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Isn't it amazing that what seemed to be a disorganized collapse reversed dramatically exactly where it should according to geometry??
JA
jarek
Rep: 94
Posts: 3,474
Here are two interesting long term charts of main indexes:
Isn't it amazing that what seemed to be a disorganized collapse reversed dramatically exactly where it should according to geometry??
Isn't it amazing that what seemed to be a disorganized collapse reversed dramatically exactly where it should according to geometry??
JI
jimkane
Rep: 3,058
Posts: 33,089
Yep. What a great scalp opportunity both up and down. Look at 13 and 34-tick charts in the 'context' of your chart, jarek, and wow, what golden opportunities, in my opinion. What a day!
JA
jarek
Rep: 94
Posts: 3,474
Yes - this was a great day for the methodology.
This week we handily broke the previous record in number of posts in the weekly thread. Good job Jim and the crew! I'm out tomorrow - good trading!
This week we handily broke the previous record in number of posts in the weekly thread. Good job Jim and the crew! I'm out tomorrow - good trading!
JI
jimkane
Rep: 3,058
Posts: 33,089
Yes, great stuff. The post count is because I broke my prime rule of no posting during the first half of the trading day so I can focus. With the meltdown and volatility I decided to try it for awhile, since I saw many 'teachable moments' coming. My mornings in here may not last, but I'm doing it for a little while. The minute I feel it is interfering with my ability to do what I need to do, I'm backing off.
Now, for those that don't grasp the importance of the intermarket dynamics I'm always talking about, look at a chart, say a 15-min, of the GBP today, from the ES GLOBEX high. Now you see what led the ES into a selloff. Boy, oh, boy, is Europe in trouble. When you have a house of cards it only takes one mistake, and poof, it's gone. That mistake could come any time...
Now, for those that don't grasp the importance of the intermarket dynamics I'm always talking about, look at a chart, say a 15-min, of the GBP today, from the ES GLOBEX high. Now you see what led the ES into a selloff. Boy, oh, boy, is Europe in trouble. When you have a house of cards it only takes one mistake, and poof, it's gone. That mistake could come any time...
DU
Duane
Rep: 100
Posts: 1,095
Not Globex but that is a 350 pip move. Notice .685
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JI
jimkane
Rep: 3,058
Posts: 33,089
Duane! Cool to see you.
The killer thing for me was how that pullback was at a quadruple line convergence I had, at a .447 within one pip on the futures contract, and with an awesome entry signature move and trigger I cover with the mentor students. It was fantastic. Hence my comment the other day about simply giving up sleep, as this market never sleeps...
There is one thing for people to consider, if you find yourself in this situation too often. Find a business/trading partner, and create an arrangement where one trades the day shift, one the night shift. That way nothing is missed. You can even set it up such that you aren't splitting profits, but, if you had the right person you could trust, you both trade both accounts. Imagine the potential in that, with the right partner. Just something to think about.
The killer thing for me was how that pullback was at a quadruple line convergence I had, at a .447 within one pip on the futures contract, and with an awesome entry signature move and trigger I cover with the mentor students. It was fantastic. Hence my comment the other day about simply giving up sleep, as this market never sleeps...
There is one thing for people to consider, if you find yourself in this situation too often. Find a business/trading partner, and create an arrangement where one trades the day shift, one the night shift. That way nothing is missed. You can even set it up such that you aren't splitting profits, but, if you had the right person you could trust, you both trade both accounts. Imagine the potential in that, with the right partner. Just something to think about.
