Monday, April 27, 2009

Monday: 93.9% potential - but...Look out below on the daily charts


Base System: 46W-3L =49T for 93.9%
Sub System: 15W - 1L =16T for 93.8%

Trading Accuracy: 78.95%
Net Profit: +$571.30
Net Points: +10.5

I only had about 45 minutes slightly before and through the opening today to watch the markets. Although I did trade aggressive, I managed to scrape out enough wins early. I caught one of my favorite setups. Its a back to back long signal where the 2nd signal becomes a double bottom. This signal usually reverses the market and can be "double dipped". I take 1 point on the first run up, then rebuy on the 2nd and hold for 1.5 or 2 points. I was trading blind without my S&R levels which is always more risky.

My daily chart shows a potential short signal coming up tomorrow. If we close lower tomorrow it could form a poorly shaped short, which could signal a quick run downwards.

Chart of the day shows "the system" picking yet another top.

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