Positive news on China's GDP, and Spain's short-term bond auction, helped to propel overnight markets higher, before poor earnings results from Citigroup threw a wet blanket on things. As a result, we expected the markets to trade with some indecision, and opted for a cautious trading plan for the morning trading session.
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Stephen Pauly
120 days ago
So Rollie's trade today was exactly what I was talking about in my email to Mandy. I got stopped out of so many of those Boomerang trades where a support or resistance didn't hold up and the bar reversed against what you would expect.
Frits Altenburg
119 days ago
An indicator like the bollinger band does nothing else then following the price and displaying it in a different way. So when price goes up (like in the first trade) your BB will start to move different as well. At your moment of entry BB is more or less flat. But when price moves up further, yes your BB will show an upward move as well. But you don't know that at the moment of entry! If this trade had become a winner the BB would not have shown that upward move. Then you could have said "you see, the BB moved nicely following the slope we wanted it to move".
Bottom line is: you are dealing here with LAGGING indicators! Always nice to analyze a trade afterwards... If you had entered volume as an indicator you could have seen this trade would have gone wrong due to a blowout in volume at the end of the trend. This advice was for free, maybe you can post it for your customers.