Trading to win using the Secret Code of the Illuminati

Tag archive for ‘retracement’

Visionary Eyes

Visionary Eyes

The Illusionary Trader lacks perspective. ————– Spellbound by our favorite indicators, wave counts, quants with their math, and most of us with subjective patterns, we are all eager to share our vision of every little wiggle of the day. Kudos to those who can do that successfully and type their++ results within a nano second […]

As Luck Would Have it…

As Luck Would Have it…

Gee Whiz. ———- As luck would have it, timing is everything. Did you ever get a feeling that an obnoxious move like late yesterday needed correcting, but we wouldn’t be around to take advantage of it? ———– The open, as usual, involves jabbing and probing. I liked range trading for the morning, and expected a […]

Emini Showtime

Emini Showtime

The game continues. Last night’s post mentioned it’s showtime. Beetlejuice loves to work his magic. The most challenging trade of all for most traders is to see a higher high made and short it, or obviously the counter part of that thought. The HH 123 serves several purposes for the Boyz: It cleans out the […]

Swing Hi, Swing Low, Sweet Chariot

Swing Hi, Swing Low, Sweet Chariot

  The pre market nonsense was a great opportunity to get short and play the expected retracement day. One of our methodologies is to look for short term overbought conditions and then establish a short position for the day as we look for a test of the standard Fibonacci area, along with our secret code […]

First things first

Determining the correct bias for the day is all important for the day trader. Are we buying pullbacks long or are we shorting the bounces? What do you use to help you determine the answer to this question? There are many techniques available to us, and we need to use something simple, reliable, and consistent. My […]

Zoned out

Zoned out

I was visiting DTI for a free seminar awhile ago and Tom Busby gave me this great idea for alert zones. These are his support and resistance areas on any particular day. You will notice yesterday’s post had a red box and I used that to identify a key area where I thought a resistance/possible […]

It’s showtime !

It’s showtime !

  Punch drunk and reeling, the bulls got up off the canvas and delivered an uppercut of their own today. The approximate 1290 to 1230 range had a pullback today to the middle area (1260 +/- for any math challeged traders). As Betelgeuse would say:”It’s showtime!” One of the most important pieces of the puzzle is never […]

Fire works

Fire works

Friends emailed me their thoughts premarket, both theirs and some “gurus” they follow. 1295! 1288! 1303! 1305! They were sure fired up about our promising bounce. The higher numbers were suggested by their gurus as where we were headed today. I wondered what charts they were looking at. The 1252 was a lower low and the […]

Friday the 13th

As is normal in the summer, the boys left early for their life of leisure near the shore. Volume was light, and the tick charts showed that they were not particularly active. Their game plan, however, was easy to anticipate. Get it done early, buy it on the pullback. There has been a 30 point bounce […]