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You have to survive

You have to survive
Every day is a battle, survival is rule #1

Tuesday, June 28, 2011

The hourly short i was waiting on before today never made a close below its S/R line and instead reversed back up strongly.  Thats why i wait for a close past the line first.

Today, i found another nice 5 min move that i would have gotten into if i didn't have to sleep.  This one is extra interesting to me because it would require the pullback/crossover entry at 20 EMA.  This is a good example of when i would actually use this set-up.  I would use it when the "breakout" price move is so strong, it goes vertical quickly which would make it overextended/overbought in the short term.  I would have entered here right after the stochastics crossed while sitting on the 20 EMA.

There is also an hourly entry at 1288 that i would enter.  This would be a normal entry set-up since it wasn't so vertical and looks more like a steady 45 degree climb on the hourly chart.


Market is still thinking about where to go on the daily chart...

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