We cannot be aggressive long side today…why is 78 theoretical resistance for now?
That was a poll we asked our traders this morning, pre market, and suggested scalping short.
It was obviously counter-trend, but had a reasonable chance of success, if for nothing other than the half-gap and gap fill targets.
[07:44] E: 66 support still
[07:46] E: 15 min chart a beauty
[07:56] E: so the xx model has got its first targ 75 77
[09:16] E: 2.) Determine Directionality and immediate price location. Where can we go today?
[09:16] E: we will talk about that after first hr
[11:26] E: how do we determine directionality?
[11:26] E: we guess
[11:28] E: so “best chart currently is the 20 globex
[11:28] E: this is regression
[11:28] E: ebb and flow
[11:32] E: we cannot just use emas
[11:34] Z: no more posts, let them come here
[11:43] E: the most important component of directionality
[11:43] E: is sequence trading
[11:43] E: knowing expected profit taking areas
[11:44] E: [07:44] E: 66 support still
[11:47] E: lunch coming
[11:47] E: so primary trade
[11:47] mike: thx for session E
[11:52] Jason : ty E, good stuff
[11:52] 3 under: Thx E
[11:54] j rob: this is very good stuff, things you absolutely won’t be exposed to in all the bullsheeto trade gurus on the net with twitter, youtube and facebook..this IS the place to learn to actually try and understand the markets!!
[11:54] j rob: this is without doubt the truth..
[11:54] E: thank u so much
[11:54] j rob: the peole like me that “happen” in here..are blessed and more lucky than they will every realize..
[12:01] E: market is seeking support
[12:01] E: ressit is 72
[14:18] E: i can think of no better tool than twitter for the Boyz to know where our stops are
[14:21] E: i dont know if high or low for the day is in
[14:21] E: i suspect day high globex is in
[14:22] E: good possibility the low is also in
[14:35] E: scalp is all we know
[14:35] E: and any more is luck
[14:37] E: this is typical of hurry up and wait
[14:37] E: for news
[14:38] E: every bear in the world wants instant gratification
[15:05] E: market may not want to give shorts satisfaction in rth
[15:30] E: db b4 bd
[15:30] E: is normal
[15:49] E: 72 resistance if the bears up to it
16:10] 3 under: Its a quad core, 42 main and 19 secondary
[16:10] TC : wow!
[16:11] 3 under: its an lcd tv
[16:11] 777: for us techies
[16:11] 3 under: yep hdmi on the video card I bought
[16:12] E: traders here can share ideas about set up, technology, parts etc
[16:12] TC : guess my 15? laptop is past its prime!
[16:12] E: great price
[16:12] 777: tc- mine too…
[16:12] 3 under: Included the monitor
[16:12] E: monitor too
[16:12] Jason : may need some sunglasses for that and get a nice tan while shirtless trading
[16:12] 3 under: I use a laptop too 7
[16:12] E: lol
[16:12] 777: i can see jason is going to fit right in with our group
[16:12] Jason : lol
[16:13] Jason : fun group here
Key Question we asked traders this morning: Why is it a good day not to be an aggressive long? /78 resistance
@tradercisco : RT @eminiwizard: Why is it a good day not to be an aggressive long? > Because the trap door on the EurUsd opened up….
zlmtb : @eminiwizard what was your basis for identifying 1278 as resistance?
@zlmtb significant price target hit… we actually identified 5 reasons
@tradercisco ty… great insight
Indomitable Spirit… the key to finding direction