06/22/2015 Live Update

[Unique]

CL Update:

58.99 Short Trigger, target 58.00, risk $0.50 for $1.00
$58 = back to bottom of the larger channel swing

Also, possible double bottom sticksave BUY. Same risk $0.50 for $1 ratio it looks like.
Need to see 5m/15m price reversal for the BULL buy confirmation

Previous update: viewtopic.php?f=2&t=1706&p=194126#p194126

[Unique]

You are very advance on your chart reading. Most TA books are either too basic or too much of none sense mathematic. I have no yet find a good book that I want to recommend.

I agree. I have never seen a decent book on daytrading. Everyone's approach is far too individualized.

Thanks for the feedback, hmmm is there any trading book that made you think "woah/wow" or you've deeply remembered its important lessons?

Sorry for so many posts today, just curious how do you guys figure out how to efficiently improve your profit factor consistently?
Through reviewing logs of past trades and analyzing? Working to become more efficient this year. Thx

[cletus]

A major market explosion has left bears thinking today "What did I miss? Why did I get it so wrong? Shall I turn bull or return to my job at the post office?"

[Unique]

Tsla Update:

Key time bears, you must reject here at 2nd try 5m 20ema, or it's over.
All high probability bear trades would be gone after bulls decisively close above 5m 20ema.
The dream scenario is bulls get back to 264 by today's closing....and we have a fun buy trigger coming up for lemon squeeze up
I believe

Bulls immediate target = 260.5 and retake 260.8 (breakdown resistance) ->262->264

[Cobra]

possible 3 push up but overall today seems a strong uptrend day.

[uempel]

Paging the seasoned traders here (Cobra, fehro, Bullbear52x, AL_dente,Out of Bounds, uempel...etc )

What books do you guys recommend in categories such as trading price action, trading psychology, chart reading etc. Many thanks

Long term investing or day trading?

Unique, check out Brett Steenbarger's trading psychology books. Quite interesting and helpful.

[BullBear52x]

You are very advance on your chart reading. Most TA books are either too basic or too much of none sense mathematic. I have no yet find a good book that I want to recommend.

I agree. I have never seen a decent book on daytrading. Everyone's approach is far too individualized.

Thanks for the feedback, hmmm is there any trading book that made you think "woah/wow" or you've deeply remembered its important lessons?

Sorry for so many posts today, just curious how do you guys figure out how to efficiently improve your profit factor consistently?
Through reviewing logs of past trades and analyzing? Working to become more efficient this year. Thx

I stick to "plan your trade and trade your plan". I will find the stop before my entry and obey it. Simple rule improve efficiency. Cut lost with no but or is. Wish you were in is better than wish you were out. No luv with any stock,No luv.

[finman66]

Final upside p-bar on SPY tagged at $212.51 .............. QQQ p-bars fulfilled at the open

[Unique]

NQ, TF futures at all time highs breakout hourly.
ES not yet, current price 2120.5, need to get above 2125 (with adjustment) or 2134 (without adjusting Sept contract chart) for breakout.

For context, weekly 100% measure move ES breakout is at 2180-2181. 61.8% fib of that is 2158

[uempel]

DAX weekly stochastics suggest the European markets have some nice upside ....

[Unique]

Thanks for the book recommendation uempel

Bullbear52x, that's a great simple strategy and I do something very similar
- I try to do automatic bracket order (stop vs profit limit) once the entry order is filled,
trading then becomes very "mechanical" and suppresses out your emotional+greedy side.
Thx for sharing everyone

[Cobra]

it is 3 push up. hopefully there still is another push up before bigger pullback.

[Unique]

GOOGL Update:

15m Bull pennant, held 15m 8ema.
Impressive bulls, waiting for ignition bar for leg 2 up today. Then, 577 for rest of the week
568 target could be easily reached by today's close, let's see how volume returns after lunch first

[Out of Bounds]

Thanks for the feedback, hmmm is there any trading book that made you think "woah/wow" or you've deeply remembered its important lessons?

Have you gone through all the information that Cobra has? It really is a whole encyclopedia of approaches and you could spend weeks studying them. Beats any book I have ever seen. I don't know how he keeps it all straight, I suspect he has a huge amount of discipline.

[jway888]

Thanks for the feedback, hmmm is there any trading book that made you think "woah/wow" or you've deeply remembered its important lessons?

Have you gone through all the information that Cobra has? It really is a whole encyclopedia of approaches and you could spend weeks studying them. Beats any book I have ever seen. I don't know how he keeps it all straight, I suspect he has a huge amount of discipline.

Have you noticed the special crown on a Monkey's God forehead. It is served for the purpose of preventing wrong doing. Cobra has it, and he has two of them. One on the forehead, the other one at the bottom part.

[BullBear52x]

The next buy wave I want to see new HOD.

[Cobra]

members only update at 12:10 pm
http://www.cobrasmarketview.com/2015/06 ... ay-update/

[Cobra]

not good, this bear shall have small legs at least.

[uempel]

[uempel]

That DAX chart was for you, Daxer