I missed the short XLE trade!!!! What would you suggest on when
to get back in to this trade to members that miss the short XLE? On
bounce to the 9ema to start shorting again
cuqui69- I was
hoping more of you would have taken note of the bearish patterns on
XLE and OIH we were pointed out last week and on the weekend and on
Monday, or bought some ERY because that sector looked like an easy
short vs waiting for a system.
Otherwise if you were not in it, I'd avoid chasing it now -
looks bounce to a resistance level or allow the indicators to get
overbought on time frames that you are monitoring such as 60 min
charts etc
again without knowing what kind of trader you are and experience
it's hard to suggest exact triggers for you at this time.
there was a slight chance for that, but sectors can break down
before the market, like the RUT and Semis did. Also XLE started to
break a trendline on Tues, also I pointed on on Monday the low risk
short on XLE based on the BPENER kissing the underside of the 9
EMA. Remember one can also scale into trades, here's that video
from Tues where I discussed the BPENER testing the underside of the
9 EMA as a lower risk short
anyway that is what makes a market and what makes trading
difficult, the emotions and possibilities and there are many ways
to trade a market depending on ones time frame and objectives.
Anyway don't worry about missing a trade, there will always be
new trades, I am far from perfect and miss a lot of trades that I
should catch.
XLE system missed the trade
Posted by cuqui69 on 5th of Apr 2013 at 10:33 am
I missed the short XLE trade!!!! What would you suggest on when to get back in to this trade to members that miss the short XLE? On bounce to the 9ema to start shorting again
cuqui69- I was hoping more of
Posted by matt on 5th of Apr 2013 at 10:46 am
cuqui69- I was hoping more of you would have taken note of the bearish patterns on XLE and OIH we were pointed out last week and on the weekend and on Monday, or bought some ERY because that sector looked like an easy short vs waiting for a system.
Otherwise if you were not in it, I'd avoid chasing it now - looks bounce to a resistance level or allow the indicators to get overbought on time frames that you are monitoring such as 60 min charts etc
again without knowing what kind of trader you are and experience it's hard to suggest exact triggers for you at this time.
the reason i did not
Posted by cuqui69 on 5th of Apr 2013 at 10:51 am
the reason i did not take it is because we could have had one more push higher!
there was a slight chance
Posted by matt on 5th of Apr 2013 at 10:56 am
there was a slight chance for that, but sectors can break down before the market, like the RUT and Semis did. Also XLE started to break a trendline on Tues, also I pointed on on Monday the low risk short on XLE based on the BPENER kissing the underside of the 9 EMA. Remember one can also scale into trades, here's that video from Tues where I discussed the BPENER testing the underside of the 9 EMA as a lower risk short
http://breakpointtrades.com/jing/2013-04-02_1024.swf
anyway that is what makes a market and what makes trading difficult, the emotions and possibilities and there are many ways to trade a market depending on ones time frame and objectives.
Anyway don't worry about missing a trade, there will always be new trades, I am far from perfect and miss a lot of trades that I should catch.
Matt I will do this
Posted by cuqui69 on 5th of Apr 2013 at 11:01 am
Matt I will do this next time. Anyhow is there a short term bounce probably i will scale into it
cuqui69...please don't try to time
Posted by steve on 5th of Apr 2013 at 10:55 am
cuqui69...please don't try to time exact tops. Consider scaling into such positions. Does that make sense?
OK steve! thanks
Posted by cuqui69 on 5th of Apr 2013 at 11:00 am
OK steve! thanks