So, Bearish or Bullish?
Arguments for both sides to be made.
60 minute chart in play early morning
Bullish case, much prefer the long side stance from the 1067 support we called what seems like ages ago, but is really only 7 days ago. Undoing 45 days of range in seven days averages out to about 20 points gain per day. Truly amazing levitation by the Boyz from the db.
The Pink line was seen early today as a potential target, as much as we hated to admit it.
Yesterday’s breakout triggered buying, and although I saw the 96 potential support, admittedly I felt that was a low odds trade, but plausible launch pad to trap stubborn shorts.
Our plan? Avoid trouble, look for scalps short, recognizing that the best shorts would probably come as a lunch contra or late contra. Longs if buy just manage and move stops as trailer.
My preference was scalp short here and there for a few crumbs, and wait to see if a high odds resistance zone appeared. We talked about the importance of discipline, knowing who we are as a trader. Priority: Never let a bad day take us out of the game.
Tough day, no doubt for any sane trader.
I thought we would need to break several shelves of support to unravel the long side, and assume most late day shorts had the same idea: knock out the 04/02 traders to sink the morning longs.
One good trade a day is all we need, and if you caught any portion of that late swoon, first objective was retrieve any lost money from stop outs.
[08:52] E: today’s trading[08:52] E: nimble short side[08:52] E: longs are trend trades
[08:55] E: means the 98 area is middle right now [08:56] E: the reason i said capture something for sure at 96 area?
[08:57] E: [08:09] E: there are traders who guessed wrong about the 97 earlier[08:57] E: [08:09] E: they will be trying to wiggle out
Completion targets we had at 1210 to 14… and the 15.25 was actually T1.
Risk reward took over there, and I made it clear to longs they did fabulous, but now it was shorts turn.
[14:08] E: i wont buy long here
[14:08] E: so soh or short my only options
[14:10] E: target 12.5 to 1214
[14:10] E: already achieved
[14:20] E: news priced in idea
[14:21] E: so short or not up to u
Unpektable : @eminiwizard Great call today E on 2x move and target of 97. Beautiful day thanks to the system. Thank you!! #EMWS
my pleasure, roomie.
RT @eminiplayer: today’s plan: “Buyers in Conrol bias is Bullish…NVPOC at 1212.75 is a potential upside target” / well done player #EMWS
Eminiplayer always has his head in the game. Not in competition with him or anyone else; I just appreciate seeing a professional with a consistent game. Never hurts to acknowledge others success in this world….
well, unless it’s one of da Boyz… they don’t need any encouraging.
Just a dreamer here.
Sweet Dreams, til sunbeams fin’ ya…
…Remembering those bygone days …
and still making new plans and dreams…