March 2nd , 2011Today the market had some nice moves. The VIX is finally starting to make a move which is giving us bigger ranges intraday. This is the market condition you can hit daily goals faster and easier if you know what to look for and have real-time confirmations on your charts.
Today we had blue bars ant the high of the day and at the low of the day. When we get blue bars are rules say to trail the stop to the last blue bar and let the market take you out of the trade. In doing that we are still in if the bigger move kicks in from the lows and if it does not we are out with our profits.
It is important to always look at a chart as if you were in the trade meaning; if you missed the short down to the 803 once the blue bars come in you would not be thinking to enter a short there because if you were short you would be exiting your trade.
Having this real time confirmations gives you odds of the next wave being up or down and you can see from the chart they were really good odds at the high and the low of today.
Happy Trading,
www.eMiniSchool.com
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