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Trading: ES+MES+TechStocks as of 2022 Previous: ES GC CL [4MES2ES as of 2019MAY] and [4MGC2GC as of 2021JAN]
Posts: 454 since Jul 2014
Thanks Given: 281
Thanks Received: 389
W#5 JAN28-FEB01.2019
"D" is for "Decision"
SUN+MON = another reOpenGapDown @2663 LIS
WED = FOMC Day for 1st Meeting & Conference
FRI = NFP Day for Monthly Jobs report
240M Chart
RSI turned up above 50 on FRI but now pointing down, needed to hold up for new High. Bearish ABC T127%2588 (same pattern in CL... in correlation lately)
Bulls vs Bears were in play with their own setups and targets.
ITP.SwingL2331 keep as l/t Runner
Swing3rdExtLL2620 !2610Stop T2719
AddSwingDBottomL2616 !2592 Bulls LIS Stop
Bias is still Bullish for End-of-Month Window Dressing and First-Month-Closing in GREEN!
BTW, likely no intraday posting because taking time off this week for year-end house cleaning & preparation and then next week for eating & drinking to celebrate
Lunar New Year -- Year of the PIG (my Chinese Zodiac).
Find the missing piece of the puzzle... Let's be amazing, be awesome in trading today!
iTS
Can you help answer these questions from other members on NexusFi?
RSI turned up very slowly (unlike Lady Crude Oil) but the "Intention" Weekly Bulls setup already traded Monday; using anchor [2567.25-2677.75]=hwb50%L2622 T2707.
Therefore, reversed2ndHedgeS2671 to SwingL2622.
It's been holding down by Weekly PVT and OpEx Mean Line @2650; however it's also been coiling up as Bulls buying pullback last two days--look at Volume.
What's next?
Pay attention to Big Brother NYSE at open for potential trend day and awaiting FOMC for possible fail BO again? "Just don't bring a knife to a gunfight battle!" A favorite quote from TopStepTrader
Find the missing piece of the puzzle... Let's be amazing, be awesome in trading today!
iTS
Trading: ES+MES+TechStocks as of 2022 Previous: ES GC CL [4MES2ES as of 2019MAY] and [4MGC2GC as of 2021JAN]
Posts: 454 since Jul 2014
Thanks Given: 281
Thanks Received: 389
Post FOMC Day ♪♫•*¨*•¸¸. Music ♪♫•*¨*•♫♪
Did you get that hint? A knife? That's the lastHedgeS2673 with 2683 Stop for 10 points.
However, can't really take it off because too many Long positions... so changed it to BE; then took a chance to get out on pullback after announcement.
Took new SwingS2688 to hedge L2620 and L2622 that haven't hit targets.
Took profit SwingDBottomL2616 since it retested 2687 break-down point as shown on 240M chart.
Now, to break-out to new high or not after FOMC?
Find the missing piece of the puzzle... Let's be amazing, be awesome in trading today!
iTS
Interesting way to trade. I noticed Gartley type patterns and a lot of fibs and fib extensions which is slightly similar to when I tried out elliot waves and simple fibs. I got the Pensavento book, but kind of gave up and forgot about it for a long while. If you don't mind me asking do these patterns help with a kind of "predictive" indication?
Trading: ES+MES+TechStocks as of 2022 Previous: ES GC CL [4MES2ES as of 2019MAY] and [4MGC2GC as of 2021JAN]
Posts: 454 since Jul 2014
Thanks Given: 281
Thanks Received: 389
If you've read my introduction and history from beginning of the journal, then you would have known that I was about to give up Harmonic Patterns Trading ONCE.
Fate that I encountered my mentor who taught me the basic ABC patterns from Structural Trading, then her STZones Drawing tool that became Ultimate Drawing tool--the ONE indicator that helped me to predict targets to-the-tick. Of course, not without years of screen times, understanding the behaviors of "Drama Queen" plus predicting which Algo setups have the potential of hitting targets.
It's nothing new about Cypher and Shark in-play together but when they are together during the contracts rollover & anfinancial crises, then more likely it's amazing potential targets... I don't think anyone would trade like I do yet.
These are the most difficult patterns to learn but they are my favorite and I became an expert in trading Cypher pattern effectively with intraday trades as well.
Now-a-day, with new technology, new software... I think it's a lot easier to learn. However, don't try to learn ALL 10 patterns at once but just two with one instrument until you're good at it.
First thing first, learn the basic ABC and Fibonacci ratios upside-down, inside-out, then memorize ratios backward & forward--a knowledge MUST have before starting to learn Harmonic Patterns Trading successfully.
Trading kept me from going "insane" but Harmonic Trading was my missing piece of the puzzle that saved my trading career!
P.S.
Be careful, some softwares don't even recognize Cypher as a Harmonic Pattern.
Link to 'Trade What You See with Larry Pesavento on TFNN--talking about The Gartley's book
Best wishes.
iTS
Find the missing piece of the puzzle... Let's be amazing, be awesome in trading today!
iTS
Thanks, I'll look into it more sometime. I've been wanting to find another effective way of analyzing market structure than the old daily ranges, volume levels, simple fib retraces, and hi/lo's, etc. where I primarily trade intraday. Congrats on turning your trading around to success. Good trading.
Trading: ES+MES+TechStocks as of 2022 Previous: ES GC CL [4MES2ES as of 2019MAY] and [4MGC2GC as of 2021JAN]
Posts: 454 since Jul 2014
Thanks Given: 281
Thanks Received: 389
Hooray, mission accomplished!
Now what?
Why it's holding down @2712?
Remember that key level from previous posting?
Have you looked at 1440M chart lately?
Did I let new hedgeSwingS2688 got run-over today?
Too many questions before bedtime... so until next time... just enjoy this old song from Michael Bublé - Feeling Good
Find the missing piece of the puzzle... Let's be amazing, be awesome in trading today!
iTS
Trading: ES+MES+TechStocks as of 2022 Previous: ES GC CL [4MES2ES as of 2019MAY] and [4MGC2GC as of 2021JAN]
Posts: 454 since Jul 2014
Thanks Given: 281
Thanks Received: 389
W#05 FRI 2.01.2019
1stDayOfMonth
MlyNFP report
Wly OpEx T2725?
Wild Swing? Anything goes?
Surely wouldn't you put on "Safe Short" yesterday?
Otherwise, potential pullback could be buCypher ptD T71% 2600 if not BO of ptC T141% 2723.
Find the missing piece of the puzzle... Let's be amazing, be awesome in trading today!
iTS
Trading: ES+MES+TechStocks as of 2022 Previous: ES GC CL [4MES2ES as of 2019MAY] and [4MGC2GC as of 2021JAN]
Posts: 454 since Jul 2014
Thanks Given: 281
Thanks Received: 389
As promised from previous posting below, here is the attached RTH chart with T2712 hit...
In addition, the Down Trend Line is exactly @2712 on 1440M chart.
That's the level holding down yesterday, but today it's all about Bulls attack after 10amET.
First time for a long time...
I couldn't find any valid reason Why ES reversed up at WED @2612.50 LOD other than failed break-down after retesting low
Note: found one other reason on RTH 30M chart but didn't really think it's …
Find the missing piece of the puzzle... Let's be amazing, be awesome in trading today!
iTS
