Head Fakes

By the time I had posted Lou Christie’s classic, I had already come to believe that the market was trapping the longs and would be heading lower.

That choice of songs was symbolic for me, as are most of my choices in songs when I post.

There is the world that we see, and the hidden world that lies beneath, waiting to snare the unsuspecting traveller…

Face 1.

The morning gap had the smell of “trap” all over it, and the early shorts were soon underwater.  R2 was first resistance, then the opening price was tested and held. The market hit 928.25, within one tic of T2 after taking out the week and daily high.

Normally this breakout would trigger the continuation trade, but I felt it was 50/50 odds because of the hidden pivot that was posted.

Chop ensued, and the longs lost their edge as time wore on without making any further attempt on at least a double top.

Face 2

The slow rotation continued, and pullback longs who wanted the 31 target thought the 23.75, and 21 were the ticket. I called 26 as resistance, and the 19 test was destined as the late longs were trapped.

Call me cynical, but my mind has learned to think this way, and it has served me well to always consider: “How will the most traders be confused and hurt?”

“Screw the shorts, then the late longs.” The game continues.

Sluggish pace, thin volume, and the 4th of July holiday a stone’s throw away suggests get the Burner out and head for the links or the beach early.

Twitter

” last night that 17 18 resis got busted… so it is trying to reverse itself still using that as first supp premarket” / think both sides

Be back in a bit if u got stopped out your first order of business is get your $ back

early shorts were trapped, now the turtles are squirming… Boyz know how to do it, don’t they?

RT @tradethecycles: EWI: “The number 0.618 is known as the Golden Ratio, the Divine Proportion, the building block of everything in nature.”

There is a rhythm in the market, and when u learn it, trading gets easier… not easy; just easier

many views of the same beast… depends on your time perspective.. http://bit.ly/2IWQD

 For those who like to c “rotation” as @futures71 calls it, here is how i see it note the 21 line support had to go http://bit.ly/nmGmO

No guru here, just try to use common sense is all here is the 21 idea… http://bit.ly/fHAqp

RT @EminiMatt: @eminiwizard Amen…enjoying your tweets…i think we’re reading from the same talking points lol/ ty

“To learn something new about trading, I want to be the dumbest in the room, to learn about life, I want to learn from everyone” – E

a system allows us to understand reality, and not be unduly influenced by our emotions….

RT @HamzeiAnalytics: RT @eminiwizard: destined all day from 26 ressitance <<< AGREE sire / TY for RT

To my Band of Brothers and Sisters, I hope you find this… its for u The thin red line…. http://bit.ly/18YIE4

Two Faces Have I