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FWIW- There is software (of course FT 71 as he is willing to pay for all the toys) that uses info buried in the data to undo the algos that take a large order and break it into chunks. Thus he has a screen showing a line for activity for large orders (over 100 contracts). They were the run up at the end of the day yesterday.
Model:
Dir=+1
rng est=15.25
DDAuto Est
3015.25
2998.75
---my estimates:
H/L
3012.50
2996.75
up first and then down => dir=-1
range could be narrow and choppy (cabbage day).
I have low confidence in estimates today, with an unclear picture.
GLTA
Educational only and not trading advice (EO&NTA) Good trading to all
generally the pullback should be bought. likely it's just a range day.
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"Money is made and kept based on the math of probabilities, risk, and reward not because a trader is the smartest but because they are the most flexible and adaptable." [coolbizone didn’t quote the source]
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
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for now looks like breakout is more likely. Please note I didn't say breakout would be for real, it's just a breakout is more likely but real or false, will have to wait and see.
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Too much booze to trade today for me. the rising wedge is in play over all. internals are weak still but somehow the price manages higher. It's Friday just kick back.
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My comments are for entertainment/educational purpose only. NOT a trade advice.