Castle of Angels
Angels fly, even with broken wings.
Just ask the shorts who thought they had great position going into Friday’s trading day.
After a rout on Thursday, who could argue with the logic of MATD?
Still, somehow it’s hard not to notice that the past five years have made it hard to believe in the short side.
Sequence traders are always on the lookout for reversals in fortune. Guarding against over-confidence, we look for an edge, and try to capture a piece or two of the day’s move.
Singles and doubles, and an occasional round tripper complete our style of trading.
After a glorious week for the shorts, with a roller coaster ride thrown in on Wednesday, it made sense to play conservatively Friday with an expectation for a profit taking bounce. I thought primary defense was 72 to 75 zone, but the 79.75 magnet just missed being tagged in a late day momo move. I often under-estimate the power of the Boyz when they squeeze.
The leftover target of 56.5 as wT1 was hit pre market, and never revisited.
Sloppy and careless play hurt traders both sides this week.
Friday’s videos. Unfortunately the late day videos were corrupted and lost sound.
The last one included is admittedly hard to hear, and apologies for the inconvenience.
Premarket we will test 68+ today
Stolen range accept gifts, get paid
MATD Nothing to do but take the trade and get paid
Gap fill be disciplined
Yesterday’s low support until broken find one good trade a day
55 aggressive support singles and doubles
Expecting Boyz to jam by EOD cannot expect too much short side
Be conservative don’t try to force short side today
Don’t be Stubborn think bounce
Lunch consolidation , key is closing
Protect myself from Charlie a bird in the hand…
Last to leave loses profits shorts need to be forced out
Breaking out of jail squeeze pivot is 62.75
Squeeze pivot identified no rotations back, shorts caught
Sneaky Pete can be found in our criminal handbook
72 to 75 likely resistance zone, any day high available including 78/79
Humbled by member comments, and most appreciated. Thank you!
“I often under-estimate the power of the Boyz when they squeeze.”, and I play this clip constantly to remind myself of the flight of Angels …