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In regards to outside days, I've noticed an even better setup is the
breakout of inside day AFTER an outside day. They don't happen very
often, but when they do they're very reliable. The last one we had in
the YM (which is my primary market of choice) was February 21 and
resulted in a large move to lower prices.
On an unrelated matter, I've been looking at some daily Trin setups:
http://www.tradingmarkets.com/.site/stocks/commentary/editorial/TRIN.cfm
I rely on Trin quite heavily for my intraday trading, but never looked
at it seriously for daily timeframe swing trading setups. This Connors
approach seems to hold good promise.
Attached is a Tradestation chart showing two slightly different long
entry and exit strategies based on this article (green is long entry -
yellow is long exit - there are no short setups using either strategy
- the red line is a 200 day SMA). Both strategies are currently long.
Also keep in mind that there is a full moon occurring on Monday. Daily
timeframe short term highs or lows seem to regularly occur within a
one day window on either side of full moon days.
Regards,
Bob Hunt
E-Mail: RHunt@xxxxxxxxxxxxxxxxxx
Web Site: http://www.PatternTrapper.com
Phone: 952-892-5550
On Saturday, March 31, 2007, 1:48:01 PM, you wrote:
PL> Good question. Friday was an outside day. If we make a
PL> higher high or a lower low then we stand a good chance of
PL> continuing on in that direction (see attached chart).
PL> From: Ben <profitok@xxxxxxxxxxxxx>
PL> Reply-To: realtraders@xxxxxxxxxxxxxxx
PL> To: realtraders@xxxxxxxxxxxxxxx
PL> Subject: Re: [RT] Recrossed down
PL> Date: Sat, 31 Mar 2007 01:49:54 -0500
PL> we most likely have a reliefe rally for the tention in Iran
PL> question is
PL> is it a one day affair or not?
PL> ----- Original Message -----
PL> From:Pete Lieber
PL> To:realtraders@xxxxxxxxxxxxxxx
PL> Sent: Saturday, March 31, 2007 12:28 PM
PL> Subject: RE: [RT] Recrossed down
PL> The closest way that I track the small caps is by following
PL> the OBV on the NASDAQ. The attached chart tends to agree with
PL> your analysis - NASDAQ volume ended strong on Friday indicating a
PL> stong day Monday morning.
PL> From: "Mark Simms" <marksimms@xxxxxxxxxxx>
PL> Reply-To: realtraders@xxxxxxxxxxxxxxx
PL> To: <realtraders@xxxxxxxxxxxxxxx>
PL> Subject: RE: [RT] Recrossed down
PL> Date: Sat, 31 Mar 2007 11:35:47 -0400
PL> Interesting, and although it's not the same as "your" volume indicator,
PL> OBV has been very strong on the small caps with the proxy used as the etf "IWM".
PL> The small caps took quite a hit in the Yen carry-trade event
PL> as they are quite interest rate sensitive.
PL> Now It appears there are big bets going off that rates will be stable and NOT go up much.
PL>
PL> From: realtraders@xxxxxxxxxxxxxxx
PL> [mailto:realtraders@xxxxxxxxxxxxxxx] On Behalf Of Pete Lieber
PL> Sent: Saturday, March 31, 2007 2:12 AM
PL> To: realtraders@xxxxxxxxxxxxxxx
PL> Subject: RE: [RT] Recrossed down
PL> Hmmm, I recrossed up - for Thursday I had negative divergence
PL> in my volume indicator and today I ended with positive divergence
PL> (see attached chart), so I am expecting at least an up half-day
PL> Monday. But over the past two days the volume indicator has not
PL> bounced up as well as the market indicating further weakness lies
PL> ahead.
PL>
PL>
PL> Pete
PL> No virus found in this incoming message.
PL> Checked by AVG Free Edition.
PL> Version: 7.5.446 / Virus Database: 268.18.23/740 - Release Date: 3/30/2007 1:15 PM
PL>
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