Here is roadmap for tomorrow. To answer previous question, my system does not utilize Jackson stuff. But have similar ideas.
Here's a chart of the YM, I'm thinking pinball action tomorrow (consolidation of yesterday's gains). JJ
Here's the book SS is speaking of: Amazon. For the record, I don't use price levels, I just use price action and differnt tools to measure market strength. Good trading, JJ
Whatever works. Many ways to make a trade. For me I prefer to put in the work the night before so I can relax and not worry about where it will reverse the next day.
Hi, last friday price came close but did not hit any S/R lines so no trades for the day. Here s the road map for monday. Fed meeting is this week. Days prior to this event tend to be range day so hopefully this system would work.
Here is the summary for today setups. 3 S/R lines were hit and results are 2 winners and 1 break even. The NQ short is good for about 10pts. The ER short is for 3pts. I want to clarify my stops. Some would say this is too wide but I find this works for me. YM: 25pts Es: 2.5pts NQ: 5pts ER 2pts These are initial stops when put on a trade. Once in a trade I narrow my stop accordingly. I'll post tomorrow's road map later tonight. Later
What a nasty drop today. My fading system is not design for after the fed announcement trading. It is design for range day. We should see some consolidation tomorrow so one can go aggressive using this system. With this system if you can avoid days like today you should be ok. If you think about it, market spend most of the time consolidating and very few days trending. Thus, I am happy sitting out on days like this. There is no need to force the issue.