Tony was just talking about "predictions" and Targets.... the thing is you are still playing risk management. and Trust me, I am Lucid to the fact that as far as exact numbers, I miss all the time.... But the trick is to know that the Swing is ending, and a new one is starting....
I don't know how long it will be. but I see the change in Character and trade accordingly..
so we are coming to my 91 target... but I'm not waiting till 91 to exit my longs.... what I'm doing is getting out of most, and not starting any new ones. and I'll tend to be FLAT!!! and looking for the Reversal. You arn't going to hit the top tick!! the point is to get "Much of" the move.
Always know... that you just can't hit it perfectly... stop trying... take what you get, and don't lose.
so here we are.. and there may be a chance of a Double top, but I doubt it... but one more move up and I'll look for an entry... if something else happens, I'll wait for a different entry...
Tuesday, July 14, 2009
Predictions
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3 comments:
Yup. Sounds about right. I typically don't trade indices, but I see where you are going... game theory and all.
When you say another move up and look for an entry: you mean "short" entry, correct?
Of course, as T.Lo said over weekend, this could still be a abc and thus move higher. It'a all about contingencies.
I'm truly not trying to dry hump any trades, I'm just picking your brain on pattern recognition.
short but only for an intraday scalp. if it goes well... then maybe leave a small amount on the table.
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