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New phone for some reason deleted my follow to this board lol
Thats a huge base and this is alot smoke its leaving behind…
Some kind of top forming on the daily
Yep, 3 day balance from the highs… it should head for 5630 area monday/tuesday. Top to bottom to too
Between 590/660 i think is where the seller is sitting… next shorting area is to see reaction betwen those two #s reaction.
Anyhow. NQ looks alot weaker… not going to short the stronger of thr teo between ES and NQ.. so i’ll be more focused on NQ anyway to lok for 20k and below
Im thinking of this as a large ABC, a great EW trader that has been on point since i followed him since last year says 5 waves are in but he is awaiting and likely got it friday that the NQ is going to retrace at least to 19800
I see that as reasonable. Its a balance area of interest for bulls.. he doesnt assume and uses supply and demand + market structure to help him confirm his EW bias and not just blindly take trades
Market in range now, lets see if 5500 ES gets tested in comjng weeks
Most engulfing red candles this year not had any follow thru… have to see if globex makes a new low and recover or it continues to sell
Should bottom today… trin in panick mode
I took on a 100k challenge acct and just finished it today.
I think i’ll use these as some kind of backup or do trades that i think will work. Im alot more careful with cash account, but im gonna treat this one as more loosely on risk
I took that breakout off the triangle of YM after lunch… great breakout trade setup… it was a clear triangle when it broke and i had no choice but to chase… had tight stops which worked well
YM finally acting bullish up here… guess this is the real rally.. it shouldve sold off up in this 39800-40000 area but is holding it well today… new base established
Bullish market.. this is what it translates to ool
Welp… wrong
Stopped
All good. Only doin it once lol
For the YM anyway, thats what i shorted since i missed the long this morning, stops now at BE, got lucky at the top lol
1pm pullback incoming me thinks
Happy july 4th jerry!
Look back around last November or so… market did something similar…. Rally jept going after the consolidation
Daily chart still in consolidation… no break of structure yet
Im already short but i have my SL at BE
Using friday’s opening as resistance… should be back to 32-31 soon and see if it breaks
Yea still gotta break 48-50 before bottom in… actually it has alot of work lol
/GC looks like a short to lower lvls… break previous lows likely this week then find buyers under that
Oh yea… i totally agree with this statement. In this logistics business right now.. its not a normal election year… usually its booming but this year is still crap
Definitely caught this quick short of triple bagger from that 5530 drop to 5519. Didnt hold any runners lol
I wouldnt hold long into this weekend… i’ll say that much… i looked back at these weekly closes near the BBs almost always has a pullback
Break weekly open then sure
Weekly open held
Hmm… this doesnt setup a good july 4th ool
He did talk about the weekly BB being extended on tuesday. This market sure is a strong bull
NQ looks like it wants to retest those previous lows based on the 4 hr chart… i took the loss on those calls i bought. Didnt take profit on the pop as i was expecting a rally from today’s base… with this NQ break overnight… maybe fill the NQ contract gap
Welp.. time to add more. This is like a lucky roll…
Lucky me
Bought right before it rallied at 5535 ES lol
Compression move tomorrow and friday… i guess 5600+++ is inc
I have some options that expire friday EOM. Would love a gap up overnight
From what im seeing… bears having a hard time… i’d like to see a quick dip and recover… thats more ideal
7 days or so then new highs right? Something lile that
And there it is… maybe late day rally to overnight highs is my guess… flagging hours right now… slow but steady
They gonna squeeze these guys during lunch im assuming
Though another low would be preferred to end these hard sellers right here