Chaos Clinic Recap
Here are Al's comments
1:05 That is what I'm going to do now. Officially passing on the second trade. Done for the day and week.
Thanks for coming. See you next week. Take a course.
1:01 One of the hardest things to learn is to not trade dull markets. If one stares at the screen enough, one will
get jumpy, and jump into a trade on a little blip that does not follow through. The best thing to do is to walk
away and wait for a better day.
12:55 looking at the EXMAs, the 20 has crossed the 110 twice, with not much juice either side of it.
This is the "trading both sides" condition signaling a congestion.
12:52 early tracked the red -Tide, now tracing the green +Tide, so Tides are mixed
12:45 3 swings, each about half of the prior; volatility is dropping; we need volatility for good trades
12:42 if you look at the Wheel of Fortune, you see we are tradinga t the bottom of the wheel, where 1278=270 degrees.
this is a natural balance point.
12:40 I have placed a Face of God chart in the Certified Chaos Trader's Room. That room is open
to graduates of my 4 main courses. See http://moneytide.com -> Courses for details.
12:30 on the S&P Tide Tracker chart, linked on right side of ListOfCharts page, can see the +Tide and -Tide lines
forming a MoonTide fractal set. This one look much like a mandelbrot fractal set.
12:23 I'm back; looking at the SPTideTracker chart, it looks like getting a balance between the green +Tide and the red -Tide; watch for a while
11:43 taking a breakfast break; the next Trade time is 12:21; the first one came late, so I expect the second one will as well.
The Tides go flat, so it may not be a good trade
11:42 I'm thankful to get that; trades have been tough this week
11:38 covered 1281 for +3.5 ; covered because it stalled at +9 off the low
11:34 stop 1280
11:30 struggling a bit; stop to 1279.5 ; lock 2
11:23 got 20 x 110; 440 at 1283.64
11:21 stop 1279, lock 1.5
11:11 stop to 1278, lock .5
11:08 my cover target is at 77.5 +5=1282.5 ; reasonable chance or hittin the 440 EXMA near 1284
11:07 stop to 1277
11:03 stop to 1276
11:00 I saw the 20 EXMA curling up, and pressed my entry becasue I wanted no more than 3 points of risk, and wanted my stop .5 under last minor low
now have the actual 20 X 55
10:55 pressing a bit, bought 1277.5 stop 1274.5
10:49 20 EXMA up, watching for a cross of the 55
10:37 this is a case where the 55 minute EXMA can be used instead of the 110 EXMA
10:34 looks like it is bottoming-big up bar with not much decline-a small flag
10:31 still tracking red -Tide
10:27 now geting a bounce
10:21 not getting it-missed a decent continuation sell - won't chase it
10:18 passed the Tide time, watching for an up turn
10:13 made it down to the Moon flux
10:09 broke it marginally
10:07 testing low
10:03 20 EXMA turned back down a bit - support below near 1275.5 on the Moon +T090 flux
9:58 the 20 EXMA has turned up, the 110 is still down
9:50 on the SPSunMoonMer chart see we got support near the Mercury +M000 electric field flux
Low so far was near the Moon T270 timeline.
9:40 on the MTRainbow chart we have a divergenge that is well along. I'm going to wait and see how we come out of this Tide time
9:31 opening with a decline as per red -Tide
Trade timed 10:16 and 12:21
9:00 Good morning from Chaos Manor
Besides the comments made by Al, the chat room is has live
comments from other traders who sometimes share their views,
trades and tips. Below are the chat room comments from this clinic
1/13/2012 8:32:37 AM MT AG:: Also, looking at the chart one can definitely argue that 1277 is enough to fill it.
1/13/2012 8:30:50 AM MT AG:: TG, I drew my gap fill at the high of that day at 1277. That's the difference. I'm usually conservative on gap fills.
1/13/2012 8:18:58 AM MT mm****:: waiting for downgrading of France, etc. - can happen any time
1/13/2012 8:18:56 AM MT Tg****:: AG, re: the large gap, looks like the close on the 9th was 75.5.
1/13/2012 7:59:01 AM MT Al****:: GM all-good luck toay
1/13/2012 7:00:11 AM MT AG:: Maybe 1277 will get filled today ;)
1/13/2012 5:26:28 AM MT mm****:: gm all - have a great day
9:00 Eastern-System: No comments
[ Live Clinics on Friday on DaytradingForecasts.com ]