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target day high possible. right now still cannot say it's range or from now on trend is up.
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Once again nothing but wicks and tails at ES 2716.
Fed minutes, in my worthless opinion, will be carefully written (remember the actual minutes are embargoed for like 20 years) to assure the market that a lively and active debate about rate increases is underway. This, of course, to a significant extent is smoke and mirrors. The elephant in the corner is the balance sheet, that is the stopping of the global liquidity pump. So far it is destroying the Italian and Turkish economy and of course the crisis will spread. Bet a beer this problem will be buried in the footnotes if it shows up at all. At some point in the future a journalist will write that no one could have foreseen the European banking crisis caused when the central banks stopped printing money.
you see it briefly hit the sell zone (red arrow)? This is the concept of trading a range, all you have is a zone, so don't come and say that I'm wrong on the range high target, I'd be really pissed.
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May I say that people who are paid to talk about trading are all in agreement, with a range you sell both edges or you will blow up your account. Anybody who argues about it is simply lacking in experience or worse is bull headed ignorant about what they don't know.
You divide the range into 4 parts. Some divide into 3 parts, but I think only 4 can guarantee the risk reward is 2.
You buy in the lowest 1/4 zone and sell in the highest 1/4 zone. ZONE, ok?
So the entire trade is, right, based on guess, no technical, and this is why I don't like to trade a range day but unfortunately most days are range day.
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PastaBoss - I have tears rolling down my cheeks - omg!
I so incredibly appreciate this forum, its members, and Cobra. It is one of the RARE forums of any type that is civilized, informative,supportive and respectful.
In honor of FOMC at 2:00, I am calling anEARLY HAPPY HOUR
Please note that this bear is just testing the limits. He wants food/fuel. Both ears are tagged, so he will be identified and shot dead if he gets toooo frisky.
no surprise: zh opines bear
“…these could be the first FOMC minutes in a while which have an outside market reaction, and with the Fed potentially set to remove the market's training wheels, stocks may not like it.” https://www.zerohedge.com/news/2018-05- ... to+zero%29
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
1der wrote:PastaBoss - I have tears rolling down my cheeks - omg!
I so incredibly appreciate this forum, its members, and Cobra. It is one of the RARE forums of any type that is civilized, informative,supportive and respectful.
agree, luv u boss
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
mini roller coaster show in 2 minutes, so far we're in a range.
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