JI
jimkane
Rep: 3,058
Posts: 33,089
I'm not going to get emotionally sucked in to hoping this is 'the move', this is it, it is going to drop off this key area. This won't just be a check back trap and then that explosion to the upside. It's really going to sell and make me smile. No, I'm not going to get emotional so I won't go on the roller coaster when they gun it up in some crazy news game. I'll just look to 'ride the wave' until it ends, and whatever that is, it is (although it sure looks awesome right now...).
JI
jimkane
Rep: 3,058
Posts: 33,089
That 89.50 is probably it. I am hoping for a move to at least the low 40's (well over 40 points lower), and I'll probably get that 6.25 points there and that's all...
JI
jimkane
Rep: 3,058
Posts: 33,089
It did one more little push down. I think that 88.00 low could be it. I say this for one and only one reason. I tremendously want it to go down in here. Therefore, it likely won't. Now, this may sound silly, or like Jim is cracking up, but there is a method to the madness, a reason I keep pointing out the corollary to the market maxim (The market will do whatever p#%&es Jim off the most).
I know that my desires are very much like those of the average 'sucker'. When I just analyze my regular, non-trader desires, they aren't any different than those of the plain sucker. If I want it bad, then I'm the sucker, I'll be trapped, and I'm going to take the pipe. So, I encourage myself to feel the normal human feelings, then I attempt to use them in my analysis.
I feel it has served me well, and I'm encouraging others to experiment with this technique. Many times my reads are well supplemented with this technique. And, no claims, of course, but we all know the track record of my reads...
I know that my desires are very much like those of the average 'sucker'. When I just analyze my regular, non-trader desires, they aren't any different than those of the plain sucker. If I want it bad, then I'm the sucker, I'll be trapped, and I'm going to take the pipe. So, I encourage myself to feel the normal human feelings, then I attempt to use them in my analysis.
I feel it has served me well, and I'm encouraging others to experiment with this technique. Many times my reads are well supplemented with this technique. And, no claims, of course, but we all know the track record of my reads...
JI
jimkane
Rep: 3,058
Posts: 33,089
As an aside, just like when I see a level and I see how it reacts there, and then I use the info, whether it respects the level or doesn't, I can apply that here. Say, like in this case, I am getting that feeling like I'd really like it to dump here. So I suspect they are setting a trap, if not right here, then close to this area.
What if it does dump nicely? Then I assess what that failure right here may mean. Some suckers are short, and doing well. What are the implications of this? What scenario(s) may unfold based on this? I can use this info the same as when levels are or are not respected, as part of the clues I have available to make my assessments.
What if it does dump nicely? Then I assess what that failure right here may mean. Some suckers are short, and doing well. What are the implications of this? What scenario(s) may unfold based on this? I can use this info the same as when levels are or are not respected, as part of the clues I have available to make my assessments.