NaughtyPines
Short

WAITING FOR 1H 8/34 CROSS BEFORE CONSIDERING /ES, SPX500 SHORT

FX:SPX500   S&P 500 index of US listed shares
6 months ago
I've been waiting virtually "forever" for a "downward facing" 8/24 EMA on the 1H to initiate a "fingertrap" short on /ES ( SPX500             shown here; the "fingertrap" method is described in the post below). The actual EMA cross hasn't occurred yet, but price has broken below the 34 EMA, which is promising for the setup. Naturally, the movement can fizzle out, particular in the Asian, so I wouldn't necessarily get excited yet. Set your alert for the cross, and then come back when it goes off ... .

I'll try to post paper trades in SPX500             here, while simultaneously trading /ES.
6 months ago
Comment: Typical Asian. "Promising" movement initially, but has petered out here, so not looking good for a continuation down. Will check back at top of the hours or on cross alert.
6 months ago
Comment: And this is why I wait for the cross + confirmation (e.g., a completed 1H candle below the cross). You may miss some of the move, but I'm not looking for 4 points, I'm looking for large point continuation ... .
6 months ago
Comment: The cross is nearly complete. Unfortunately, it's Friday, and I'm not sure I want to hold a short over the weekend. Weird stuff happens ... .
6 months ago
Comment: What the heck, shorted 1 @ SPX 2157.4; SL above 5 min swing high @ 2160.2.
6 months ago
Comment: Scaling in: -1 @ SPX 2159.4; net -2 position at 2158.4.
6 months ago
Comment: Stopped out. (Sad face emoticon).
NaughtyPines
6 months ago
Yesterday's Asian session turned out to be fairly typical with range bound action between the previous day's hi/lo .361 and .618 Fibs. If I hadn't had my heart set on a fingertrap setup, trading this range could have been productive.
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