July 31 chart

was clear bulls at strength at the open -- TL developed and entry on the line yields a nice move of over 50 ticks -- just through first line of resistance -- the high from 2 days ago -- wicks through and dies.

/tf retraces slowly - -all the way to 3 am o/n lows -- as  adv-decrld drops - but never goes below zero - so bulls probably still in charge...

ramp through the Fed -- and suddenly rage on high tick....   dies just as suddenly at 3 pm and drops -- yep, all the way back to 3 am o/n low AGAIN -- providing another 24 ticks.


qcor, mx, aegr, yy, soda, regi, peri, grmn major winners.

/tf last day of month, FOMC games

goal tomorrow:

I want to see a TL develop clearly -- the third touch on a 15min. chart and then view it via 10tick range chart and enter on the third touch on this smaller time frame.  I want to see the Market Signals trending in the direction of the trade.

Then I want to hold it with a trailing stop either to a known support/res. area or else get stopped for a gain.

I also want to ONLY take this trade and do nothing else that gives back profit. 

This kind of trade sets up at least once a day.  I want to take it consistently and then focus on stock research.

7/30 Tues.

/tf .23%  at 7:19

/nq - above ystdy  hod.   .37

FB, TSLA, strong

/tf 1042.8 - pop

AAPL now in uptrend as well

GLW - 3.25  on ER.

ferts down HUGE on some kind of news...

MOS - pushes below 2010 lows.  Entry there good for 1.60

lesson:  KNOW YOUR SUPPORT / RESISTANCE LEVELS.



advrld  1200  --    665 -- trending down   10 min OR - break to downside...

5/34 xover now --    long      on 3rd touch TL..  market signals strong / support

/nq -- BREAKOUT __ _

/tf - struggling insider 10 min OR --

/tf - triple top formed -- took off  long --    +6t.

/nq - double top 5 min candles...   10:55 ?

/tf -- triple top -- and breaks below 10 min OR -

5/34 xover

shorted /nq on the double top.

internals confirming - hold short.

free trade /nq - stop in place

tough day here -- no trend...

bulls mostly in charge

long /tf -- on 3rd touch of bounce -- at the TL -- only have to risk about 6t

/nq --  NEW HIGHS....

/tf  will it follow off this turn?

 clear TL --  5min chart caught it -- think this is easier than 10tick range chart -- too much noise.

Need to see the clear sup/res areas --

market is in a downtrend so the TL is clear -- it's not clear how low we will go each day....

gonna need 1 hour -- here because not at a clear support area...

/tf  breaks

this was all clear -- the descending TL  on the 15 min chart -- touched in the morning...

/nq -- was stronger but now breaking too.

/tf -- bad long -- was NOT at clear support -- took a triple touch before 50 min.  

/tf  back to 1040 --  yesterday close --   dead money flat.

long /tf -- triple touch -- 1 hour from low... 

market signals bouncing.

advrld  flat -- 

/tf  near unch.

flat is flat. 

wow -- triple touches --  10t range chart makes it easier to see.


two triple touch set ups ... trade the edges...

July 29 Mon.

/tf -.24

weak start.

up: fb, ddd, fslr, irbt

weak: CYOU, SOHU --  HTZ, sbux, aig,

/tf - wedge at 9:25

Fri  low 40t away.

9:44 -- gap fill  fri. close touch.

adrl -247 tho.

5/34 xover -- drop below 10 min OR -- and smooth sailing for major trend down

Market Signals were giving it away.

High of day was simply a gap fill just past Fri close.    classic double top.

ad  -1400 - -major instit. selling.   No need to fight it intraday until patterns develop.

11:35 - euro closed.


3rd touch on 10tick chart -- was  just 3 minutes after low of day touched /tf -- then 30tick bounce.

/tf-- retrace 50% of today's top to bottom -- dropped to 2nd support (Thurs low) -- tl break, triple touch  - and slow roller to 50% fib.


short /tf   triple top  + TL break +  ad -752 and trending lower.  <--- -="" good="" p="" this="" was="" yep="">
We're under 10 min OR -- with weak internals -- have to follow trend.



3rd touch after major support/resistance areas -- pay big today.

+put in Fib retrace lines after 1% move or more...    captures the bounce.


Once again -- afternoon provided virtually nothing to work with - the key times for futures are the opening -- and the intial move by longs which was clearly wrong -- allowing for an easy entry -- but then the hard part -- holding the trend  until major support is hit.

/tf: weak internals - have to find a way to get short today

Fri July 26 chart

3rd touch is the charm... as long as you know the context.

July 26

Friday.

Often /cl is the best market to play.

And once again -- triple touch -- 3rd touch was 50 min. from the low.   and a 50 tick move -- day is over in 10 min.   at 9:05.  That's what's possible.

long /tf -- 50 min from low of day -- 3rd touch of established TL.

advrld -1300       9t stop.

I had established rules though.   -800+    NO LONGS at all.  So this is breaking my own rules.

5 is under 34 ma too.  So 2 broken rules.   Unlikely to be CP doing this. 

5/34 xover.  9:55



advrld -1250 -- rule is:  DON"T  GO LONG --

and /tf now breaks o/n LOWS --  heavy - sellers in control. Your job is to trend trade.

bot ACT, OCN --     strong today.  

5 under 34
advrld  -1300

trend is down.  end of story.

-1400  advrld --   massive exodus today. 

/nq-- outperform  .25%

/tf  still -.6%  --- huge difference.

amzn, yy, sbux, trip, tsla, akam --

bot ACT< OCN

/tf -- bounce to top of 10 min OR --  

advrld  -974 but way off opening lows -- this is not critical.  what's important is DIRECTION.


switching to 10tick -- candles rather than 5 min.



Basic idea:   Once you have trend in place  5 over 34 -- uptrend -- enter on a 3rd touch TL -- it could be below the 34 ma - doesn't matter.

the MAs are not enter/exit -- just trend signals to keep you focused on direction.  The entry is the developing TL which is dynamic.

The market signals + leadership list also keep you informed on trend power.

thurs July 25

Need to add in moving avgs. to create more structure for futures trading.


Trying to countertrend trade is not consistent or profitable.


/es  -.65 premarket -- correction continues.

/cl down  .71  - forming double bottom on hourly.

/tf - triple bottom  in the early am -- for 20t bounce.    Nice set up.

7:10 - /tf  5/34 xover
 /nq -- took out yesterday lows...   bounced 16 points - all before 7:20am.

/nq -- COAST TO COAST - took out yesterday's lows by a point -- regains entire move -- 23 point swing back to o/n high.

never looked back from 5/34 xover.

long  /tf -- on double bottom   5/34 -- xover to upside.

/tf  looks toppy but hasnt been 50 min. 
now advrld popping -- challening hod.  could take out early shorts.


triple bottom in p/m  - then triple top an hour after high -- and you could be done and in the sun.

still managed to grab 33 ticks with very poor trading -- using the 5/34 as guide.


5 over 34 ma all day....    trend up

advrld 910  at 3:48 -- no shorting.


trend up as advrld  pushes over 1000 -- simple rules -- no shorting over 800 no matter what.


Using 5/34 mas helps clearly see the intraday trend.