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Hello Traders,
On March 29th, 2012, I was watching the Crude Oil Market, and low and behold an interesting trading day commenced!
March 29th, 2012: 200 Trades Chart 1
Well, can you? 🙂
I have a general trading rule, not to trade past the 28th of any month. With this trading strategy, you can make an exception if you see a HVS SKY on the trading charts.
March 29th, 2012: 200 Trades Chart 1a
By definition, to have a HVS SKY you need to have a volume bar well over 500, and the higher the better! The higher the number on the HVS SKY the better the overall signal you will have a high odds of extreme types of movement in the market.
March 29th, 2012: 200 Trades Chart 1b
What we see here, is a double top and a double bottom, followed by a breakout to the short side. From this point, the overall trend was down on the trading day. It went to take out a bunch more buy stops on the way down. In fact, this trading day, I noted 6 Skyscrapers overall.
March 29th, 2012: 200 Trades Chart 1c
The market eventually went down 7P on the trading day. Finally, the market moved slightly up towards the end of the trading session. It was a beautiful example of bracketing a market and allowing the market to decide which way it wanted to proceed.
March 29th, 2012: Trading Statement
I was so FOCUSED trying to catch a Long … I missed the real trade! I saw this trade setup … an exception to the HVS SKY is formulating right here!
Good Trading,
David ‘Tiger’ Knight
P.S. March 29th, 2012 Trading Video – Very Interesting Trading Day … I am working on something called a HVS SKY FAILURE … more to come as I work it out how to trade it. At 13 minutes into this trading video, I saw a sign of weakness … now I am trying to work it out in my head. If you have any thoughts, then please share!
March 29th, 2012: Part I
March 29th, 2012: Part II
I am a 30 Year Futures and Commodities Trading Veteran. In addition, I enjoy games of skill and chance like: poker, craps, blackjack and roulette. During my professional career, I have developed and implemented successful trading strategies and methods; along with winning systems in games of skill and chance. Join with me on our mutual journey together.
