Archive for January 9th, 2007

1-9-2007 Daily Trading Lesson

A Couple Juicy 610t-Trend Plays

I waited all day, and these were the 2 plays that appeared on the 610-tick chart. Both were very similar but only one of them turned profitable. Lucky it was a big enough profit to make up for the first play’s loss.

The 3 converging factors that both plays shared was:

1.) 610-tick TRIX Divergence +
2.) + Trendline Cross
3.) 2-minute TRIX Divergence

I felt a little uneasy about the first long entry as price had just blown right through the FFF level at 776.00. This should have been reason enough for me not to take the next + trendline break but I tried for it anyway and got stopped out for -1 R-Unit.

The next one though, set up much prettier on both the 610t & 2-minute charts. I went long at 775.10 and exited for a 1.80 R-Unit gain an hour later at 777.80

So overall, a very respectable day for only 2 trades.

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