Posts

RSI Divergence Set Up...

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The old RSI divergence set up has started showing up regularly again now that volatility has receded somewhat. Here's an example of how I'm trading it. Explanation is on the image. If you have any questions, please leave them in the comments area or email directly. You can find my email in the profile area.

End of Week...

Thursday and Friday were not good. A few wins mixed in with too many losses. I gave up half my profits from what was a pretty good week up until Thursday evening. Damn, I hate when that happens. I have to say the possibility of a total global financial meltdown loomed heavy in my thoughts. Next week will be another very interesting week. I hope the world economy makes it through. This is truly a very scary financial time. I'm a firm believer that the evidence is overwhelming that when you elect a person(President Bush) and a body of people(U.S. Congress) to a govern the most powerful country on earth that represent a financial ideology instead of the best interests of the constituents, you get a financial disaster like we have now. God help us. It may be all we have left to hope for.

Good Start...

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After last night's debacle taking two losses for -122, then a win for +65 which left me -57 in the hole, I latched on to this trade right out of the gate tonight. Nice short entry just below the round number at 173.85 and riding it down to a 2/3 scale out at 172.97 for +87.

Kicking Some Butt...

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This is a lot like last night. Started off with a -61 loss trying to get short from 180.20. Finally price proved it was really going to go short so I entered at 179.10 and rode it down for a sweet +236.

Great Trade...

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After taking an opening loss for -61(ouch!) I was abe to hop on the move south. Currently sitting on +208 and waiting to see what the London open brings.