"House of Pinchers"

[wolfgangrene]

z_deville,
another view of pincher use is, instead of playing them with a low adx, which in my opinion lowers your odds, I trade shorter time charts using all the same numbers scaled down.
For instance, I traded GLD calls this morning using a 5 min chart.

Here's the 5 min GLD pincher. I bought this Friday's exp calls at .18, shortly before 11:00, sold them at .24, shortly before 12:00. I knew from experience that the price wanted to retouch the 34ema on any bounce.
I got out before that touch, simply because I wanted to secure a profit on a rapidly diminishing time value.