In this video, I go over the opening half-hour or so on my PnF chart and an 89-Tick chart. It was a dramatic opening with a big gap. That usually leads to great opportunities to profit from suckers who try to catch the bottom. That’s the way I play them, anyway…
Enjoy!
You may have been curious about my most recent scalping charts… they were awfully busy-looking. Like I said in the older post, and to my friends in the eotpro live room, I always clean up a chart that looks like it has potential. Now, it looks like this:
… what a clean chart! [...]
In the eotpro live room we jokingly call this the “R. T.” chart pattern. As I’ve mentioned before, if I could go back in time and teach myself just one chart pattern, this would be it.
To recap:
You take a strong S/R like our EOTPro Alla’s Average.
You wait for price to break through it.
You wait [...]
I personally love to daytrade the e-minis, and we show off e-mini daytrading in the eotpro.com live room every day. That’s why I have been trying to focus on stocks here at the blog lately: to make sure people understand that our indicators work great on them, too!
As most of you know, I [...]
As usual, I went with whatever the top stock on stocktwits happened to be. Today, it was UltraShort FTSE/Xinhua China 25 Proshares (NYSE: FXP). I’d rather have real companies rather than all these ETFs, but whatever… you deal with what you’re given.
I mark four trades on this chart, and my mechanical entry finder [...]
Today the top stock on StockTwits was Google Inc. (Nasdaq: GOOG). The simple system produced 2 trades, both long. The first would be a small loss, and the second ran like crazy. I don’t have time at the moment to go over all the rules, but basically I am showing how [...]
Normally I’m not near my platform after the markets close, but we are hosting a post-market ninjatrader webinar today. Check out this signal on my trading chart, which showed up at 4PM Central time (I drew a yellow arrow, but the signal was mechanically chosen in the dot in the bottom of subgraph):
geez…. [...]
See how price pushes up through Alla’s Average, then comes down to meet it, and then runs? That is the chart pattern I talk about over and over. If I could go back in time and teach myself just one chart pattern, that would be it!
Note, too, how during the short consolidation (blue [...]
As usual, I looked up the top stock on stocktwits. I can’t say I was surprised that General Motors Corporation (NYSE: GM) showed up as most-discussed. As often happens, GM was doing a lot more volume than its average, so I got more volume bars than I would generally want. Still, [...]
Reader John gave me a tough one today to feature: Goldman Sachs Group Inc. (NYSE: GS). The action was pretty sideways/countertrend all day, except for the morning drop down. The mechanical entries I’ve been using to show off the system performed pretty well. I’ll talk about two ways I’d trade differently [...]