Trading to win using the Secret Code of the Illuminati

Hope Springs Eternal

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chart patterns

ZZZZZZZZZZZZZZZZZZZZZZZZ

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Every short in the world waited…

and waited….

and waited…

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Please, just give me that really good trade. You know, the 15 pointer or so.

Pullleeeeeze.

Pretty Pulleeeeze.

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Sigh. They were howling at the moon.

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Shorts want sell off late day.

Enduring pain that must seem like child birth, the market squeezed higher in a ratchet-type move.

Every dip met with a buyer.

Like anĀ inchworm crawling , the machine methodically said “Not today”.

1075 Destined.

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The base chart said “Trust me”.

The intermediate chart said “me too”.

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@Misstrade said go play golf. He obviously had the right idea.

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The 64 was the Pivot point, the 64.25 the Angel , and we choose 62 as support.

Our belief was that the morning trade was up for the gap(s); but fade the higher high into the 71.88 T1 target. We thought the market was going to catch a few turtles who stuck their neck out in a breakout.

Just a psychology play; our thinking was that players would take their fast money and not hang out all day for the few remaining points to T2 (74.75). R1 was 74 today.

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Time is a valuable commodity, and must be respected.

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A real estate friend of mine taught me a lesson a long time ago about rabbits and elephants.

I can still hear him saying: “We want to bag the big game, but until then we must hunt some rabbits for a stew that will sustain us until we catch the elephant.”

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Hit and run, capture something.

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Speaking of running, thank goodness we didn’t hit 78 today. We were spared Triple Seven singing one of his favorite songs as he danced down Jeffrey’s street…

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Comments

  • eminiwizard (Author) said:

    This webinar from James Flanagan at Gann Global Financial is quite well done. Even if you don’t share his conclusions, the rigorous research he shares is eye-opening and instructive. The “psychology” idea about marginal tops and bottoms; shaking out the weak hands beautifully illustrated.

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