Monday Morning Megaphone
We guessed bounce day, squeeze some shorts, and likely range day. I was not convinced the short side would prevail today, since we had a large down day Friday. The key would be the lunch pullback…
Funny how your plans get interrupted by reality.
The Boyz goosed the shorts a bit more, we had the 81 to 82 as primary resistance… after the 78… and I guess it was too obvious. We felt the 84 86 was the back up, not the 90 as a few traders thought.
“Once 78 breaks, we can go to any high”… back to guessing.
Too bad we need sleep… nailed the 62 support, but zzzzzzzzzzzz until 6 am, so just a dream in my account.
We had the 72 support at the open, were happy with the half gap trade, and didn’t count on any more.
A reasonable day, but a bit sloppy.
Speaking of that… more snow and ice on the way.
When the 82 gets busted… sitting through a little heat is required, then manage when it gives us the opportunity. As usual terrible range at lunch, but the price was right. We advised flipping for the 77 bounce, as short side had been tough.
If entered 82.5 short… two point max stop out… and we even dusted off our stop sign to remind traders to be conservative.
@CGinthehouse you are most welcome as u know
smart to take something by 62.5 if playing the breakdown
@nirav777 note yourmegaphone targ market can go to any low on the daily weekly breakdown 57 +/- important
@UnchainTheNight Thinking 58 was rock solid so that is assumed key support area for now … will get tested eventually
RT @TexTrader: 80* today and a chance of snow in the forecast…crazy!/27* here, 80% chance of more snow by Tues, O % chance of 80*
Nite all Angel at 64
@Nirav777 thanks for rt … update
RT @50Pips: @RenaTrader thanks same to you sir;-) / ditto > here’s a laugh to start: best new business locally : “shovel snow off roofs”
$400 the going rate…unless roof already collapsed then its only $250 since they can use their snow plow
@eminiwizard How about we rally in the AM to 1285/1290 to close NVPOC and then sell off? Inside day but up first and then choppy lower
@chewtonic anything possible.. i was thinking 78 to 82 as big resistance first… thanks for sharing nvpoc
73.5 is half gap today and scalpers short grab something and then trail
[08:11] E: and could go even higher [08:11] E: i had the 78 as the zone [09:25] E: half gap trade is available and dont expect too much
RT @FibinIt: RT @zerohedge: INTC halt / sidelines for conservative traders
[09:45] E: assume the worst [09:45] E: that they tear up both sides b4 day over
78 our resistance til broken and not thinking plunge… that was friday
[09:38] E: this could be overtraders nightmare [09:42] E: this is going to be tough shorts [09:43] E: u may have to hit it several times
[09:33] E: hit bounces and scalp [09:33] E: not expecting home runs
RT @vader7x: 74.50 held.. so cautious.. might try push to 82 / [10:23] E: they want to break stops then better later
half gap odds (done) make the earlier short better than this one
[10:06] E: matd already happened ovn [10:06] E: new low [10:06] E: and now we are bouncing so scalps only assumed short side
[09:15] E: more likely the boyz had most traders looking long friday [09:15] E: and short today so be cautious about getting squeeze
[11:17] E: hidden magnet we just showed u [11:17] E: 80.75 [11:18] E: consider risk and reward as we approach it
[11:48] E: 2nd best oppty for short side after half gap trade [11:48] E: right now ( Note this is normally a time I like for the scalp short… it didn’t work today)
RT @joshuademasi: If Friday wasn’t such a bloodbath, we’d be calling today”window dressing” bulls are calling “lack of follow through” $ES_F
DC bounce look at volume … awful (Here kitty kitty)
[08:03] E: the short and break the low then bounce is great trap boyz set [09:13] E: today is end of month
@chewtonic lol now your turn … on bounce day can go any squeeze high
be wrong once or twice… not all day… this is stop run squeezing move and remember to be disciplined
scalping only [11:04] E: rainline key resistance 9] E: and if u want it just have to take the heat
[12:12] E: and i am going to be conservative still [12:27] E: 84 is the waist [12:31] E: if enter 82.5
[12:31] E: remember to honor stops [12:31] E: 2 points max [12:32] E: and if u dont like it [12:32] E: just scratch it
[12:33] E: but when the ib goes [12:33] E: u have to be conserv [12:34] E: and then the 83 to 84 as resistance
RT @sdedoo: @eminiwizard Hi E. Amazing bounce. expecting one more wave 86 / thank u we felt short side tough today ..grind long til lunch
@smilinghiker thank u for rt
@sdedoo … wave 86 / we had 85.88 show up as t1 but i didnt believe it lol
@sdedoo rofl now we see this afternoon if bears still comatose from big meal
[08:44] E: characteristic of corrections: sharp rallies [08:44] E: long side today can easily test 85
[08:45] E: if entry area not right… no big deal
[08:45] E: find another
@enoehtoen bounce all we know let’s see where it closes and what happens this afternoon
@enoehtoen thank u … why anemic volume?
RT @yeeron: 20s attempt cable short closed BE earlier.No loss so play again. Re-shorted 16046 Aligning resistance across multiple TFs. / wtg
@yeeron any time u are hard worker , that I know
recoup any losses u had first if had to scratch and re enter same idea [13:36] E: 78 was resist til broken IB high
RT @eminiplayer: From 2day’s Trade Plan: “expected Opening Type is an Open Auction In Range” ..”expectation is for a Balanced Session” $ES_F
RT @MissTrade: Oil Jethro / lol
say yeehaa ib high test
RT @georgevhulme: @eminiwizard yeehaaa / lol george say hi to Matt D
testing support E: [13:36] E: 78 was resist til broken E: [13:36] E: so 77 support
dont get sliced and diced now
@zlmtb rofl thanks zlmtb [14:50] E: market very fair today [14:50] E: screw both sides
RT @BamaTrader: RT @eminiwizard: dont get sliced and diced now << ! ! ! $ES_F $$ / the primary trade was long… so cant ostay pb
@MissTrade lol shovel snow til end of feb then get the clubs out / naples
@MissTrade lol exhausted from putting with snow shovel … dont whiff as much anymore
RT @MissTrade: @eminiwizard good for you to see some real winter been 20 years or so! / remember the one in late 70″s.. not the one in 45
(LOL … “I was in swaddling clothes… who can remember?”)
RT @vader7x: place your bets.. roulette wheel ready to spin 30mins red, green, or black? $ES_F / keep profits and walk away an option
@TraderSmarts thanks Tony
@TraderSmarts @50Pips @vader7x thanks for rt … shorts on hook for beginning of month bias
82.5 demon is key for now
@smilinghiker thank u shorts still on the hook so flat here
E: [13:36] E: so 77 support … no need to get chopped up eod … approach angel .. capture and leave the party
if u buy the support… capture near 82.5 demon and leave party …
And the river that runs through Egypt still a factor…