Technical Trades
Technical Analysis applied to Stocks and Futures.

YM hourly diamond top

YM-Dec29-diamond.gif

Simple pattern; will the result be as simple?

The other simple pattern I’ve detected is the hourly Fuzzy C that I posted yesterday. The bullish 1 impulse today failed, and price then fell out of a weak 3 up, broke the C, and price now selling impulsively from the 12570 Fuzzy C resistance. Threatening new lows as I type in fact. Ooops….there it cracks to new lows in the 40s and selling hard. :-)

Personally, I’m holding 5 YM futures contracts short from 12578 with +150 points and green hoping for a weak last 30 minutes of the day. That trade was posted real-time, as are all of my futures trades, and open invitation to all to attend.

EDIT: Closed the short for +205 points. Net +$1085 for the day. +230 gross points from 3 setups. 2 winners, 1 loser. Probability 66.6%. Average winner 120, average loser 10. W/L=12. Nice equity curve with those stats! Great way to finish the year. If you’re not a visitor to the free chat room, swing by when you get a chance and watch the action.

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