two failed DTs, followed by 2legs down to asc 21 ma.....

bobarian 

That first green arrow is a second entry long; long and a failed breakout of the EMA, because it reversed on the bar. I took that trade long.

The candle at 11:10 is another 2nd entry long I beleive. That look like it would have been the best trade of the session, because it was the start of 2 measured moves up.

After 2 weeks of getting my feet wet with the 5 min(with 21 ema), i have come up with the basic rules for my 2 entries.They are simple, and the intent is simple also...take the entries that fit the rules.Alot of this method , although based on trendlines, is centered around the 21 ema.Its time to believe in something.

2/21/2012
tuesday
4 trades cl
+10 ticks net
theme of the day:cutting all of my winners short....So, starting tomorrow, just sticking with a simple 10:10 sl/goal.Lets keep it simple, stabilize, and then go from there........Today was a very good trading day on the 5min.Multiple short entries at the 21 ema(and TL).The first trade failed, funny thing, on the cash chart, the 21 held even off the open............Here we are into our third week with the 5 min, with no changes, and no desire to make them...(on the chart),This is good...Hey, if Al brooks and PAT have this setup, and countless other traders, i guess its good enought to me.Also, im reading the candles much better, analyzing, finding pivots where selllers or buyers come in, etc.

bobarian 

2/21/2012 tuesday 4 trades cl +10 ticks net theme of the day:cutting all of my winners short....So, starting tomorrow, just sticking with a simple 10:10 sl/goal.Lets keep it simple, stabilize, and then go from there........Today was a very good trading day on the 5min.Multiple short entries at the 21 ema(and TL).The first trade failed, funny thing, on the cash chart, the 21 held even off the open............Here we are into our third week with the 5 min, with no changes, and no desire to make them...(on the chart),This is good...Hey, if Al brooks and PAT have this setup, and countless other traders, i guess its good enought to me.Also, im reading the candles much better, analyzing, finding pivots where selllers or buyers come in, etc.

Nice job Bob. Rock and Roll!

I saw that as actually 2 legs down, +1 leg down, and therefore a hard test of the EMA. If it tests 3 times, it is a stong probaility it will reverse.

Anyway, i wasnt in the position to take it.

2/22/2012
2cl trades..2 full stops
1 es be
PA was lousy today, price wedged around the 21 ema on 24 ch and cash ch...I took 2 cl trades, stopped by the tick on 1, stopped by 2 ticks on another.I think the lines in the sand were mushy, and i did realize this.The news came out, and we were still lethargic.No big deal.Both cl trades went on to work, just after they got me.Thats the breaks.charts soon

2/22/2012
i watched the video, and learned a few things.The most important, is when the the mas on the 2 charts are wedged closely like that, expect a rangy session, until it breaks out.Now, if its just a range, play the highs and lows(or not at all)If there is a TL, like today on the line charts, buy on the TL(or not at all)The typical A and B trades were mushy today, and the 21 ema area on both charts was generally unreliable.

2/23/2012
thursday
1 cl
3 es
2 ym trades
got home after cl open, and didnt trade it until after cl report.The es and ym trades are just on the periphery of the TLs and ranges.Basically, areas that should have liquidity.Adifferent, slower type of trading than the cl.Ended up the day +$2.50 net..beats having red.With the es, we just need to make sure the TLs are the correct ones.

2/24/2012
friday3 cl trades +19 ticks
1 es trade be
+$192 net
toobad for the es trade, but i exited just before the housing report, as i try to be flat durinf the news.Had the kids home all week, so , focus wasnt 100%.Either way, ended on a good note.Now, i will go over all the videos for the week, as a recap..

bobarian 

2/24/2012 friday3 cl trades +19 ticks 1 es trade be +$192 net ..

Nice job on the CL trades. Any day you are positive is a good day in my opinion.