The volume profile yesterday was a block so the potential is there for a fast hard fall. We are above it but we all saw how quickly it moved up on that 6 AM tweet.
So we wait for 2672 to be in the rear view mirror knowing that a slip could have this market drop back to 2640.
victorm wrote:we are out of huge consolidation, I would not short, those wiggles are too short to catch ....
Has to close above it and then confirm otherwise it is hot air/bull trap.
that's where you going to lost 30% of move at least. You are going to buy when I start thinking to sell. Get out of this heard concept otherwise you will earn peanuts...
60 minute showing the last two times ES was this high. I added normal volume box at the bottom because the Emporer's speach was extreme volume for the middle of the night but not equal to a US market spike. Those trend lines aren't hand drawn, they are machine drawn regression channels. I am no good at channels.
victorm wrote:we are out of huge consolidation, I would not short, those wiggles are too short to catch ....
Has to close above it and then confirm otherwise it is hot air/bull trap.
that's where you going to lost 30% of move at least. You are going to buy when I start thinking to sell. Get out of this heard concept otherwise you will earn peanuts...
LOAD UP on the longs my friend since it is "out of the huge consolidation."
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Could be a flat to down bias for the next half hour because those London/Frankfurt day traders have a had a really great up trend day and it is time to start cashing in before the end of their day.
victorm wrote:we are out of huge consolidation, I would not short, those wiggles are too short to catch ....
Has to close above it and then confirm otherwise it is hot air/bull trap.
that's where you going to lost 30% of move at least. You are going to buy when I start thinking to sell. Get out of this heard concept otherwise you will earn peanuts...
LOAD UP on the longs my friend since it is "out of the huge consolidation."
Not sure what you mean by I would have lost 30%. If it closes ABOVE the consolidation area today and you enter tomorrow when it moves above today's high how is that equal to losing 30% at least?
Also, how do you trade breakouts?
Last edited by Clueless on Thu Apr 12, 2018 11:11 am, edited 3 times in total.
victorm wrote:we are out of huge consolidation, I would not short, those wiggles are too short to catch ....
Has to close above it and then confirm otherwise it is hot air/bull trap.
that's where you going to lost 30% of move at least. You are going to buy when I start thinking to sell. Get out of this heard concept otherwise you will earn peanuts...
LOAD UP on the longs my friend since it is "out of the huge consolidation."
Not sure what you mean by I would have lost 30%. If it closes ABOVE the consolidation area today and you enter tomorrow when it moves above today's high how is that equal to losing 30% at least?
Also, how do you trade breakouts?
I am guessing he prefers to buy near a reversal from the lows or during the consolidation range, so when the breakout happens he is already in, from lower.
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