Wednesday 12-19-07

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Originally posted by gio5959

nice trade bruce...can you briefly explain why you got long at 62.50? thx

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quote:

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If I use the ES 10k chart I go to edit studies and change the default to triple which would be 9 30 9

I make sure that if I take a 'long' trade that the CO is above it's zero line and vis a vis for a 'short'

This is what I did yesterday;

After price made a structure high I then waited for a structure low...I then anchored the linear regression tool to the msh and msl...that gave me a 'good' place to think about going long...as you can see that at approx 13:08 price broke through the upper linear regression channel and the CO also broke through the zero line...the CO also provided divergence to price...(as you can see I had to wait a long time for the CO to cross it's zero line to take the trade but it was well worth the wait cause I bet the poop out of that trade) :)

The other blue and red lines on the chart are the ChandelierExit EFS...I use that EFS script because it's based on ATR...It also told me that price was now trading above it's ATR and furthered my odds of a good trade

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