Market DROP? DROP! DROP!!

Friday, January 24, 2014

It’s been awhile but good to be back on the airwaves and what a day today!

Notable Charts

It was nothing but downside today as the Market open was DEEP in the RED and all 4 major indices following suit. All it took was a confirmation on both EMA charts and entry was good for up to 240+ ticks today. Not that I took that many but enough to lick my chops at the end of the session. Rules are simple and disciplined. It’s simply having a STOP in place and know

Market indices all under range.

Market indices all under range.

Market internals bias to the downside.

Market internals bias to the downside.

Price Action hits Fib target one on market open. Open Range not set. Double EMA crossover.

Price Action hits Fib target one on market open. Open Range not set. Double EMA crossover.

25m Open Range set. Fib target 2 Hit. Wait to enter under 1151.6.

25m Open Range set. Fib target 2 Hit. Wait to enter under 1151.6.

Fib target 3 Hit. EMA intact. Contracts off. Move stop.

Fib target 3 Hit. EMA intact. Contracts off. Move stop.

Fib target 4 and Monthly Pivot hit.

Fib target 4 and Monthly Pivot hit.

Price action holds at the Monthly Pivot. Decision time.

Price action holds at the Monthly Pivot. Decision time.

Always trade with a stop.

Always trade with a stop.

EMA Double crossover confirmation.

EMA Double crossover confirmation.

EMA crossover with notation.

EMA crossover with notation.

 

 

 

 

 

 

 

 

ing when to lock profits and hold greed form giving it back. Hope you did as well today!

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s