Keep it simple.
The love story continues.
The Emini wizard System is alive and well.
Our most simplistic notions work the best.
Solid, reliable high odds trades day after day.
Objective criteria prevail over our subjective thinking.
The umbrella pattern intact, so stay with playing shorts.
E: “You want to know something? We are still in the Dark Ages. The Dark Ages–they haven’t ended yet.” Kurt Vonnegut, Deadeye Dick
My bias was slightly long today, but tape reading allowed us to see reality.
I refrained from posting a lot on Twitter today; yesterday seemed to be an emotional day, with residual tension so I passed.
@Nirav777 @TraderSmarts @GiorgioCalosso @jotuk6771 @jediphone Thanks all for posts on #EMWS today
I was surprised when the market gave up the 45 so easily, so we thought hang onto trailers for the Angel test.
When news comes out, conservative traders should flatten out, and if re entry is taken, target becomes test the 38 low.
I liked the 33 target, and suggested t1 at 36.25 should be respected, with stops taken on trailers.
The sharp Angel formation led the push for the retest, and we thought it would challenge at least 44. Suspicious minds thought 48 as resistance for the profit taking sequence as the RTH Demon was hit.
Since we were making lower highs and lower lows, we thought let the market chop for lunch, and come back with one more short from the 43.75 marker in a descending triangle.
Key was understanding the long way home trade, and T2 at 30.5 as the potential extended target.
Primary target was 33 to 31.25, and dont be afraid to get out of dodge in the 32’s.
Many traders study Market Profile and complicated systems.
I find it easier to focus on sequence trading and allow for some wiggle room as the market ebbs and flows.
That’s one resason we like hit and run in the direction of the flow as we perceive it.
Today’s plan was hit bounces, accept stop outs. Be conservative, protect profits from the week.
Thanks to Triple Seven for his kind words.
“@Freedtrader: @indianbuckeye @Nirav777 The guys on fire.”// thanks all cause I had great teachers @vader7x @eminiwizard @_lakai_
There is a well known trader with a huge following who just posted “markets are random”.
He never responds to my posts, so I will just say it here.
We all have blind spots. His is that he believes markets are random.
When traders understand market structure, they know better.
best trades in the book still half gap and gap trade from the overnight high #EMWS
target achieved 31.25 and any more is gravy 30.5 T2 today #EMWS
I don’t know what my blind spot is.
None of us do, that’s why we need help from others to see it.