Wednesday, May 14, 2008

naz selloff clues from wed pm

someone asked me to post what i saw on sale of naz yesterday.there were like 3 things that set up clues for me
1. the first chart is 1 min adv/dec on nyse .. it was trending down since 12 cst. this was a big hint that something was rotten in denmark
2. second chart adv dec line 3 min, the trend in tick chart was also down, see the trend lines above and below highs and lows
3. chart 3 is 5 min naz day session,the RGR turned red on 5 min,
this was the SETUP for me.....
TRIGGER : the retest up to the ema and i sold on stop entry below at the 2nd orange bar(( trigger for setup was sell stop at 25 the low of that bar ..... once filled stop was above that 5 min bar risking 3.25 pts).
This trade I only got 6 pts but was able to sell flag again lower for another 8 on small flag 5 min basis . flag and grail is my basic jab and straight.


hope that helps
mindful :->





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