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

  #911 (permalink)
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ES offered a nice day to go long. Never could take out A

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Pimped my avatar some. It was between that and a meditating frog.

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Long trades are not that fun. That is part of the problem. Not just in that they are not exciting, or entertainig, but they actually bring discomfort. We do not like uncertainty.

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This is a MP imprint I don't get yet. It has a single print section that suggest it will see repair. But it also ran headfirst into a major resistance zone and did it with a trend-type day. I have had several occassions of my trade understanding fighting with MP, and this is one of them. I would have shorted CL hard if I saw the same thing and ES would turn, but it wouldn't... Some days I have almost despised ES when it would not let CL do it's thing. Not today. Today I just accepted that ES was going to blow the high and I was a day early, if right at all. Not only is there the right setup in the right area, but there is the right time of day to do it in.

The day type says there should be buyers ready to react. The higher view says this is a make or break area. My hunch, wish maybe, is down. But it will do what it does. IF it moves down, the target is 88.50. The 94.50 area, spreading itself across at least a 50 tick swath, could stay a topic for awhile. It is one of those places. The last time I felt this strong was the last major bottom in crude. The shitty part is, that does not mean it will happen. That part you never know, but the where, is here.


Last edited by GaryD; April 10th, 2013 at 05:44 PM.
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This is a MP imprint I don't get yet. It has a single print section that suggest it will see repair.

I guess most all areas of low activity (single prints included) eventually "fill in" or "repair," but who knows when that will be? Sometimes we will have a low activity price range that is traded through multiple times, continuing to reject, but I don't know if there is an implication that it needs to be "repaired." Actually this is something I've been curious about recently. Maybe @Private Banker can give his $0.02 on this topic, I would love to hear it.

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This is a MP imprint I don't get yet. It has a single print section that suggest it will see repair. But it also ran headfirst into a major resistance zone and did it with a trend-type day. I have had several occassions of my trade understanding fighting with MP, and this is one of them. I would have shorted CL hard if I saw the same thing and ES would turn, but it wouldn't... Some days I have almost despised ES when it would not let CL do it's thing. Not today. Today I just accepted that ES was going to blow the high and I was a day early, if right at all. Not only is there the right setup in the right area, but there is the right time of day to do it in.

The day type say there should be buyers ready to react. The higher view says this is a make or break area. My hunch, wish maybe, is down. But it will do what it does. IF it moves down, the target is 88.50. The 94.50 area, spreading itself across at least a 50 tick swath, could stay a topic for awhile. It is one of those places. The last time I felt this strong was the last major bottom in crude. They shitty part is, that does not mean it will happen. That part you never know, but the where, is here.

The single prints can be filled in but when a market moves fast through an area like that, it can provide a similar fast move in the other direction. As Josh mentioned, not all areas will be repaired. What I like to do when there are two clear distributions in a profile is split out the afternoon distribution and almost treat it as another session. Reason being, there's really nothing in between. Obviously balance equals acceptance and single prints are rejection areas which is why its helpful to split the profile out in that way to provide more reference for the next session. Hopefully that makes sense.

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I started to see that open zone in CL that reappeared 4x recently, and had thought before that 94.50 was the line for staying short, so today has been a long story unwinding for me. If if were not 2pm I would be short as hell right now.



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The single prints can be filled in but when a market moves fast through an area like that, it can provide a similar fast move in the other direction. As Josh mentioned, not all areas will be repaired. What I like to do when there are two clear distributions in a profile is split out the afternoon distribution and almost treat it as another session. Reason being, there's really nothing in between. Obviously balance equals acceptance and single prints are rejection areas which is why its helpful to split the profile out in that way to provide more reference for the next session. Hopefully that makes sense.


Yes, that does make perfect sense to me. I don't know if you saw that I did the opposite at the recent bracket, merging the profiles. What are your thoughts on that?

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Obviously balance equals acceptance and single prints are rejection areas which is why its helpful to split the profile out in that way to provide more reference for the next session. Hopefully that makes sense.

In that case what do you do with F period? My thought on this situation is that since the day type is "trend", go with that sentiment on the singe prints of F. Assuming competition drove it higher at that speed. The only caveat to that being that there is competition in short covering. But, I guess they are competing with other buyers regardless?

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Last edited by GaryD; April 10th, 2013 at 10:33 AM.
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shorted the Y close area, one off. I am going to lean on the H&S theory until proven wrong. Intermediate trenline held at the open, which is against me, but there are two big event today and I am expecting somewhat contained movement ahaead of that. Opening in the singles of the DD day and returning to the approx PM split value area...

I also got a bar that I am starting to understand on VL.

And, a part of me is a little disappointed that I could not short yesterday, the plague of wanting to relive a trade. (I can tell also because of the 2 entries, the first was impatient.) But I am aware of that and still am ok. The rejection was 1 tick above the LSP, and price came off 100 ticks overnight, in my mind rejecting that afternoon value.


Last edited by GaryD; April 10th, 2013 at 10:52 AM.
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