Overnight session plunged before midnight, and teased traders with the 1200.5 target being hit. Ze said it has been since August 30 that we have closed below the average pivot.
Yesterday’s Angels and Demons need to be considered and sequenced into today’s trading.
The Angel attempt needs to be in an area that has a reason to expect it to form… only in hindsight will we know if it will work.
It’s raining, arc(h) built ?
Bounce mode, we know the defined zone. If we get too extended, snap back takes us back to blue, if gets through it expect the heater to the rain line, test that db break. Note symmetry with yesterday’s middle.
The key this morning was holding the 08 to 1210 zone…then break the 02 and continue. Note that a one or two tic break does not mean broken. The afternoon 92 test was a good example…two tics lower…and that was all. When we chopped a bit and stopped making lower lows, then the longs side attempt is more reasonable, assuming you have risk capital from the market, and are willing to risk small with tight stop.
Expected 92 support needs to stabilize…has better odds than the short here…but I prefer waiting for it to settle and set an Angel. Better yet, on the double bottom test, timing is better for the bounce after 2 pm Friday. I also like to see a visual cue for the theoretical support at 88.
Step by step.
For me, deeper look helps see the trend better.
Box view helpful to see zones that have been bypassed, and need revisiting.
Thanks to all for well wishes, rt’s, comments, #FF. I do appreciate it.
A word of caution… it takes time to come up with a system that works for each of us. Learn from others, but make it our own by understanding the dynamics of someone’s methodology before jumping in-a little knowledge is dangerous.
It’s finally Friday.. and a much needed break is needed. If you were up overnight, sensing the breakdown…and hit the trades both ways…congrats…you are a true trader… and workaholic.
Graveyard shift at work… 3rd time at 02 …
@jamesk_69 Ze said we haven’t closed below AP since aug 30 … was 1.5 going into overnight session
jk @eminiwizard structure has been high for a long time for sure
jk @eminiwizard and if I had to guess it’d be that you favor short the bounces mode right now
@jamesk_69 that’s the odds … but the Boyz have been propping it up a long time now
@jamesk_69 ap right now lol http://bit.ly/bSHVDu
@eminiwizard Lol AP. Love it. You’ve got the deepest toolbox around. Too many think in one dimension.
RT @MissTrade: @eminiwizard gravy time / lol Boyz have defended this level quite well… http://bit.ly/cc9q10
@jamesk_69 many thanks jk… lots of good traders out here and I learn from all of them
777 $ES_F China stocks nosedive on policy fears; Shanghai ends down 5.2%, Shenzhen falls 6.1%
96 target hit … could be more but that is primary http://bit.ly/bzaTlY
@Nirav777 right? … 2 days ago we reviewed this… can go any low it wants… http://bit.ly/9NTarm
capture something by 92 is smart
T @50Pips: @eminiwizard hello sir, working overtime? 😉 have a great one! / lol yes had alarm set
RT @cber68: @eminiwizard the 93 nvpoc would be gravt huh were really in the hole it’s Cinas fault lol / great nvpoc ! note 20 dema is 93
another look http://bit.ly/caAfFs
RT @TraderSmarts: New blog post: Here are details of the $6E_F trade: http://bit.ly/d9JXaj $EURUSD
@Jediphone thank u Jedi hope all is well …
Rain drops … http://bit.ly/9CbBDm
1202 previous support should be key now
RT @foalish: close longs… Sweet…..targets met / nice trade
rain drops 2 http://bit.ly/bX2QjE
@unpektable lol weather girls what u doing up?
@unpektable ss updated .. 97.75 new ap
@eminiwizard Great calls E!! Sequence trading baby, just like you teach it. Nothing like banking coin both ways while singing in the rain!
@eminiwizard And we got thunderstorms in Athens to boot!! Thanks for the updates.
@unpektable rofl u are in charge now… going back to bed u know the defined zone for now … bouncing mode
@eminiwizard Sweet dreams It’s Raining 300 Men – http://bit.ly/aULrkq
unpektable lol ty gn 1202 is retest after 00 then use 06 456 4 is 10 min and 2 is 15 min blue
( Note expected bounce is the the 04 06… above that is stronger)… a few hrs of much needed sleep.
strong bounce resistance of last resort is 08 above that means trouble http://bit.ly/95QBE7
RT @Marketrend:#SPX below 1211 expect new test [1201-1198]>> Don`t want to run. 9 pts today. Done the day? Game On not over. /1210 is demon
problem with strong pb is that it may indicate support found, and pb get bought… think conservatively now
the heater …. http://bit.ly/bNC72B
longs need to stall… get worried about their profits… then maybe get good short … but good possibility day low is in already
RT @stevenplace: $ES_F tagged the 20 day and bounced aggressively
777 $ES_F closed my long from 1193.5 at 1198.75 +5.25 #Sleeptrading.
RT @dafowc: you know we’ll end green today. just know it. europe could fall into the sea, china burn down, and we’d be green. right? #POMO
“be conservative…especially if already made $$” wait for best trade set ups
07 is half gap trade
we think careful of chop first 15 mins… range is clear …needs resolving so advised hit and run if playing
08 is our resistance
02 support needs breaking … and careful short side cannot be overconfident… day low is probably in already (globex)
cant break 02 … then shorts need to be careful … and worst trick is go nowhere and just chop
flat for news is safest
02 support hanging tough… shorts cannot just ignore that
RT @Marketrend: @eminiwizard learn with you sir every day. I like that so much. thank you / u welcome … and us as well
high odds half gap trade is done … so fade it for scalp was plan
RT @donaldT44: high odds of half gap? u have stats to back up that claim? / i am relying on senters & carter 82% odds half gap
PP today is 09 as well
first targ is the 4.75
and we thought this open would be tough today
this was perfect game … out by 4.5 or so all but trailer
and scalping assumed… not plunge 20 min charts we are using to see the bigger pic
trailer is all past 3 just needed momo to stall… that 2nd stab long was nasty
out by 98.5 all but last piece
[10:38] E: 98.5 99.5 take something
gap fill is the juice ovn amgel 95.5
globex low at 93 key
well well well lol s2 area as well here today
RT @vader7x: Most es traders waiting for gap fill.. now what / go play golf
RT @eminiplayer: Flat at 97.25 gap fill / player great trade
rhythm we thought was primary down overnight = short bounce… and may take several attempts … so get back to 7 + gave better odds
agg traders only using the 3 resist
ib low broke so theory is resist on bounce for agg only
RT @MissTrade: Here comes 1195 round tripper! / better not be too agg 95.5 angel and lunch coming
chart previously posted note the 120 08 and 93 ; daily chart on the right bigger players http://bit.ly/bNC72B
angel 95.5 being tested … any day low is possible today.. must capture most here and re entry shorts til doesnt work
Goal of this leg for shorts is to break 93 and 92 is the assumed support target so on fumes if short db area +/- 1 point
say yeehaa trend days we do not fight
RT @traderCRM: Heads up if short $ES_F /
any low is possible on day like today… so caution longs as well ( remember flash crash?)
lunch … market trying to stabilize cannot add shorts here… … option 3 is “do nothing” 88 guessing support for bounce attempt
RT @zlmtb: @eminiwizard possible angel in progress at 1193? / 94 is trying… 89.25 low on 11/13 trying to hold 20 min chart..
i usually prefer hit bounces trend days… cannot get too fancy… eod after 230 different story
most traders try too hard this 92 and beat themselves up… option 3 = do nothing
trailer ok, add new short … no… buy = why?
nd this is a biit personal… but daughter may be heading into labor … lol so dont expect any sane posts from me now
RT @TexTrader: @eminiwizard Mine too! Really! / lol enjoy it other daughter giving us a break… waiting til January lol
thanks all !
if u cant “add it as sell ” it usually = profit taking bounce
ut easier to hit the short … safer
88 assumed support
profit taking bounce ends and then scalping short only if u play that side 93.75 angel
smart traders dont feel the need to guess long UNLESS they have profits willing to risk… getting in the game not a good reason
[12:48] E: the election ramp… we said was over… longs be careful [12:48] E: and first of month bias gone
[12:49] E: and we blew through this whole box… and we said needed to come back 95 area at least
so view is that this is healthy and necessary.. longer term profits captured… and today part of that process
9 5 min bars up and 3 back down with trend… less stressful with trend testing angel
last post for abit … after 2 be conservative
never ruin a good day by getting carried away.. or u are the one they carry away
Pek : Trading is rhythm-it’s dance. To trade you need a teacher and the best is @eminiwizard He even looks like Anthony Quinn http://bit.ly/aUdyGl
weeklies coming out…stall zone at 98 to 02 99 vwap and 40% id.shorts target the 95.5.. trend trade..guessers long great job out by 98
b4 the afternoon buy… i prefer to see the db test… sometimes we dont get it but usually do
@unpektable lol pek … u must be tired thanks very much
99’s trail only and remember if u are playing now… http://youtu.be/kn481KcjvMo
target achieved 94.5
any more is the juice and wrap it up is smart
average pivot is 97… flat and done
stabilizes… then better odds later in day for the bounce http://bit.ly/aNh48N
review charts a bit deeper http://bit.ly/d6fFsV
and box view … http://bit.ly/dqkf20
thanks all for rt, #FF, comments, and well wishes… have a nice weekend
Pek: Quantitative Easing Explained http://bit.ly/bIetCO Awesome!
Late day traders after 3:45 are gamblers…and need to manage positions carefully.