Friday, December 19, 2008


The way I trade best is to go in with my plan, be ready to trade it when the occasion arises but NOT to go out with a need to find it. The mind (at least mine...) can find whatever it's looking for if the need is great enough- even if it's not there. I find that it's best to go about your business and, almost find them "by chance"...

This happened today at 4:07ET. You can see the volume declining on each of the three lows, with each of the three waves declining in magnitude. As it was such a steep drop (seen more clearly on the 30min)it needed to form that rounded bottom to see any real retracement as compared to the first drop into 4:07ET. I've shown what I saw developing in price action after I exited...did eventually pop higher on increasing volume just after that period of really low relative vol-the little white circle on the 1min chart. It exhausted itself at the whole number along with trendline resistance and 1st target congestion zone. Entry 1.4028, Stop 1.4017, Exit 1.4050 (at the resistance shown for a 2R gain)

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