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> We are trading off of different time frames...I am swing trading, looking
> for several big figures at a time and willing to hold positions for several
> days or more...I am also not watching every tick. I am day trading S&Ps and
> Nasdaqs, so I can at best glance at bonds a few times every few minutes
> once Spoos open.
I quite understand what you are saying. I am just seeing if your concepts would work on a day trading basis on the bonds. Certainly, when I look at the charts I can see the price running along the tynes, as it were, and that when it moves away, then presumably one is looking for the next one as a sort of res/sup line??
Under my trading concepts, the market opened with an either way gap. The news reversal did not come to much and, in fact, cost a couple ticks, notwithstanding the mini DT and hanging on. It then started to look very like a third time through - which together with the flat top wedge forming - became a powerful signal to buy the break and the 105 evens target on which to take profits has been reach without too much sweat - and holding for the sideways action is within the bullish retracement lines - so it could turn into a good trade yet!
The one minute chart with your pitchfork on it looks pretty good and I shall certainly play around with the possibilities, but I think the difference between day trading and swing trading may turn out a factor - certainly with regard to the number of lines, tynes, etc. (The simple minded like me finds all the cross over lines on your chart a bit gruelling, if not confusing - but I am sure it wouldn't take long to get accostomed to it.
Anyway, I hope you are sailing south with the Spoos, while I trudge north with the Boos...
Bill
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