Replies to post #9382 on TRADING 04 FUTURES

[Plscraig]

Chart is a TNA Money Maker

Thank you for sharing these charts. I was watching price pierce the upper band when my phone text alerted me TNA was up over 5%, reminding me to sell.

What chart service do you use?


Thank you!
Craig

[LisaAu]

If long over night, and in short term trader mode, my model sells gap ups that touch the upper Bollinger Band.

[Qone0]

Trend,

I'm finding that using different time frame charts is working best in this sideways market. Also blending in a trending indicator MACD,channels, bands ect. With the momentum RSI indicator to trigger trades.

You see the ? trade on your chart. While the trade was good it was not good for a big % move because it was not confirmed by the trending indicator.

Now on to today's short trade at the open, trade was confirmed by the trading bands BUT not by the MACD on the 60 min chart.

As you can see on the 60 min chart on the right the MACD is crossing up in its cycle. This turns the short into a day trade. If the MACD was above the signal line and crossing down it would be a longer trade.

The 4 min chart on the left is what I'm using to trigger trades. It has two RSI lines. One is RSI 14 the other is RSI 2. When the 60 is at trigger levels the 4 min chart takes over to enter the trade when the RSI 2 crosses the RSI 14 line.