Easy as Pie
Trading the markets are as easy as pie.
Nothing to it, just short the highs and buy the lows.
Determining where they are is the hard part.
[09:19] E: both sides available today
[09:19] E: accept stop outs
Next few posts will be brief, as we are getting ready for vacation mode. That means Pie a la mode, since work grows exponentially right before travel.
What was that all about? Today’s roller coaster ride.
[08:31] E: we should get roller coaster
[08:32] E: this is all done in low vol
Shorts who think that we can close our eyes and all will be well are forgetting one thing: the Boyz.
Longs who forget we have had a significant plunge, are not paying respect to the nature of this sell off: it has been brutal and furious.
@Bamatrader nailed the target low for the Boyz Defense: the 1321 area.
+/- a point or so in our opinion, as we call it the crayon line. We are not as confident as most traders are about any one exact support number. We believe in dynamic pivots that continually shift throughout the day(s).
[08:25] E: retesting the 39.25 is poss as an idea premarket
[08:26] E: so thinking premarket longs like to get 38+
[08:26] E: but probably not more than that 39
Primary trade was long, so shorts were contras in our opinion.
We had half gap as hoped for target, and prepared to be stopped out early. When the Demon triggered, the 32.75 target was already defined, and then the gap if 32 broke.
The 28 zone was thin ice, but common sense said take profits below that, and gifts to 25/26. If shorts could contain the bounce, then the second thrust we felt was for testing yesterday’s low.
My plan? Short and hit bounces at the open.
[08:32] E: generals will back up the train and say u not going without me
My safety valve for my emotions? My being too greedy?
[11:33] E: can only be greedy for so long and it catches up to us #EMWS
I took a walk. We don’t have to be here 24 hrs a day. Let the lunch bounce materialize, then choose how to play it.
The dynamite triangle said test high again, with risk to a new high. Fine. Short it and accept stop out if it happens.
The longs need a pb by eod, and we are at the rainline.
Mr greed starts whispering again as the demon triggers, the 34 melts, and the 32 tested once more.
Target achieved, trailers for the magnet at 30.63. More is a gift, and on fumes.
Easy as Pie.