Sometimes we need a bit of luck, don’t we?
It’s not like bells or whistles or lights go off at tops and bottoms.
8:07 E: so 46/48 potential first resistance zone and I think r/r poor for both sides, especially longs.
Common sense thought process: Trend is up, shorts against trend. Longs have had two solid days, maybe in op ex need to get a regression trade?
Truthfully, I can tell you the best parts of the chat are eliminated. If you want to learn to think like a professional trader, join us.
Price, Pattern, Timing, Psychology, Anticipating, Reacting.
The opportunity to study the Emini wizard system at a discounted price will slip away shortly. If you don’t make a committment to change what you know and how you think, why would you expect to get different results?
We guessed risk reward said scalp short late in the pre market session for the gap, and if lucky test 39.75 magnet, then 37 support.
The outlier target was 34, and we had that as secondary target, presuming a bounce first. Maybe more than a bounce, as the market has taken no prisoners lately on the short side.
34 we had as a critical support; if it let go trapped weeklies would be back in business.
8:55 E: nothing good happens for shorts until that 34 goes
“any day low” in reversal day” #EMWS
15:38 E: bingo 38 14:32 rain at 32 assumed support 15:50 out by 32.5 #EMWS hope u didnt get too complacent today about long side
28.25 near TWM hit quickly after hours.
Oooops exp always fun … bit.ly/XLuVfu #EMWS
When we get it right early, it is a day trader’s dream. We have the luxury of being choosy, or even walking away.
The markets we felt have shown amazing strength this week, but we hoped for a modest pullback, a breather.
Too many hanging on the sleigh, and it gets weighted down. Option expiration week as well as fiscal cliff concerns said Theta burn most likely.
Note the air on the daily chart, was it an important idea for you today?
Range trading was suggested for those who wanted to play beyond the first hour.
I was content with guessing right early, then protect profit mode. Hit and run range trading, and risk two to make two was the theme.
Short side was my focus, so I could hopefully get a trailer that ran, as we had several strong days up and today seemed to be a contra day as a high probability.
Relaxed with three of Taylor’s hits today.
8:36 E: I would like to think this is Taylor day 3
“Success is something we attract, by who we become.” – Jim Rohn
14:44 E: show me a better system and i will buy it
When Jesus spoke again to the people, he said, “I am the light of the world. Whoever follows me will never walk in darkness, but will have the light of life.” – John 8:12
Sometimes leaders need to be a follower…