Thursday, January 04, 2007

Follow up

Finally I get them again. I see them and I can trust them. There is a reason for a bounce, there is a good probability of the bounce working, what else can you ask for when looking for an entry signal


They won’t run that good every time, but this one is sure a beauty. Break down, holding the daily low, rejected from the POC (red line), higher low, forming a reversal signal on the CCI, breaking through the POC, swinging back into the POC and forming a lovely sling long on the CCI, while at the same time the POC provides the Support level I need to have nearby, so I can place a narrow stop.

I never could trade with volume on my charts, but seeing volume at individual pricelevels makes sure sense, as it tells me where the market thinks a contract is in balance. Funny thing is, I added this information on my trading platform a year ago, but could not understand/use it for my trading and removed it from my layout. Now I’m back at it with less cluttered charts. And having less on the charts, while still seeing the setups usually is a good indication that I’m on the right way.