This report was sent to subscribers on 8/25/10 5:59 p.m. Chicago time to be used for trading on 8/26/10. Everything is done by Howard Tyllas, no program or black box.
October Cattle (elec.)
After the close recap on 8/26/10: My pivot acted as resistance and was 98.85, .15 from the actual high, and my support was 98.30, only .10 from the actual low.
All Results for 8/26/10 were:
Soybeans: My resistance was .01 1/2 from the actual high; my support was .02 1/4 from the actual low.
Corn: My resistance was .02 1/4 from the actual high; my support was .01 1/2 from the actual low.
Crude Oil: My resistance was .50 from the actual high; my support was .56 from the actual low.
S&P: My resistance was 4.00 from the actual high; my support was 5.75 from the actual low.
Gold: My resistance was $3.40 from the actual high; my support was $2.30 from the actual low.
Euro: My resistance was .34 from the actual high; my support was .08 from the actual low.
Bonds: My resistance was 5 from the actual high; my support was the EXACT actual low.
Nat. Gas: My resistance was .025 from the actual high; my support was .015 from the actual low.
Cattle: My resistance was .15 from the actual high; my support was .10 from the actual low.
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All charts and numbers for 8/27/10 have already been sent to subscribers at 6:15pm.
98.30 Uptrend Line Support
Trend 92.05 is the 200 day MA
5 day chart....... Up (last week same day)
Daily chart ...... Up
Weekly chart .......Up ATR 1.10
Monthly chart.... Sideways Overbought 71%
I continue to say "Gap was filled at 99.92 and continues to act as resistance. Top channel line acts as support" (at 98.00 on Monday).
In my daily cattle numbers on Wednesday; my pivot acted as resistance and was .32 from the actual high, my support was .25 from the actual low.
October Cattle (elec.) for 8/26/10:
Cattle: Accurate numbers. Idea to take the sell signal only was spot on. I want to continue to take the sell signals only and use a buy stop of .35 to protect the idea if wrong. Bulls must look at the uptrend lines and take a stand at them. If I was bullish because I knew about the fundamentals (which I do not) I would still risk only .35 at each line if they do not hold.
New Subscribers: Keep in mind that these are day trading numbers. They are equally to be used for swing trading and longer term trading time frames on the day I want to enter or exit my position. The charts are to be used for overall trade location looking for areas of price discovery of support and resistance levels. When the market does go to the charts longer term support or resistance levels such as bracket lines or longer term trend lines, I use my numbers on that day to enter or exit my position. The numbers do not tell you what to do, you are in control of that, but they will give you a framework to try and buy or sell at the best price for that day. For me it gives me a strategy and the best way I have found to discover the best price for entering or exiting my trade ideas.
If I have the exact numbers for the actual high and low of the day 12 hours in advance, the question has always been, how do I trade it? That is what I best describe in my numbers explanation. Any intuitiveness or nuances I trade, I would keep a journal to see if it is worthwhile overriding my plan. I rarely go against my explanation
October Cattle (elec.) for 8/25/10:
Cattle: Spot on resistance and accurate support. My idea to trade the sell side only was spot on. I continue with those thoughts and want to risk .35 trading the sell signals using a buy stop to protect. I always place the stop the same time you place the entry order.
Results for 8/25/10 were:
Soybeans: My resistance was .03 1/4 from the actual high; my support was .06 from the actual low.
Corn: My resistance was .02 from the actual high; my support was .04 1/2 from the actual low.
Crude Oil: My resistance was .13 from the actual high; my support was .41 from the actual low.
S&P: My resistance was .50 from the actual high; my support was .75 from the actual low.
Gold: My resistance was $3.80 from the actual high; my support was $0.60 from the actual low.
Euro: My resistance was .03 from the actual high; my support was .20 from the actual low.
Bonds: My resistance was 24 from the actual high; my support was the EXACT actual low.
Nat. Gas: My resistance was .002 from the actual high; my support was .047 from the actual low.
Cattle: My resistance was .32 from the actual high; my support was .25 from the actual low.
October Cattle (elec.) for 8/24/10:
Cattle: Numbers produced the exact high, and the actual low was .02 from my support. Not wanting to take the buy signal did not lose money on Monday, but rather kept me from making money. Keep a journal on your bias to see if it helps or hurts you. Not losing money is helpful, keeping you from making money like this one, is not. I want to trade from the sell side only today using the numbers risking .35 using a buy stop to protect. If the market closes above 101, we could see the market go into panic mode, or capitulation, either way expect volatile action if above.
Want to know what I think for tomorrow and going forward?
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Disclaimer: No guarantee of any kind is implied or possible where projections of future conditions are attempted. Futures trading involve risk. In no event should the content of this be construed as an express or implied promise, guarantee or implication by or from Howard Tyllas, that you will profit or that losses can or will be limited in any manner whatsoever. No such promises, guarantees or implications are given. Past results are no indication of future performance.