pro exits … it was all there because of your endless years of teaching. Thank you again Barry.”
And from Chris G, who took the trade on Crude:
“Hi Barry, Just wanted to share a trade with you that I had last night. Recently started looking at trading oil futures (CL) as it moves nicely at the start of the globex session … plus I’m too sleepy by the time the emini day session starts as im in Sydney. Anyways, we still needed to make the 2nd cyclical turn after end of trend on the 13500 tick bar chart so I was looking for a short entry after the Nymex open last night. Well I got it, end of trend on the 1500 and a pull back on the 4500 tick chart. So I went short before bed at $92.83 and woke this morning with a big smile on my face to an almost $2 move!!! Thanks for the most kick ass indicators Barry! They seriously are changing my life!”
Good luck with your Emini trading.
