The trendchannel on my 6765 tick NQ chart seems like its made of concrete lately . Its as though price cant break it . With that said tonite price will shatter it but good .
I went short at the trendchannel top / major resistance and grabbed +12.75 NQ pts . When the volume died off before the news I just followed along on the 377 tick and was able to point out a few good scalps . I didnt trade them , just pointed them out .
I went short with 1 car to test out the Vwap 2nd SD sell theory . It stopped out BUT I did learn a little something about how the standard deviation lines work .
They change dynamically in such a way that its impossible to project the correct stop . In fact its impossible to enter at the right point . No problem , I still see big things for the Vwap . Notice how on this static chart it appears that entering at the 2nd SD line and setting the stop outside the 3rd SD line SHOULD get you a profitable ride back to the Vwap.....right ?
Todays total is + 10 NQ pts.
The following user says Thank You to Eric j for this post:
My journal is in the VIP as of today . I feel that contributing to futures.io (formerly BMT) is important because this is a unique forum and worth supporting .
If you have ever been active in any of the trading forums out there you may know what I mean . Clowning around is pervasive online and a forum where members are commited to their craft is important to me .