A reminder from the evening of the 23rd, when prices were much lower.
[21:38] <CM> 1250 2350 12000 within reason for bulls. Everything except the kitchen sink was thrown at this market, and it still favors the bull, which means continue to look long and keep an eye out for a surprise Dow 3-400 sell off this week.
Some scoffed, some snickered, but they do not read charts the way I do. We got the 1250 and the 2350. YM hit 11880 (120 off) then sold off to 11620 (actual 260, or 380 with the 120 miss). Fuzzy math, but then the market is fuzzy to many now.
Today, the focus was on shorts. A short BOT BO, EMA resistance, a bull channel, and a pennant that broke to the continuation side.
two charts tonight, hopefully to direct your attention to key areas that often allows new entries in a dominant trend.
SOME THOUGHTS TODAY:
[09:50] <CM> first pb es b3-4 ema failure would look for more selling
[09:50] <CM> nq too
[09:51] <CM> YM roughly 880 to 680 is 200 of the "look for" potential dow sell off of 3-400
NEWS PLAY
[09:58] <CM> 2mins til news release to the masses :)
[09:59] <CM> bracket long 1238.75 short 1235.5
[10:00] <CM> +2 out
MORE EARLY THOUGHTS
[10:11] <CM> downside risk to mkt bull TF 705-710 NQ 2335 ym 11635 es 1218 buyers can enter at any time to distort but this would be worst case to longer term support
CHARTS
EMA failed to go into the Upper Trading Range UTR) which is the Long BOT +. PA stalled at the LB and reversed to the opposite target. The Short BOT BO ran for the targeted +5 +10 +15 levels.
Note the Bull Channel that developed inside a pennant. Market broke to the continuation side for another +10, a target we discussed in the chat.
YOUR NOT A SUBSCRIBER
For those that are not subscribers, you missed the BOT Ranges and the BO Levels. This chart is for you. There are additional areas that can support a trade entry.
From left to right: LB Reversal; SBBO; 50CB and EMA failure; Channel FBO; Pennant FBO; then EMA resistance and a MAXT.
No comments:
Post a Comment