Archive for the Emini futures Category
I have been busy today and posted quite a few times in a short space of time!
Anyway, I entered another trade after the previous and make all the losses back to close at 0.3 points in profit! Hoorah, at least it wasn't a loss!
As I mentioned earlier, I was talking about the head and shoulders pattern. It wasn't a perfect pattern but as I write, the market has indeed reversed and hit my targetted endpoint at 1388 and indeed has gone beyond this!
In addition, I didn't mention my Fibonacci
May 28, 2008
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Today, I saw the perfect Head and Shoulders pattern on the S&P and got very excited. Look at the diagram, the 3 red dots signify the shoulders and head. I have read about this pattern in technical analysis books and in most cases, they signify a reversal pattern. I was looking at the chart moving up to at least 1388!!
Anyway, I went long at the second shoulder.. the market moved 2 points up my direction.. it was looking good and then tanked, breaching the limits of the second shoulde
May 28, 2008
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I thought I would post where the S&P ended up when I closed my trade early at 1382. I took 2 point when there was 8 for the taking!! Arrgh..
Anyway, it's good to look back on the charts and see where it went wrong. The obvious exit would be when the S&P crossed below the 80 line in the stochastics and the MACD crossed.. this would have been at about 1386 which would have been still, a lot further than where I got out!
May 27, 2008
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