Trading to win using the Secret Code of the Illuminati

MoMoMo

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Stop Losses

In characteristic fashion, the Boyz trapped the early longs, then the late shorts.

Broken record.

Oooooops. Late longs trapped. A pleasant surprise.

Really, luck has so much to do with trading and life.

The algo’s and bots have become somewhat predictable, and once a momo trade is underway, the high odds targets seem to become reversal pivots.

Best charts we identified in play were the 60 and 15 globex, along with the 5 rth. Don’t forget the 240 .

We had the bounce right, but truthfully did not see the strong bounce  breakout at the end of the IB. Once it happened, the 12.5/14.75 became targets. We were content to recommend keeping profits.

The 1209 demon that worked for the half gap and gap trade was a beauty, but gave up like a beaten man during the bounce back momo trade.

85 support held overnight, we suggested off all by 94 and use 92 as support for the morning IB trade.

Timing was important as part of that trade idea.

Lunch range was for a contra, and higher targets were available, but we made it clear  to our traders that the odds favored a  pullback rather than a breakout.

Who knew it would become a roller coaster?

The 1203 magnet at the open drive was first priority, then trailers after that for 99.5 through the gap 97, and then anything below 96 we assumed was a gift.

Ditto for the afternoon trade, once 1208 let go. We felt that was the trigger for any afternoon low.

1216 was used as our resistance today.

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In the midnight hour, she cried mo, mo, mo…

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