In this video I go over several reasons why yesterday's low signaled to me that it is a good low to now look for longs. I use a measuring tool for rotations, Bollinger Bands (20 Period 3 Standard Deviation), 10 day Moving Average, and the Year To Date Auto Anchored VWAP.
I connect my TradeStation account to Trading to Trade Futures.
Past performance is not indicative of future results. Derivatives trading is not suitable for all investors.
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Today's close was a good confirmation that this rally may have legs. Tomorrow's FOMC decision is obviously key. As long as we can sustain trade above today's low I think that we keep going up for now.
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Key for me in this trade was to scale out. I took a lot of my positions off on the Fed day, but the next day I put many of them back on and got smoked. I'm the first to admit when I'm wrong. That's why we have risk parameters and stop losses. Cheers
Not sure why you are bullish to be honest. The environment is not supporting bullish mood. It is not only the technical analysis . It looks like most traders understand bullish market only
anthonycrudele
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@drpero, Was just a trade. I dont have to be bullish for more than a trade. The trade worked at first and then I got stopped out on my balance. Im the first to admit when I'm wrong.
TV's whole "shared ideas" thing is absolutely beyond my comprehension. Trading is zero sum. I'd love to play poker with people who literally show their cards every round. I'll gladly take everything they have.
jeetje1
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thanks for sharing, good call! Also we have a divergence on the 3D chart.
thekdog54745
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Wow you nailed that one, bad I saw it a day late. Great work!! Love watching listening and learning in these very tough trading conditions.