stretch 31st


  • 2
  • Silverharp
  • 31-May-2011 at 3:43 AM
  • Rep: 700
  • Posts: 128
Short here on EURUSD , 3 points away from the 485 of stretch (the number seems to have compressed recently). DOw is at weekly pivot R1 and stretch 261. I'll treat it as a retracement trade for now, bears no taking advantage of their chance last week


Click image for original size
31stmay stretch1
  • 0
  • Silverharp
  • 31-May-2011 at 6:50 AM
  • Rep: 700
  • Posts: 128
Went up higher then I thought but stayed in the trade as there was a nice little 3 up that looked due for a pullback , closed at Weekly R1 at the 90 level , hard work though , I guess strong moves dont give up so easy. Will have a look at things again during the US session.
  • 0
  • Silverharp
  • 31-May-2011 at 10:50 AM
  • Rep: 700
  • Posts: 128
might be some intraday high in Oil

Click image for original size
cl
  • 0
  • Silverharp
  • 31-May-2011 at 11:44 AM
  • Rep: 700
  • Posts: 128
closed the above trade at 102.30 there was a 38% retracement at .20 , as I didnt catch the top , exit is safer
  • 0
  • grednfer
  • 31-May-2011 at 4:29 PM
  • Rep: 925
  • Posts: 139
The stretch had a very good day.......Its very accurate at trading a trend.......now we need to figure out if it can see a turn.

5 Consecutive closes up......

NQ was on fire!



I'm surprised more folks haven't heard of this.
  • 0
  • Silverharp
  • 31-May-2011 at 5:34 PM
  • Rep: 700
  • Posts: 128
how do you mean trading a trend? , are you talking intraday?
the odd thing today was that dow didnt turn at the numbers but ES did (at the start of US session) , likewise oil did so did gold but silver didnt.
Was wondring would holiday in US throw out the numbers but seems ok I guess
  • 0
  • grednfer
  • 31-May-2011 at 6:54 PM
  • Rep: 925
  • Posts: 139
I would classify 5 daily closes up as an up trend.....
YM kissed the high stretch perfectly.....

Check it out soulman

If there is retracement to the high stretch in an uptrend that is a buy.....textbook crabel trade. I'm laughing....everyone I talk to either has never heard of this or they just scoff at it......


ES did too (even 1 point below)

NQ never made it back but it retraced to level 2(your 1.61 level), then went up like 30 points!

I was initially unsure if yesterday counted as a close but it did.


Click image for original size
ym0531
  • 0
  • Silverharp
  • 31-May-2011 at 7:14 PM
  • Rep: 700
  • Posts: 128
good to know I was unsure of the Holdiay effect! we are good to go for tomorrow, will add NQ to the list to watch!
  • 0
  • grednfer
  • 31-May-2011 at 7:34 PM
  • Rep: 925
  • Posts: 139
Ya know ..... another technique would be to stay long from the beginning of the trend...higher close up.....and just keep moving your stop under the current LOWER stretch......That would have worked so far........
  • 0
  • Hunter
  • 1-Jun-2011 at 12:14 AM
  • Rep: 1,431
  • Posts: 247
The YMM1 price measurement reversed at 4.25% of the Stretch, basis trading from unchanged. Today was a great trading environment.Holiday trading tends to produce rallies.

Mt. Hood skiing was AWESOME. The mountain was empty with fresh snow.

Thanks for your posts.
Emini Day Trading / Daily Notes / Forecast / Economic Events / Search / Terms and Conditions / Disclaimer / Books / Online Books / Site Map / Contact / Privacy Policy / Links / About / Day Trading Forum / Investment Calculators / Pivot Point Calculator / Market Profile Generator / Fibonacci Calculator / Mailing List / Advertise Here / Articles / Financial Terms / Brokers / Software / Holidays / Stock Split Calendar / Mortgage Calculator / Donate

Copyright © 2004-2023, MyPivots. All rights reserved.