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I know this potential drop of 10% in a couple of weeks is hard to conceive for some. But I can't find a better explanation for the corrective nature of the March-May rise
JA
jarek
Rep: 94
Posts: 3,474
Here is the update of my longer term ES chart:
I know this potential drop of 10% in a couple of weeks is hard to conceive for some. But I can't find a better explanation for the corrective nature of the March-May rise
I know this potential drop of 10% in a couple of weeks is hard to conceive for some. But I can't find a better explanation for the corrective nature of the March-May rise
JI
jimkane
Rep: 3,058
Posts: 33,089
I have to be honest, I love this. Sold off a big area this AM, ran up off a big area after that, right to a spot I was waiting for, and sold off that. Now, that's pretty cool, I think.
JI
jimkane
Rep: 3,058
Posts: 33,089
Wow, this is messing with the LOD and Monday's LOD. This is just awesome.
JI
jimkane
Rep: 3,058
Posts: 33,089
Notice what crude did when the pit closed, right at my area? Stopped dead and did nothing either way. I watch for this if I happen to be in a play.
TX
tx_ches
Rep: -10
Posts: 514
NEM 5 minute.
Couldn't hold above ML on either attempts.
Couldn't hold above ML on either attempts.
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JI
jimkane
Rep: 3,058
Posts: 33,089
Where a vicious snap up occurs...
Originally posted by jimkane
Okay, ES back to that crucial TL area.
JI
jimkane
Rep: 3,058
Posts: 33,089
This may be redundant, but I want to make a comment here. I don't post for my health, especially when I post a fair amount in a row, like today, which can be very challenging when I have live, open positions. I usually do it when I see a sequence of things that I feel have great teaching potential. I don't make trivial posts (by my definition), I try to make every post for a specific reason. I have things I'm trying to get everyone to see, to focus on.
One does have to have the basics down for the methodology to follow this. If not, the posts should at least help focus the work into certain areas. Here's more of my points. When I post specific levels I usually get voted right up. People seem to like that. It is specific. That's great and all, but to me, the things I posted today that were the most important got zero votes. Here's some examples of posts that I felt were very important to something I was trying to show:
"Understand, though, very short-term this is now at the extended point again. It's not trending strongly, it's almost range trading in here with a downward slope." What does this mean? What does it look like visually? Why is it significant?
"This is just sitting on a key TL... It better be very careful." Why should it be very careful?
"Up like a rocket for a bit???" Why? What's the area/reason?
"Watch this 1-min downsloping TL and the 'squirt effect' when if gives way." What is the 'squirt effect'?
"Notice the reaction? Right back in to the .382, which stops it dead, and then back up. Now, that's a clue, right?" Is it a clue? To what? Why did I mention this right at this time? What is the need for clues here more than anywhere else?
"Now watch here and see if this was one last push, or if this is a trend move." Hmmmm, last push or trend move? What's the difference? Why do we care? Why ask that here?
"But note the KZ off the HOD coming in here..." Is this critical? Is there a convergence there? What's the 'context' and bias at this point? What can this area tell me?
"ES look unstoppable, as 18-19 looms." This post was crucial. Why did I post this? What is the point? How many times have I discussed this concept???
"Here's something to think about. They have me so terrified of the short side right now, I can't even imagine shorting this. Ponder that." And this one was ten times as crucial as the last one. This was the post of the day. This tells the story. It got zero votes and zero comments. Even after I follow it up with: "Are you pondering???"
"Really saw their intentions on this one." Why am I pointing this out?
Why am I reiterating this? For fun? Was the intention to brag? Not at all. That was not even in the back of my mind. Once again, why am I reiterating this??? Why did I make a few reminders about it?
"A push to 18.50. Now what? I think I have an idea." I'd been waiting and waiting on this. Now was the time. What is my idea? Is this a shorting level, or an area just to watch for long management? What's the setup? How many lines were converging at this spot? When is an area for management and when for playing against?
"Wow, this is messing with the LOD and Monday's LOD." Why am I pointing this out? Seriously, why did I choose to mention this right here?
Now, every one of the above posts got zero votes, and yet I think every one had a very specific, very useful reason for being posted. People post charts and they get lots of votes (charts are good, don't get me wrong). But there is a message, a clue, a critical trading concept for the methodology in every one of the above posts, and I am pointing out those things intentionally, and it seems like it is not being grasped hardly at all (jarek did mention in his post he knows what he is thinking, and he showed a chart for it, so I know he grasped what I was saying).
As I mentioned in my long note on my posting here:
http://www.mypivots.com/board/topic/6680/1/comments-on-jims-posts
I am posting for a reason, and I still think the reason, and the great (in my opinion) information about the methodology, is being missed by most. I am not trying to get more votes, I am just using the voting system to help me understand where people find value, and they are passing up my gems, but liking specific levels and charts. Heck, I can stop posting all this stuff, it would be a lot easier on me, but this is 'the good stuff'. The thinking, the critical factors, the 'context', the gist of the daily grind.
Maybe it's just too much above the level that most people are at with the methodology, I don't know. I'm just posting this because I'm not seeing the kind of response I'd expect for the depth of the information I am posting. I'm not looking for a bunch of 'Great post, Jim', 'Great read, Jim', 'Nice job, Jim' replies, I'm looking to see people grasp why I post almost nothing that isn't very specific, done for a reason relating to applying and understanding the methodology, and relating to the daily grind of actual trading, as I see it.
As I close, look back again at the posts I quoted, read the questions, dig up the posts, with their time stamps, and study what you see there on the charts, and what I said. Try to answer the questions, on your own. Do the work. Every question is a gem, and if I were in the readers shoes I wouldn't sleep until I understood every post and answered every one of those questions, every day. But, that's just me and I guess that's why I am the one who wrote the books and runs this forum. I work non-stop, with a goal of understanding.
One does have to have the basics down for the methodology to follow this. If not, the posts should at least help focus the work into certain areas. Here's more of my points. When I post specific levels I usually get voted right up. People seem to like that. It is specific. That's great and all, but to me, the things I posted today that were the most important got zero votes. Here's some examples of posts that I felt were very important to something I was trying to show:
"Understand, though, very short-term this is now at the extended point again. It's not trending strongly, it's almost range trading in here with a downward slope." What does this mean? What does it look like visually? Why is it significant?
"This is just sitting on a key TL... It better be very careful." Why should it be very careful?
"Up like a rocket for a bit???" Why? What's the area/reason?
"Watch this 1-min downsloping TL and the 'squirt effect' when if gives way." What is the 'squirt effect'?
"Notice the reaction? Right back in to the .382, which stops it dead, and then back up. Now, that's a clue, right?" Is it a clue? To what? Why did I mention this right at this time? What is the need for clues here more than anywhere else?
"Now watch here and see if this was one last push, or if this is a trend move." Hmmmm, last push or trend move? What's the difference? Why do we care? Why ask that here?
"But note the KZ off the HOD coming in here..." Is this critical? Is there a convergence there? What's the 'context' and bias at this point? What can this area tell me?
"ES look unstoppable, as 18-19 looms." This post was crucial. Why did I post this? What is the point? How many times have I discussed this concept???
"Here's something to think about. They have me so terrified of the short side right now, I can't even imagine shorting this. Ponder that." And this one was ten times as crucial as the last one. This was the post of the day. This tells the story. It got zero votes and zero comments. Even after I follow it up with: "Are you pondering???"
"Really saw their intentions on this one." Why am I pointing this out?
Originally posted by jimkane
Yep.
Originally posted by jimkane
Up like a rocket for a bit???
Why am I reiterating this? For fun? Was the intention to brag? Not at all. That was not even in the back of my mind. Once again, why am I reiterating this??? Why did I make a few reminders about it?
"A push to 18.50. Now what? I think I have an idea." I'd been waiting and waiting on this. Now was the time. What is my idea? Is this a shorting level, or an area just to watch for long management? What's the setup? How many lines were converging at this spot? When is an area for management and when for playing against?
"Wow, this is messing with the LOD and Monday's LOD." Why am I pointing this out? Seriously, why did I choose to mention this right here?
Now, every one of the above posts got zero votes, and yet I think every one had a very specific, very useful reason for being posted. People post charts and they get lots of votes (charts are good, don't get me wrong). But there is a message, a clue, a critical trading concept for the methodology in every one of the above posts, and I am pointing out those things intentionally, and it seems like it is not being grasped hardly at all (jarek did mention in his post he knows what he is thinking, and he showed a chart for it, so I know he grasped what I was saying).
As I mentioned in my long note on my posting here:
http://www.mypivots.com/board/topic/6680/1/comments-on-jims-posts
I am posting for a reason, and I still think the reason, and the great (in my opinion) information about the methodology, is being missed by most. I am not trying to get more votes, I am just using the voting system to help me understand where people find value, and they are passing up my gems, but liking specific levels and charts. Heck, I can stop posting all this stuff, it would be a lot easier on me, but this is 'the good stuff'. The thinking, the critical factors, the 'context', the gist of the daily grind.
Maybe it's just too much above the level that most people are at with the methodology, I don't know. I'm just posting this because I'm not seeing the kind of response I'd expect for the depth of the information I am posting. I'm not looking for a bunch of 'Great post, Jim', 'Great read, Jim', 'Nice job, Jim' replies, I'm looking to see people grasp why I post almost nothing that isn't very specific, done for a reason relating to applying and understanding the methodology, and relating to the daily grind of actual trading, as I see it.
As I close, look back again at the posts I quoted, read the questions, dig up the posts, with their time stamps, and study what you see there on the charts, and what I said. Try to answer the questions, on your own. Do the work. Every question is a gem, and if I were in the readers shoes I wouldn't sleep until I understood every post and answered every one of those questions, every day. But, that's just me and I guess that's why I am the one who wrote the books and runs this forum. I work non-stop, with a goal of understanding.