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Art of Trading

Mechanical range trading, with a few head fakes thrown into slow pre-holiday trading.

I don’t assign much value to this type trading, as I assume many of the bigger players are already squared off their big ideas for the year. Hard to see any big traders adding to new longs other than window dressing.

We viewed today’s range as a welcome change to last week’s 15 point range for the WEEK which was probably killing option premium as we suggested.

We discussed the idea of bigger players “averaging” into their zones, and warned about the marginal highs and lows.

Math targets are part of our thinking, but traps/head fakes and trap doors abound in this business. We chose the half gap/ gap idea as the primary focus for the morning, and lunch bounce into expected resistance at the 43 range. Nailed the idea of false breakdown l (IB low) as expected support 36 held.

We often recommend that traders go flat at lunch… today those who let go of their bounce from the 36 support were disappointed to see the squeeze higher high.

We liked the 1245.5 target as a profit taking idea, hence the convenient trade was short the afternoon push and use 48 stop.  41.75 was our target.

We are running in-house seminars this week to help new members get on board with the idea of sequence trading. Ideas like divergence were discussed as well.

Many stars aligned today for the rhythm we chose, with the lunch goose on low volume the surprise for many traders…but really it was a symmetrical move that repeated the low false bo. I did not believe that was a high odds battle. It felt like a bogus move, and I do not plan on catching the full extent of reversal moves at lunch. Low opportunity zone both by time and price. Watching and sizing up the 456 trade is a much higher play usually, as we needed a contra.

Catch a piece of it in a few directions is usually good enough.

Give me that opening sequence everyday for the first hour, and thank you very much… any more is gravy.


RT @Marketrend: #DAX new highs of the year. target post last weeks. Nothing change. Next demon coming #dax #target#mkt

following a star but committed to sharing the journey with some wise men

yearly target of 1244.25 is achieved …can obviously go to any high … a few weeks of thin trading remaining for the year

@jul13_ @AbsolutionCL thanks for the rt … and click the pictures to find deeper messages

RT @50Pips: @tweeterTrades @eminiwizard @RenaTrader morning guys / hi all avoid trouble zone

@yeeron @Marketrend good morning … thank you

RT @Tatt22: @eminiwizard Nice call on target Friday. / :) gm

[09:33] E: as said earlier the obvious play may not be the right one but best odds is half gap / targets hit

angel overnight at 35 demon is 43.25

great rhythm today…low volume mechanical action continues

[10:40] E: the 36 support is for scalping/ profit taking all we can assume …first hr bd nice head fake trapping a few turtles ..

[08:05] E: the yearly targ hit 44.25 [08:07] E: also xxx completes at 45.5

[12:28] E: market seems to trap shorts lately to move higher [13:25] E: b careful of any new high that is marginal

RT @eminiplayer: @tallred nailed the $ES_F close/settlement to the tick at 12:59 PM (CT). Midnight Rambler…. Nice call!

RT @tallred: @NailTheClose ES_F 1241.25 / lol lis wtg


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