It was an interesting day of emini trading, I had one big loser, and one small loser and 3 nice trades. I chickened out on one trade as the market started to move against my position, I just felt uncomfortable riding the trade so I bailed.
Well today we’re going to be talking about selling rallies. Now what
does it mean when people say, “sell the rally” when you want to
get into a trade? Or they sell a pull back? Or you hear things like,
“The Trend Is Your Friend?”
ES Emini Pivots for July 20, 2009
The indicator generally is used to in determining whether a commodity is overbought or oversold, which is indicated by reading above or below the 100 and -100 lines. The general thinking is that when the indicator is over the 100 line, for example, the price will correct to more normal levels between the 100 lines.
This program is one of the finest on the internet and costs a fraction of what some of the famous programs charge. It’s better too, as it comes in both article and video format so the concepts are fully explained. Even after years of trading I pick up new ideas on a regular basis. It’s an important part of my trading program.
It’s what you don’t know that hurts you, and there is a load of information to be gleaned from this informative source.
The real question is whether Fibonacci retracements are a valid tool in trading emini contracts. There has been a great deal of debate over this issue when Fibonacci systems began making their way into technical analysis in the early to mid 1990′s.
I wish there were some mechanism to thwart the obvious manipulation of oil prices in the US, short of nationalization (which is, in my opinion, unthinkable). But trusting our oil supply to the likes of Exxon Mobil, Saudi Arabia and the cabal at OPEC is akin to trusting organized pirates, which they are.
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