Run Rabbit Run
Into August already.
The Dogs of War are playing.
So are swing traders.
Plunging was the last thing I expected today.
Once a move is underway, all we can do is play the odds.
What I thought originally was a key battle, turned out to be no contest.
99 gave way easily, and the Umbrella opened up.
Short side bias was to neutralize the games that were played EOD Friday.
The 85.25 zone was where we left off…
… then we had a late day squeeze, 92.5 close, 88.5 Settle.
Today’s open was 88.5, low print of 99 overnight.
What to do?
[09:23] E: 1307 important resistance
[09:25] E: agg resist at rain
[09:25] E: call it 1303/4
Target 92.5 gap, 92 breaks, we can go to any low.
The rabbit dives into multiple holes, including 88 test, then 76.75 gap is filled/ natural at 75 and small bounce, all longs out by 85 for second leg and test 72
[10:34] Janelle _: real virtuosity in calling the market in these fast conditions, E – always impressive
[11:05] E: 72 targ [11:39] E: 72 bingo yeeehaaa #EMWS
We suggested multiple scale outs, and get back into waterfall if took profits already.
We did not like long side until lunch time, and then only as a contra.
@TraderMD @CGinthehouse @iancaseydouglas @FlowTraderES thanks all for posts today on #EMWS much appreciated
“House just passed”, we have a violent storm here, looks as black as ink and it’s 7 pm.
Last time I saw a sky like that, we had a tornado.
Storm shelters come first before I stick my neck out.
For what it’s worth…