|
PureBytes Links
Trading Reference Links
|
When previous 95-14 high was taken out, raised stop to 95-09 (just under
the up-sloping wedge line) and put an OB order in at 95-19 to exit a
tick below 95-20 price objective. Rally on 5 minute chart failed and
declined to stop at 95-09. Canceled OB order. The weaker wedge correctly
predicted possible failure of the last wedge. Doesn't mean that price
won't move higher, however I control counter-trend trades pretty
tightly. Entry 94-28, exit 95-09 - in both cases I was filled exactly at
my order price - not unusual in bonds.
I don't usually day trade, however I'm not adverse to getting paid when
I'm watching charts closely for possible reversal. Bonds should be very
close to end of w.4 correction and beginning of w.5 decline.
Earl
----- Original Message -----
From: "Earl Adamy" <eadamy@xxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Friday, May 26, 2000 10:04 AM
Subject: [RT] Re: Bull flag setup
> Looks like another bull flag with 25% retracement forming on the 5
> minute chart just under the 62% pole price objective. We have breakout
> above the wedge and move above pole high of 95-15 will confirm the
move.
> The steeper angle of the upper wedge line indicates possible weakness
> relative to the previous wedge. Now running stop at 95-06, will
> unconditionally exit trade at next price objective.
>
> Earl
>
> ----- Original Message -----
> From: "Earl Adamy" <eadamy@xxxxxxxxxx>
> To: <realtraders@xxxxxxxxxxxxxxx>
> Sent: Friday, May 26, 2000 8:51 AM
> Subject: [RT] Re: Bull flag setup
>
>
> > Price has now moved through resistance and we can make some price
> > projections. Heavy blue line is the 50% retracement of the daily w.3
> > decline. We have 2 bull flag projections: the first (95-13) is 62%
of
> > the length of the pole projected from the bottom of the retracement
> and
> > the second (96) is 100% of the length of the pole. The green line at
> > 95-30 is the 162% projection of the initial rally/retracement
> beginning
> > which began on the 19th. Stop has now been moved above the wedge
> > breakout assuring (net) breakeven on the trade. Because the trade is
> > counter-trend to the major trend (down), the trade will be closed
out
> at
> > the earlier of price target(s) or close of trading.
> >
> > Earl
> >
> > ----- Original Message -----
> > From: "Earl Adamy" <eadamy@xxxxxxxxxx>
> > To: <eadamy@xxxxxxxxxx>; <realtraders@xxxxxxxxxxxxxxx>
> > Sent: Friday, May 26, 2000 8:28 AM
> > Subject: Re: [RT] Bull flag setup
> >
> >
> > > Here's a look inside the bull flag using a 10 minute chart. Note
the
> > > bullish wedge formation as documented in PPS Trading System by
> Curtis
> > > Arnold. The heavy red line is the entry stop and the sloping red
> line
> > is
> > > the PPS stop. Formations like this frequently occur just under
> strong
> > > resistance(support) such as the 95-0 area which can be seen at the
> > very
> > > top of the GIF.
> > >
> > > Earl
> > >
> > > ----- Original Message -----
> > > From: "Earl Adamy" <eadamy@xxxxxxxxxx>
> > > To: <realtraders@xxxxxxxxxxxxxxx>
> > > Sent: Friday, May 26, 2000 8:11 AM
> > > Subject: [RT] Bull flag setup
> > >
> > >
> > > > Attached is GIF of a nice bull flag setup on 30 minute bond
chart.
> > > Note
> > > > that retracement is limited to 25%.
> > > >
> > > > Earl
> > > >
> > >
> >
>
|