MM is one of the best ways to make-or lose-money that I know of.
The market is a take no prisoners mistress that says you better know what you are doing.
If not, we go to the sidelines and re-orient our thinking.
There were a number of ways to play the trade, and depending on your perspective, you captured some of the move in both directions.
No gunslinger here; I told the team my support premarket was the 37 to break the 44 48 and test 52 to 54; no guarantee and I don’t guess before reports.
Shorts were warned to be patient, they would find it very difficult if they were early.
The 44 half gap target was pivotal, and on twitter those of you who follow me know what I was thinking.
pre market “shorts be patient today, target for longs 52 to 53, short it and test 47 44, any more is luck” fight PPT and u lose”
RT @eminiplayer: Still focusing on Long side / u can have it
The key was then the 41 gap. target 38, and if that area lets go likely to test the 34/32 zone.
“protect profits mode”
half gap at 43.75 and gap 41
@eminiplayer just a lucky guess “this is the screw both sides trade early shorts late longs”
456 trade targets 38.5 so be nimble here
target for us is 33.75 to 32 capture b4 lunch
50.75 demon, 36 (yest low area) angel
@nikkyd agree, but was a completion target at 53.5
key today was patience for the short magnet hit 31.5 can go to any low
RT @traderCRM: RT @traderCRM: 33.25, 31.25 next on tap $ES_F << Here we are / nice !
Good traders know next targets if one level breaks, no matter what their methodology
Tatt22: @eminiwizard From 52.00 to 32.00 called on MONDAY!! What a great trader & TEACHER. The best!! / thanks George
We advised risk reward targets long to test 42; conservative shorts to use the 42 to 44 as key resistance. Scalp trading was assumed at month end EOD, and 35.5 as an important idea on any pullback.
We understood the traders who wanted the 27 /26 target; but timing suggested control emotions and unless we get a “crash”, normal play is bounce at lunch.
The spin move was a beauty to trap late shorts, and the rest is history.
neutralize your mind
@MissTrade boys love to trash the market so they can buy them cheaper first of month be nimble scalping assumed
Think about it for a minute.
Look how great traders recover their sense of flow.
RT @eminiplayer: $TF_F testing VWAP and IB Low / great insight player
and deja vu
conserv shorts we said relax wait for the 42 44 zone and even that may not work
Month ends, stating the obvious, we are closer to the Holidays and Santa.
Don’t wonder why… just trade what we see.