Time for some Holiday music.
Neutralize your mind.
Yesterday we had a plunge late day, everyone is looking down. Avoid getting squeezed at the open; conservative wait 15 minutes and then see if you feel good about the short. We may miss it, but my intuition suggests that the early shorts get squeezed.
29 resistance from yesterday… give it a try and manage your risk if you like it. Our target was 27.75 … someone wants to take profits.
I am expecting range trading, so is Zeek.
Rollover can be volatile, or swinging.
Half gap trade. Done.
More is gravy.
Off by 19.25 if we get there.
Breakdown first hour low, but I think this is time to be conservative. 24 resistance/target. If that breaks , I don’t like the shorts any more but for scalping.
Avoid lunch trading… should be choppy.
[12:03] E: and shorts on the hook for now
[12:06] E: taking lunch
[12:06] E: be defensive
[12:06] E: assume low is in
[12:07] E: and we are now testing the demon or higher
Possible W forming, use this chart I think.
Seminar for new traders… covered a lot of the basics, some books for the library, some keys for the rollover, including review of past posts related to rollover.
If we get the double top, resistance for the 25.75 and 24.75, and if 22 breaks then shorts back in control. I think shorts are still on the hook and vulnerable.
Watch this rotation at xxx and then we have possible breakout / squeeze but don’t chase it.
Team E go back and review the plan.
It came upon a Midnight, Clear. Another one of my favorites….
Meanwhile… with Rollover, the market has broken out overnight and is testing the high from yesterday.
Who wudda thunk it?
wondering if yesterday afternoon volatility tied to rollover
RT @UnchainTheNight: RT @eminiwizard: rollover reminder / Pace of the Roll http://bit.ly/hsaRom thank u very much
TraderCRM : RT @eminiwizard: scalping day … hit and run .. not expecting plunges etc gimmee the half gap and any more is gravy << agreed, thx E
RT @XY1YX1: @eminiwizard what is a half gap trade? / high odds trade that targets 1/2 distance of yest close and today’s open 82% odds
RT @XY1YX1: @eminiwizard so its a target lvl or go short/long there? 19 is the natural targ cannot expect more
@XY1YX1 RT @eminiwizard: scalping day … hit and run .. not expecting plunges etc (this was a key thought for now)
RT @p357: @eminiwizard oh ye of little faith… / actually just think this is boyz stop run attempt…
P357 : @eminiwizard that’s why it sit with my fat finger ready…
[14:46] E: stop run attempt by the boyz [14:46] E: be careful of 1 point higher highs etc [14:46] E: low vol so cant be trusted
Kevintrades : RT @eminiwizard: [14:11] E: yest plunge [14:11] E: not likely 2 days in row [14:12] E: so shorts need to be conservative//wise words
[14:47] E: 26.5 price target
keep it simple
[13:56] E: and must take out the high of first hr [15:12] E: perfect trade back to 25.75 mag
[14:49] E: [14:39] TC 89: dt before bo we expect double tops before breakouts … good for scalp if nothing else
our premise today was range trading … not plunge… not breakout
22 breaks then doors south get opened again
[08:25] E: 29 was resist [08:25] E: late yest [08:25] E: so same for now …. Keep it simple
thank you for the comments and rt, insights today, much appreciated
Boyz wanted to defend the middle we felt rotation we had at that 22 support
Flowtraderes : @eminiwizard Brother in law trade. Maybe the measured move completes by Friday.
zlmtb: RT @eminiwizard: keep it simple Bill W liked to say that.
nikkyd : @eminiwizard If we get unch for a couple of days, maybe highs are set for the year
RT @nikkyd: @eminiwizard thanx to you! / thank u … just trying to share a little like many do on twitter
RT @CJOLars: WOWWWW…….ES_CONT made a huge up move just now <> Any comments? <> > : / rollover
[10:28] 411: I think long side may work best after first hr
[10:28] 411: trap the shorts idea
[10:37] j r : this is an incredible place to be..thanks to all!
[10:39] j : u guys give confidence and the feeling of security..havin my back!
[10:39] TC : send me some money jr!
[10:39] TC : lol
[10:39] 777: me too j-r
[10:40] j r : do u take monoply?
We do have fun while we learn more about our business, and ourselves.
[11:19] j r: just crazy how this stuff works..
[11:19] j r: i mean it..
[11:19] j : understatement..
“Thank you.” The faithful will keep studying, and remain ever so humble. Nothing is perfect.
RT @i001962: @eminiwizard see you Friday but doubt I’ll have my homework done then again EWS does not require much. / we have your back