Trading to win using the Secret Code of the Illuminati

Slippery Slope

Chart Patterns

Trading this market is not easy. Head fakes and stop runs have become the norm in this challenging environment, as the Boyz continue to persuade Mom and Pop to buy into the belief that everything is going to be ok.

Catching a piece of the move, and being satisfied, is like going on a starvation diet and being grateful for the meager meals we eat.

Ten point ranges intra day don’t leave a lot of room for zigging and zagging.

Our premise today was caution both sides. Longs had broken the 68 high yes, but they were still running into the resistance zone.

[08:39]  E: so my assumption is we need to be defensive about shorting even though we are at highs

[08:51]  E: and i again remind you

[08:51]  E: yesterday we had 59

[08:51]  E: broke by 1 point

[08:51]  E: then reversed

[08:51]  E: then we got overnight push

[08:52]  E: so similarly, we cannot jump to conclusions about this morning’s push

[09:15]  E: we think of the half gap play

[09:27]  Z: this is how the boys get everyone buying the earnings

[09:27]  Z: page one of criminal handbook

We chose 74.25 as resistance for a number of reasons.

[09:30] TC 89: 68.0 half gap

[09:31]  E: i would rather miss move than go long at this bo

[09:31]  E: just me

[09:31]  Z: I am inclined to wait before risking my capital

[09:31]  E: ty tc

[09:34] TC : T1 = 73.0

[09:38]  E: ty

[09:39]  E: dt can be 72.5 +/- 1

[09:39]  E: so the idea is

[09:39]  E: scalp

[09:42]  E: i prefer scalp short

[09:42]  E: and if i miss the move so be it

[09:43]  E: i think the market has shown resiliency

[09:43]  E: but distribution is a process

[09:44] GT 22: Guess right LOL

[09:48]  E: guess right is all we can do

[09:48]  E: buying high makes no sense

[09:48]  E: 69.75 = xxx

[09:49]  E: 69.25 = xxx

[09:49]  E: so take profits in the 69 pivot area

[09:55]  777: news in 5

[09:58]  E: react to news

[10:00]  E: off at 68.5 and trail is all u can do

[10:00]  E: xxx

[10:01]  E: half gap 68

[10:01]  E: break out 68

[10:01]  E: nice scalp if u took it

[10:01] 22: Nice call E

[10:02] 777: be nice to go get full gap and goose the dip buyers

[10:02] JG: yes, nice call E

[10:07]  E: this is a game of educated guessing

[10:17]  Z: no edge, no trade

[10:17]  Z: nice call on 73

[10:17]  Z: just call me reluctant today

[10:17]  Z: I know a scam when I see one

[10:19]  E: assumption is 66 support

Trapping shorts to advance has been a common theme, so we are conservative with exits.


[10:43]  E: 5.) Take trades primarily with the Main Trend by Add-ons

Our assumption was 66 as support today.

Half gap trade, thank you very much.

[11:32]  E: trend is up

[11:32]  E: into resistance zone 74.25  +

[11:35]  E: very tentative market

[11:39]  E: all u can do is scalp short

[11:39]  E: market is inching ahead

[11:39]  E: like inchworm

[11:40]  E: no one willing to hang onto the long side

Second shot… in the lunch time when the market took a fork in the road and knifed down…we have to be careful not to expect too much. One day we will get the plunger, but it didn’t seem like it wanted to do that just yet.

[12:59]  E: hard trading 2 hrs and go no place

[13:12]  E: lol

[13:13]  E: out at 68.5

[13:13] TC: none from what I can see

[13:14] TC : 12:21] TC : I like the xx rth chart xx

[13:15] TC 89: half gap filled

[13:15] 777: BREAKING Schwab to pay over $118 mln to settle SEC charges

[13:16] TC: drop in bucket to schwab

[13:17]  E: out by 68.5

[13:18]  E: i think flash trap

[13:18]  E: to middle

[13:28] 777: who is trapped…

[13:28] 777: shorts or longs?

[13:32]  E: the real ??? is…

[13:32]  E: can we play a high odds trade

[13:32]  E: and take it 2 x

[13:32]  E: and keep most of it…

13:43]  E: when 71 breaks

[13:43]  E: it opens door to 68  69

[13:43]  E: so now

[13:43]  E: we want t see how market reacts there 71

[13:43]  E: as potential scalp resist

[13:50]  E: now interested in 66 target

[13:50]  E: 5 rth

[13:50] TC : I’ve had a tough time getting orders filled today

[13:50]  E: this has been one of the toughest days i have seen

[13:50] TC : 2 many traders fighting for ticks

[13:52] TC : on the glo range

[13:52] TC : 456

[13:55] TC : tick hit -1129 on the flash down

[13:59] TC 89: good call on 71

[13:59]  E: out at 66.5

[14:11]  E: 72.75 demon

[14:11]  E: resist

[14:12]  E: 66 support

[14:12]  E: this is  $ taking

[14:12]  E: all we know

[14:23]  E: who can tell where momo shift comes?

[14:23]  E: it just does

[14:23]  E: and u can point to a play and say “there”

[14:24]  E: that’s the turning point of the ball game

[14:30]  E: i cannot explain these moves

[14:30]  E: any more than i can explain overnight mystery moves

[14:31]  E: just take the gift and run

[14:31]  E: and dont try to get last tic

[14:34]  E: we talked about this possibility of mirror day

[14:35]  E: higher hi then revert to middle

[14:36] TC : mirror image of yest and support at 66

[14:36] TC : and gap

[14:36] TC : gap was 50%

[14:39]  E: agree

[14:39]  E: when market plunges

[14:39]  E: meaning intra day

[14:39]  E: but not taking out the low

[14:39]  E: u have to respect the bounce

[14:40]  E: as possible V

Tom Williams was discussed, as well as charts by profilers Abby and Jason.


Steroids helpful for pole vaulting to great target 72.5

RT @ParrParr: ES_F 65.50? / half gap is 68

[08:16] E: so that 74 using as resistance if u are scalping short [10:00] E: off at 68.5 and trail is all u can do

just hit and run scalps all we can do really [09:15] E: hit and run kind of trading [10:28] E: and now we may get chop

“If the market give you a gift, take it and run”

trapped traders yum yum

71 was broken support so we have 72 resist now

[13:43] E: when 71 breaks [13:43] E: we want t see how market reacts there 71 [13:43] E: as potential scalp resist

[13:59] E: out at 66.5 and any low available now for trailer

@ParrParr wtg on the money

@ParrParr @hermitrader @TraderSmarts @FibinIt @B3t8 @smilinghiker thanks all for rt and posts

RT @TraderSmarts: $YM_F back to 3 pt range :) / like skiing down the bunny slope

@MissTrade lenny d … did he get to second base at least?


Did they get lucky… or was there more to it…?

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