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Like a turtle to his balcony...
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Like a turtle to his balcony...

  #1021 (permalink)
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Deucalion View Post
Not convinced this is any sort of panic selling.

Gold looked like panic to me. I have not seen an impulse like that for awhile. Of course, I keep my blinders on most of the time.

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GaryD View Post
Gold looked like panic to me. I have not seen an impulse like that for awhile. Of course, I keep my blinders on most of the time.

For sure, on gold maybe. I can see those saps holding long gold - it must have felt like the end of the world. But lets be objective and look at a real market (a mature market, like the ES) to draw some fair inferences. Until the Boston news this was a controlled wave expansion, and then its turned into a sell-off. The impulsive sell on ES was there since last week.

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PS - The ES typically settles between minimum and typical wave targets, very rarely going to max wave amplitudes (that seems to be the nature of this mean reversion beast), except in news driven or extenuating circumstances, which today is. It is clear to me that today marked two separate behaviors on ES, one was typical and the other was external factor. It doesn't fit into a blind selling day per se, or panic.


Last edited by Deucalion; April 15th, 2013 at 07:27 PM. Reason: Added content
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I am going back through the market profile study guide one more time. Almost resumed Mind over Markets, but wanted to drive home some info first. And, having now flipped through Market in Profile, I might be more drawn to that after I go back through this one.

I am still scalping for the most part, but I can feel a greater sense of expectancy developing as I read at night and on weekends and then watch that new understanding come to life when the market opens again.

Some of the parts seemed way too obvious at first, like (quasi-quote) "if price cannot take out the single prints, hold the position..." OK, but that is no different than saying if your stop does not get hit stay in the trade, I think to myself, with way too much sarcasm.

But as I keep going, I am seeing that putting new layers of terminology to the motion I already know is really having an exponential effect on my level of understanding. And changes my perception of time, particularly as it relates to getting into a trade.

I did change my avatar again, the pirate flag mockery was fun, but I have found something that directs my attention and harmonizes with what I am working to accomplish right now. A little Photoshop spun the flow of money into sand back to sand into money. One grain at a time, slowly filling the lower half. The better I can relate to time, the more accumulates.

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  #1024 (permalink)
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Gold is so amazing to watch right now.

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Last edited by GaryD; April 15th, 2013 at 09:50 PM.
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Here comes the test of the November low.

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86.61 is level 1 exhaustion, aka Xfib1. I have two levels I would buy overnight. That is one, and the other is 85.29. Watching for a reason.

No, I can't read this. I was long 86.46, but what good is it to develop skills at reading the market and then trade when most of them are useless? And if it hits 90.00 with no heat, that is mostly luck.

I did trade some last night, ended breakeven. Probably luck as well.

Tomorrow will be a good day. Gold is trying to develop value, and if CL comes out of this it will have plenty to go around.


Last edited by GaryD; April 15th, 2013 at 10:32 PM.
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Meanwhile, CL is so far out of value I have no reference for risk. Fib lines are taking 2nd position to value.

I closed this post and leaned back, went back to being zoned into the movement. But then I grinned, big, to the point where I can feel my face flushing. I am moving forward, was my thought. Unstuck.

And volume ladder is green eggs and ham part two. It so, "visceral", Mr @Deucalion. So happy to be back.


Last edited by GaryD; April 15th, 2013 at 10:41 PM.
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I think, in retrospect, I was so shaken by my real estate bankruptcy, so survivalist in my start into trading, that the whole thing was built from pressure. Whereas now it feels as if it is built from passion? I no longer feel like my study is necessary, I feel like I am looking forward to it. I no longer feel like a martyr, but a rebel. I am just really enjoying life, and trading is something that I find magnetic, stimulating, fun. And I want to learn more about it. Like a kid again.


Last edited by GaryD; April 16th, 2013 at 12:09 AM.
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Even dressing up as a pirate.


Last edited by GaryD; April 16th, 2013 at 12:10 AM. Reason: more serious to me
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CL is running a correlation that is very apparent in the nigt volume. The reaction lag is only a few seconds, less than a minute in most instances.

I thought gold was developing value, and it was. all the way up at least $20 from that thought. SD1 become support, and boom.

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