Maine $treet Trader™
Focus on the past to improve trading the future(s).
Thursday, June 21, 2012
TREND DOWN day /tf
Shorting works best when Moving Avgs are fanned out to downside with 99 period on top.
Can manage trades all day by covering on sharp vol. drops extended past MAs. Then readded on tests of the 99 day MA.
Maintain shorts or add as Market signals ($uvol-$dvol and $advn-$decn) show deterioration.
Check fiblines for places of major support.
/tf never bottomed until it -- not suprisingly -- created a flat 3-touch line -- which did not occur until 3:54. Market Signals were clear -- there was never going to be a bounce today.
Post a Comment
Post Comments (Atom)