Mohan
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Continuação
Trade Setup Summary for Friday, July 4, 2003:
No Headline Call on Thursday therefore no trade summary for today.
Recap of Friday's Action:
Good Morning and welcome back from the extended weekend. Hope you had a relaxing time.
Let us continue our study of the book "The 21 Irrefutable Laws of Trading".
"All traders who consistently make profits do so because they learned to persist in the face of adversity until they won. The ability to possess a tenacious persistence requires well-founded empowering beliefs, a strong feeling of faith, confidence originating from faith but based on abilities, and a well-disciplined mind that promotes a strong feeling of courage, which allows you to trust your intuition."
There was no Headline Call for Thursday hence there were no TCF Trade setups to review for today. Usually when we do not have a Headline Call it is for a good reason due to a holiday, Federal Reserve interest rate announcement day or Option expiration day. These often end up being really good trading days to avoid due to erratic market action and Thursday was certainly no exception.
Our goal on these daily Morning Call briefings is to not only show you how to make excellent trades but also how to think and act like a Pro S&P500 trader. One of the most important aspects of learning to be a real Pro trader is to get over "having to trade" everyday. There are so many days when crystal clear setups will occur and when the TCF indicators are giving us strong directional bias that we want to be willing to wait for those days. Doing this will bring a real focus to your trading and will allow you to MEGA LEAP your S&P500 trading career.
The market opened down about 6 handles from the close on Wednesday and went flat until 10:39 est when the now (already) infamous "order disruption" in the Emini Dow occurred causing a panic drop in the indexes across the board. A fast shot down almost 10 handles to 974.50 threw the markets into a temporary panic before stabilization came in. If you heeded our advice and took extra time off Thursday you could have simply avoided this whole rather upsetting incident. Those who felt they "had to trade" got to start the nice long weekend with a jolt to the nervous system and an upsetting trading day. Trust me I've seen these shenanigans occur before on these short scheduled days and regardless of how they occur it's nice to hear about the action and know you successfully avoided the whole drama.
The BreakDown Hour One pivot at 985.50 was hit within the huge spike bar/candle lower but it was not an official TCF trade setup in any way as there were no indications of a Bear Ugly day setting up with the prices or the High Five. Again, as mentioned, stabilizing prices came in pushing the market back up some and settling just near the Pit Bull 10 Day Moving Average.
Today's Call & Briefing:
In order to let the TCF indicators and the numbers reset themselves from the holiday trading we are not going to offer a Headline Call today. There are mixed indications for overall market direction and by letting today's action give us clues we will be able to re-cock all the indicators for tomorrow's action.
TODAY IS A TRIN SELL DAY: What is a TRIN Sell day you might ask? Well, it is part of a reliable pattern approach that I have been using for years to give extra input on market direction. The system gives us a TRIN Sell today based on a particular setup with the TRIN indicator and we monitor the results as a GAUGE ONLY. Now the super cool advantage of this TRIN gauge is that whichever way the MARKET REACTS TO THE OPENING PRICE RANGE is fine and will give us the clues we need to determine market strength or weakness. Because it is a TRIN Sell day we will be monitoring the opening prices to see that the market HOLDS BELOW THE OPEN to confirm the bearishness. If we see that the prices are pushing up above the opening and HOLDING ABOVE THE OPENING then we can see that the gauge is going into what I call "aberration". We monitor a 12-15 point mental stop to determine if the whole trade idea is "stopped out" and will usually be looking to take an opposite position (which in this case would be a buy ) if this occurs. If the prices hold below the opening this will tend to confirm the bearishness and upon seeing this we would expect LOWER PRICES THROUGH MID SESSION TUESDAY.
NO RECOMMENDED TCF TRADE SETUPS TODAY AS WE ALLOW INDICATORS TO RE SET.
Value Area: 985.00 - 989.80
Prices are closing BELOW the Value Area today and this is a bearish sign. Based on the above TRIN gauge idea we want to watch the opening price and see if they continue to hold below the opening AND the bottom of the VA here at 985.00. Doing this will confirm a bearish bias.
Buy Pivot Target: 974.25 - 975.25
No trades recommended at this target today. Let's let the market get back in sync with the traders coming back from the holiday, see what the commercials are going to be doing (if anything) and see what clues the opening half hour of trading bring. Don't worry, we won't miss anything.
Sell Pivot Target: 992.50 - 991.50
No trades recommended at this target today.
10 Day "Pit Bull" Moving Average: 980.40
We are on CROSSOVER ALERT with the Pit Bull today and that means the markets could stage a strong move lower upon crossing below 980.00 and holding lower. With this number being close to the final closing price it will provide important additional clues along with the TRIN Sell.
Pro Trader's Action
We are taking today to let the TCF (21st Century Futures) indicators re- cock themselves, test the opening prices along with the TRIN sell and determine where the volume is coming from on today's moves. This will give us a professional means to view the rest of the week.
Those subscribers who have read our S&P500 Handbook thoroughly and feel they understand the setups will have a perfect opportunity to watch them work today without being involved. This is excellent for your research as it increases your ability to perceive how things are going on in the markets in conjunction with our TCF methods. We will have a full review of the action tomorrow and will be prepared to nail an 8-10 point move in the S&P500 too.
Although the summer can often be slow from a trend point of view it can be ideal for us intra day traders who can make a nice living off the daily range. Let's watch the markets reaction to the numbers today and see how things play out in relation to the order mismanagement that occurred on Thursday leaving a lot of traders holding the bag. Keep an eye on the TRIN Sell setup in relation to the opening along with the Pit Bull and the Value area all converging today.
Again, don't even concern about "missing something" because in our system we always know that "8-10 points is 8-10 points" and it really doesn't matter where or how we get those trades. As long as our TCF indicators and correct trade setups are occurring...we will be successful. Mohan
No Headline Call on Thursday therefore no trade summary for today.
Recap of Friday's Action:
Good Morning and welcome back from the extended weekend. Hope you had a relaxing time.
Let us continue our study of the book "The 21 Irrefutable Laws of Trading".
"All traders who consistently make profits do so because they learned to persist in the face of adversity until they won. The ability to possess a tenacious persistence requires well-founded empowering beliefs, a strong feeling of faith, confidence originating from faith but based on abilities, and a well-disciplined mind that promotes a strong feeling of courage, which allows you to trust your intuition."
There was no Headline Call for Thursday hence there were no TCF Trade setups to review for today. Usually when we do not have a Headline Call it is for a good reason due to a holiday, Federal Reserve interest rate announcement day or Option expiration day. These often end up being really good trading days to avoid due to erratic market action and Thursday was certainly no exception.
Our goal on these daily Morning Call briefings is to not only show you how to make excellent trades but also how to think and act like a Pro S&P500 trader. One of the most important aspects of learning to be a real Pro trader is to get over "having to trade" everyday. There are so many days when crystal clear setups will occur and when the TCF indicators are giving us strong directional bias that we want to be willing to wait for those days. Doing this will bring a real focus to your trading and will allow you to MEGA LEAP your S&P500 trading career.
The market opened down about 6 handles from the close on Wednesday and went flat until 10:39 est when the now (already) infamous "order disruption" in the Emini Dow occurred causing a panic drop in the indexes across the board. A fast shot down almost 10 handles to 974.50 threw the markets into a temporary panic before stabilization came in. If you heeded our advice and took extra time off Thursday you could have simply avoided this whole rather upsetting incident. Those who felt they "had to trade" got to start the nice long weekend with a jolt to the nervous system and an upsetting trading day. Trust me I've seen these shenanigans occur before on these short scheduled days and regardless of how they occur it's nice to hear about the action and know you successfully avoided the whole drama.
The BreakDown Hour One pivot at 985.50 was hit within the huge spike bar/candle lower but it was not an official TCF trade setup in any way as there were no indications of a Bear Ugly day setting up with the prices or the High Five. Again, as mentioned, stabilizing prices came in pushing the market back up some and settling just near the Pit Bull 10 Day Moving Average.
Today's Call & Briefing:
In order to let the TCF indicators and the numbers reset themselves from the holiday trading we are not going to offer a Headline Call today. There are mixed indications for overall market direction and by letting today's action give us clues we will be able to re-cock all the indicators for tomorrow's action.
TODAY IS A TRIN SELL DAY: What is a TRIN Sell day you might ask? Well, it is part of a reliable pattern approach that I have been using for years to give extra input on market direction. The system gives us a TRIN Sell today based on a particular setup with the TRIN indicator and we monitor the results as a GAUGE ONLY. Now the super cool advantage of this TRIN gauge is that whichever way the MARKET REACTS TO THE OPENING PRICE RANGE is fine and will give us the clues we need to determine market strength or weakness. Because it is a TRIN Sell day we will be monitoring the opening prices to see that the market HOLDS BELOW THE OPEN to confirm the bearishness. If we see that the prices are pushing up above the opening and HOLDING ABOVE THE OPENING then we can see that the gauge is going into what I call "aberration". We monitor a 12-15 point mental stop to determine if the whole trade idea is "stopped out" and will usually be looking to take an opposite position (which in this case would be a buy ) if this occurs. If the prices hold below the opening this will tend to confirm the bearishness and upon seeing this we would expect LOWER PRICES THROUGH MID SESSION TUESDAY.
NO RECOMMENDED TCF TRADE SETUPS TODAY AS WE ALLOW INDICATORS TO RE SET.
Value Area: 985.00 - 989.80
Prices are closing BELOW the Value Area today and this is a bearish sign. Based on the above TRIN gauge idea we want to watch the opening price and see if they continue to hold below the opening AND the bottom of the VA here at 985.00. Doing this will confirm a bearish bias.
Buy Pivot Target: 974.25 - 975.25
No trades recommended at this target today. Let's let the market get back in sync with the traders coming back from the holiday, see what the commercials are going to be doing (if anything) and see what clues the opening half hour of trading bring. Don't worry, we won't miss anything.
Sell Pivot Target: 992.50 - 991.50
No trades recommended at this target today.
10 Day "Pit Bull" Moving Average: 980.40
We are on CROSSOVER ALERT with the Pit Bull today and that means the markets could stage a strong move lower upon crossing below 980.00 and holding lower. With this number being close to the final closing price it will provide important additional clues along with the TRIN Sell.
Pro Trader's Action
We are taking today to let the TCF (21st Century Futures) indicators re- cock themselves, test the opening prices along with the TRIN sell and determine where the volume is coming from on today's moves. This will give us a professional means to view the rest of the week.
Those subscribers who have read our S&P500 Handbook thoroughly and feel they understand the setups will have a perfect opportunity to watch them work today without being involved. This is excellent for your research as it increases your ability to perceive how things are going on in the markets in conjunction with our TCF methods. We will have a full review of the action tomorrow and will be prepared to nail an 8-10 point move in the S&P500 too.
Although the summer can often be slow from a trend point of view it can be ideal for us intra day traders who can make a nice living off the daily range. Let's watch the markets reaction to the numbers today and see how things play out in relation to the order mismanagement that occurred on Thursday leaving a lot of traders holding the bag. Keep an eye on the TRIN Sell setup in relation to the opening along with the Pit Bull and the Value area all converging today.
Again, don't even concern about "missing something" because in our system we always know that "8-10 points is 8-10 points" and it really doesn't matter where or how we get those trades. As long as our TCF indicators and correct trade setups are occurring...we will be successful. Mohan
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- Mensagens: 620
- Registado: 5/11/2002 2:26
Mohan
Eu não tenho o treino da Pata, de modo que... vamos lá a ver o que sai... (Ahh, e vou colocar em 2 posts):
No Headline Call today as we allow the numbers and the TCF (21st Century Futures) indicators to reset after the holiday.
No Headline Call today as we allow the numbers and the TCF (21st Century Futures) indicators to reset after the holiday.
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- Mensagens: 620
- Registado: 5/11/2002 2:26
2 mensagens
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