Wednesday 26 September 2012

Trend Day Down

Yesterday was a trend day down in the stock indexes (indices?). What that means for me is that if the market retraces some of that move before the open of the next session, I look for a place to put a trade on.

 In today's case it was the ES. I was up at about 4.30am London time and had to wait until after 7.30am before my trade appeared.

 Price had been trading above the 33EMA on the 2 minute chart. I used 2 minutes as the volume is thin in the Asian session of ES. The Picture tells it all.


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2 comments:

  1. Anonymous26 September 2012 at 20:07

    jenrique42

    Today I have done nothing, and only seen the evolution of the market, why?, because when I came back from the gym and seen that all markets were in full rotation, this being a very, very delicate situation I decided that it was better to do nothing and in the end that's what I've done

    jenrique42

    hoy no he hecho nada, solamente e visto la evolucion del mercado, porque ?, porque cuando he vuelto del gym e visto que todos los mercados estaban en pleno giro, siendo esta una situacion muy pero muy delicada he decidido que mejor era no hacer nada y al final eso es lo que he hecho

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  2. Paulo C5 October 2012 at 15:23

    Very interesting post Tom
    You now use renko charts instead of range bars?
    Have a nice weekend

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