Wednesday, August 7, 2013

Aug 7 Wed.

/tf   -.16

may be rangebound consolidation after large move yesterday?

SNTS -- the co. that never quits   8% pm.

solars down big.

Z, GPOR weak.

/tf  -.34


So  nailed the opening mostly -- got the 10 min OR break -- for 31 ticks...  then gave back 13 on non-plan trading.

Like 1 min candles for the first hour -- saw the clear top above the 10 min OR.

short /tf --

under 10 min OR
market signal break
triple touch pattern.

ADr  -862 breaking lower...

Is everything lined up?

Yes -- and out at 1042

37 ticks on the day -- despite a 13 tick dumb trade.


/nq  at 3108.75 -- at   61.8% intraday fib  and near  10 min OR low.

12:30 pm -   5/34 xover on /nq -- causing a short cover rally.  <--- can="" emerges.="" new="" p="" pattern="" reshort="" t="" until="">
market signals turning down   1:50

/nq - top of 10 min OR --  

ADn  -1200 -- is irrelevant  to Price Action first. 

all /tf  did after drop was establish a TL to bounce from.

bot SQQQ -- TOP of hourly channel -- responsive  with   ADn -1000

5/34 xover -- keeps you on the right side of the trade -- it will mean later entries but it will pay by not taking early shorts.

/nq  fully above 10 min OR -- bulls in control. 

can't make up new rules.

the 5/34 xover - - will keep you on the right side of the trend  MOST of the time.   But enough to be CP.

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