10-31-2013

Pre-Trading Notes:

1.  Expand your horizon, look for the big overall trend.

Post Trading Notes:

1.  Ice burgs are really interesting.  (They are a signal from Jigsaw you can have signaled on your charts)  If you get one on the bid side when you are looking to take a 2nd entry long then it seems like that is another really strong indicator you should take the trade.  It doesn't look like they are too strong by themselves outside of a S/R or a trend line.
2.  The pHOD,pLOD, pOPEN and pCLOSE worked out beautifully today.  So thank you Richard and Welly for that advice to put them on my charts.  I didn't have the same problem yesterday of wondering where the support and resistance areas were.
3.  I still think I struggled down at the pLOD b/c I was taking too many longs.  I think I needed to look for some shorts off of the EMA until the fake breakout occurred.
4.  Tons of trades today but the pre drawn lines I mentioned in #2 made it so much easier.  I still struggle with what to do when a trend gets to a support or resistance area.
5.  Mack's lines for S/R are pretty much the exact same with the pre drawn lines recommend by Richard and Welly....wow!  That makes it so much easier!

Mack's Notes:

1.  When you are trying to sell resistance you are counting off of the highs.  When you are trying to buy support you are buying off of the lows.
2.  If you are reading PA correctly then you will rarely be on the wrong side of a trade.
3.  You are looking for long traps in a downtrend to go short.
4.  You are looking for short traps in an uptrend to go long.
5.  Do not counter-trend trade.

Trades:

1.  8:30 - 2nd entry long off of EMA and measured move of the trend line moved over.
2.  8:45 - 2nd entry short off of the upper trend line and the pClose.  A counter trend trade which is usually never a good idea.
3.  8:47 - Double top with an iceberg order against the upper trend line.
4.  8:52 - Two iceberg signals hit at the lower trend line.  Guess I should wait for those 2nd entries.
5.  8:56 - Failed 2nd entry long
6.  9:10 - Trap bar at the pLod.
7.  9:13 - 2nd entry long off of the pLod
8.  9:32 - 2nd entry long off of the lower trend line.
9.  9:41 - 2nd entry long off of the fake breakout of the pLod and maybe the bottom of a trend line.  Got out at what might be the top of the trend line, not sure at the moment.  (Nope, was a made up trendline I made.  I deleted it)
10.  11:07 - 2nd entry long off of the EMA and lower trend line
11.  11:49 - 2nd entry short off of the upper trend line and the pClose.  Also had an ice burg on the offer.  Got out at the EMA when an ice burg signaled at the bid.
12.  12:40 - 2nd entry short off of the pClose.  Guess I shouldn't have taken it b/c it was still in a trend and above the EMA.
13.  2:06 - Failed 2nd entry long