Murder by Crows
Note: Sometimes these are “sanitized versions” a day or so behind the blogs I do for traders in our member area.
Yes, this is a lot of work but it is my journal.
We cautioned about the three black crows pattern on the daily chart, and expected a bounce today. Although that is technically a bearish reversal pattern, we felt the market would be most confused by a bounce day.
“Sell Rosh Hashanah and buy Yom Kippur” we pointed out early in the game as a favorite Wall St mantra.
We also concluded that a XXXXXX reversal was in order, and that is similar to Pristine’s XXXXXX method.
The 35.75 marginal low overnight held, making it a db weekly, and then the market was free to test the upside.
The half gap play did not complete, making it a low odds trade to jump in at the 44.
As it turned out, that trade was a winner.
We expected the XXXXXX to break today; we got lucky I guess taking the shot there the first time around.
So we won some but clearly missed the primary trade.
We are prepared for that eventuality; once we miss it we are fishing for the minnows and sardines.
The high odds trade wins most of the time, but not all of the time. Discipline is imperative on these days so as not to wipe out a week’s worth of gains in one bad day of trading.
PP and XXXX were the 42.5 area, and was an aggressive entry long. As it turned out only the most aggressive were in at the 44 big Magnet.
So be it. No sense losing sleep over that one.
The 61 resistance called was a reasonable but not safe entry near several markers; the XXX, the XXX 62.5 resistance, the 62 resistance from the XXXXX.
Life is what happens to us while we are making all our plans
With family visiting, pets that are back and forth to vets for terminal illness treatment, a parent that needs some attention… and throw in a planned visit out of state that got postponed…
All part of life while we try to go about business as usual.
Like I said, my system was designed to come in and locate a few basic trades when I am around, recognizing that life throws many curve balls at us.
61 for 55 support was the sloooow contra that started at 1:45 and lasted for 2 hours. The EOD then tested the 60.25 Demon.
I think the chart(s) of the day were the XXX globex and the XXXXX.
@Futures71 is in the game with a blog and he is certainly a voice of value out there.
I am all ears when he speaks softly, he is a market profiler and an astute trader.
So is Jim Rohn, one of the true masters out there.