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Don't mind the questions - I see that I forgot to attach both GIF's
which are now attached. (A) shows the wedge setup and the break. And (B)
shows the sideways action. Don't understand the question regarding
"thinking behind the math" - generally I find that flags can be counted
on to move 62% of the pole length as described. The r/r for the trade
was 3:1.
As things stand now I will remain on sidelines even though price has
finally started moving down. My trigger for ID short trades is the break
of the low of the day prior to the ID which in this case is 96-11. Since
the major trend is up, the 38% retracement lies at 96-06, and there was
so little momentum follow-through to the Bear Wedge, I'm not inclined to
take the ID trade because it doesn't fit my r/r objectives. Doesn't mean
it may not be a good one or that the Bear Flag objective may not be met.
Earl
----- Original Message -----
From: "T-Bondtrader" <t-bondtrader@xxxxxxxxxxxxx>
To: <eadamy@xxxxxxxxxx>; <realtraders@xxxxxxxxxxxxxxx>
Sent: Tuesday, June 06, 2000 8:42 AM
Subject: Re: [RT] Bonds (Wedges and Wedges)
> I hope this is not going to be out of context and you do not mind my
asking
> the questions!
>
> > We entered short on the break of yesterday's wedge with a stop at
> > yesterday's high - a rather wide stop for the bonds but I had to
leave
> > the computer for a bit.
>
> When you entered, did you have a target and what would your r/r/r have
been?
>
> >We are still > looking for a break south
>
> From where?
>
>
> > with a target of 95-27 which is equal to 62%
> > of the length of the pole of the bear flag deducted from the
yesterday's
> > high.
>
> Could you explain your thinking behind the maths?
>
> For my part, today has not been a day that got me in to a trade. So
far, I
> have not seen a trade with a r/r/r that I would take (i.e. not less
than
> 3:1) and I am waiting (and doing other things on my computer while
doing so)
> for my inside day trade - but if this goes on much longer, we will end
up
> with an inside on an inside day. Then we really should see a break
that is
> worthwhile, tomorrow - if it ever comes...
>
> Anyway, I certainly agree with you standing aside until YL is
breached. I
> feel sure the movement today is going to be heavily dependent on the
S&P.
> It's trend north will be our saviour, I hope!
>
> Bill Eykyn
> www.t-bondtrader.com
> "Learn to read the tape"
>
>
> ----- Original Message -----
> From: "Earl Adamy" <eadamy@xxxxxxxxxx>
> To: <realtraders@xxxxxxxxxxxxxxx>
> Sent: Tuesday, June 06, 2000 3:11 PM
> Subject: [RT] Bonds (Wedges and Wedges)
>
>
> Price moved down to the 78% retracement of
> > yesterday's rally and started work on another wedge having risen
just
> > short of the 62% of the decline from yesterday's high. If we don't
get
> follow through to downside pretty quickly, we will
> > move to the sidelines and wait for a break of yesterday's ID low at
> > 96-15.
> >
> > Earl
> >
> > ----- Original Message -----
> > From: "Earl Adamy" <eadamy@xxxxxxxxxx>
> > To: <realtraders@xxxxxxxxxxxxxxx>
> > Sent: Tuesday, June 06, 2000 5:46 AM
> > Subject: [RT] Re: Sv: Re: Bonds (Final)
> >
> >
> > > Good find! Combine this with the bear flag and the case is even
> > stronger
> > > for a corrective move down.
> > >
> > > Earl
> > >
> > > ----- Original Message -----
> > > From: "Stig O" <olausson@xxxxxxxxxx>
> > > To: <realtraders@xxxxxxxxxxxxxxx>
> > > Sent: Monday, June 05, 2000 3:32 PM
> > > Subject: [RT] Sv: Re: Bonds (Final)
> > >
> > >
> > >
> > > A 10 minute chart reveals a rising (bearish) wedge on the 10
minute
> > > chart I have been looking at.
> > >
> > > I would expect (orderly) lower prices if broken downside(highest
> > > probabillity). And SWIFTLY rising prices if broken upside (lowest
> > > probabillity)
> > > Stig
> > >
> > >
> > >
> >
> >
>
>
>
>
>
>
Attachment Converted: "f:\eudora\attach\USM_05A.gif"
Attachment Converted: "f:\eudora\attach\USM_05B.gif"
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