Afternoon,

Today was a much better day for the day trader, at least for the first part of the day. The first trade was a trader’s trick set-up after a trend line break to the upside above the 56 EMA. The time of the day was 9:09 am CST with a long entry of 479.20.

The market bounced around for the next while and then had a trend line break to the down side below the 56 EMA followed by a trader’s trick set-up back to the 56 EMA. The time of the trade was 11:42 am CST with a short entry of 483.20.

The final trade of the day was another trader’s trick set-up after a trend line break below the 56 EMA. The time of the trade was was 12:12 pm CST with a short entry of 476.40.

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Afternoon,

Today was one of the most difficult day of trading that I can remember in recent memory. The price spent most of the day in a sideways base making for a very frustrating day at the fishing pond. There was a trend line break to the down side but the short entry would have been above the 56 EMA, which as most of you know, is not a valid short set-up. The market finally broke to the upside with a trader’s trick set-up after a trend line break to the upside above the 56 EMA. The trade was up a small amount before stopping out for a 2 point loss. Here is the chart for the sideways base and the one trade that set-up.

December 8, 2008

Click on chart to enlarge.

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Afternoon,

Another good day at the fishing pond as the market trended nicely today.

Trade 1 was a trader’s trick set-up after a trend line break to the down side below the 56 EMA. The time of the trade was 8:42 am CST with a short entry of 433.00.

The next set-up was a trader’s trick set-up after a trend line break to the upside above the 56 EMA with a time of 10:48 am CST and a long entry of 432.20. Entry was 1 tick above the 56 which made the trade set-up valid.

The last trade of the day was another trader’s trick set-up after a trend line break to the upside above the 56 EMA. The time of the trade was 12:21 pm CST with a long entry of 438.20. Here is the chart for trades 1, 2, and 3.

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