This was a momentum market this morning and simply picture perfect from beginning to end. The Russell opened higher than yesterday's close but failed to take out the 780.00 resistance area. The market then moved to below the low of yesterday and followed that up by making another attempt to reach 780.00.
First trade of the morning was a short reversal at 6:45 at 777.9 for +4.9. Second trade of the morning was a long reversal at 7:10 at 772.6 for +4.0. You don't get much better than that.
Net for the morning: +8.9
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Mentoring: The Key to Developing as a Trader
4 days ago
2 comments:
Hi Tedders,
Couple of questions:
1) What tools/indicators are you using to generate these charts that you are posting?
2) What was your signal to go short, and then to go long ?
phileo,
Thanks for the comment!
I'm using three indicators (2 proprietary and 1 free). The Jurik RSX available at www.jurikresearch.com, the VSTscalp reversal available at www.viperspeedtrader.com and finally the Dynamic Resistance S/R available for free at www.kreslik.com (under motherload downloads).
A long signal would occur when the RSX is oversold or close to over sold (less than 35), the bars have turned green (from magenta) and the VST scalp stops producing blue dots on the bottom of the ocillator. I talk about this in detail in some of my previous threads (go back to January).
Hope that helps!
Tedders
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