Inaugural post for my new, closed 'discussion' thread. I will post my levels, my thoughts on various aspects of the KT methodology, and my usual snide comments about market action. This topic is for those that want insight into my viewpoint on the KT methodology.

And the ES breaks to the upside over that area. Wow, really? I'm shocked. But, the latter part of today is just a 'scalpers' paradise, and that's it.

And yes, from a trading standpoint, I am watching to see if this stab over is a fake snap trap, or a real move. In other words, if I am long and watching to action, if I get a sense that this is a trap, and it starts acting like one, I may decide to call it good, on part or all of a position. Now, could it be a double trap, to get me off then go up. Sure. That's part of the art of this, reading it and making a good decision. Or, you can ignore all that, create a simpler plan, and let it do what it does.

As I've said many times, I think it is near impossible to get a large edge for any sustainable period of time in any one area or aspect, so I collect lots of small edges, hoping they total up to a decent edge altogether. I think I can get a small edge in reading price action at various stages. Maybe I'm deluded. But, that's my assumption, so I do it. I'm trying to collect one more small edge. That's my approach. If that doesn't suit a given reader, he or she can work on a different approach. That's the beauty of trading, the individualization we all go through.

And there goes the ES, quite nicely now. Sore nosed, but happy, I am.

This is interesting.

http://slopeofhope.com/2012/10/goog-deja-vu.html

Careful, this may be done now, for now.

It's too bad that I needed to catch up on some naps, and wasn't feeling much like posting last night. Now anything I say is just so much after the fact mumbo jumbo. Right before I quit last night, shortly after the European open, I thought there was the fourth shot at getting on the short side of this thing, since the last long scalp shortly before the RTH close. Imagine my surprise when I checked my e-mail just now to see a chart from one of my key students (who trades my methodology in a hedge fund), showing the very concept that had me get ready to post last night right before I quit:

'This could be starting down right from here.'

If I didn't see that chart right now I wasn't even going to bother posting this. And the crazy things is, it is right at the area now where one might expect the next big decision to be made. Don't take my after the fact word for it, do the work, it jumps off the chart at you.

Jumps off the chart at you. It's insane.

Okay, after a 'retest' here they come.

I know this is a monster spot, but please don't let this be 'the sensation of the year' as they say. We are finally getting some nice downside work done. A bounce here is expected, and great for the technical aspects, but not a snap, straight up total reversal, which these maniacs are totally capable of. Go crazy, gun it up into the close, gap it up on Sunday, and by Monday morning be at new highs. I'm just funning, but I can imagine these maniacs doing something like this. C'mon, bears, keep the pressure on.

Plus, I kind of spent my posting energy over in the regular trading thread... I forgot about all that yesterday.

31.25 draws a big reaction. It seems to 'check' each level and get very weak off it (the first level was the 1.128 ABCD). It heads hard to the LOD into the cash close. Amazing. Can't say I ain't thrilled. Ooooh, as I type, it hits the LOD to the tick. Anyway, all I ask for Christmas is for this area to give way hard.