Thursday, August 4, 2011

BOTTASTIC DAY 3

Had the BOT ranges, saw the move confirmed in the markets, enter, wait for the target.


It sounds repetitive, almost "tell me something new!" when we repeat the daily action.  It is part of the reason the blogs will be spread out; skip a day, skip a few days.  The information does not change, we just change the reporting.

We are also moving toward expanding the BOTs  beyond futures.  There is a larger market looking for clues to trading other financial instruments.  That expansion takes time, and research.  So we continue what works, and devote time toward expanding.

I like trading the pre open and open range, and there will always be days where trading is best after 10 AM or in the afternoon.  Whatever the case,  we will continue to focus here, in the webinars, and in the chat on the earlier trading zone.  It is always good to see the trade day targets hit, and have some free time, if desired, for the balance of the day.   This will fit with the expansion focus as well.

Hopefully, the days of watching the market all day, chatting all day, are behind us.  At least until the markets change...

A super big THANK YOU to all that have supported this blog, the webinars, and have shared information in the chat room.



TODAY:

The first SB BO had a target of +5.  Today, our +5 was in line with a market +10 from the recent HOD.  This alignment was important for the second BO trade.  Twin spikes to the MB failed, and we were looking for the expanded trend run that is often found in the backside trading range.  Remember (ref. to a prior blog and definitions)  the "Tracy" and "Batman"patterns.


[09:08] <Chartmaster> watch:  significant bo to sb  we had prior test we played    lb bo possible but sb favored
[09:10] <Chartmaster> +10mh=+5sb   mkt high  short bot




That second trend run was at the +5 and +10 targets as a minimum.  Trading, and the webinar, ended with our last trade.  The MAXT is a reversal, exhausted point. or a PB, strong trend.  We see a MAXT under a 50CB.  The 50CB wins.  Price BO the consolidation noted, and the BO targets set.





EOD LOOK

WHAT MAJOR SHORT BOT BO'S LOOK LIKE

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