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MarcinO
Rep: 67
Posts: 5,506
No charts. Just opening a new topic.
JI
jimkane
Rep: 3,058
Posts: 33,089
Interesting how I mentioned all those foreign ETFs yesterday, and on a down day every last one is up.
JI
jimkane
Rep: 3,058
Posts: 33,089
Hmmm, is the ES going to break down below the LOD here, as it strongly appears it will?
JI
jimkane
Rep: 3,058
Posts: 33,089
Oh, yeah, my obligatory obvious post: ES 4 point range for approaching 3 hours. Same old, same old.
JI
jimkane
Rep: 3,058
Posts: 33,089
They do want to sweep those stops, I think, at the least. I can't imagine they don't want them.
JI
jimkane
Rep: 3,058
Posts: 33,089
Here they come...
JI
jimkane
Rep: 3,058
Posts: 33,089
And there go the stops.
JI
jimkane
Rep: 3,058
Posts: 33,089
It needs to bounce now or this move may really get going.
JI
jimkane
Rep: 3,058
Posts: 33,089
This looks like more than stops. The 'bulls' better get on this...
RA
rat89
Rep: 0
Posts: 7,015
I agree....they had better pick it up right here and now

Click image for original size
JI
jimkane
Rep: 3,058
Posts: 33,089
5.75 point range for over four hours. Another wasted afternoon. I wish I could do like roofer. Find the setup in the AM. Nail it with a three or five cent stop. Go play in the garden. Come back in, take it off at the far target for a smokin' trade (or have the profit target take me out while I'm in the garden, or whatever). But, alas, I hang around, watch every tick, deal with the chop, try to find something in nothing, and so on.

roofer and I have talked about this for years. But I'm not roofer, never have been, never will be. I think best case scenario, maybe I could hit one trade like he shows per year. The rest are more the ugly 'deal with market reality' type trades for me. I tell my students all the time 'trading is ugly'. It's messy and ugly and rarely does what you want. Then you manage accordingly. This happens for most trades. I almost never see one go right to where I want exactly like I want.

So, I'm quite envious of roofer because he has skills I simply don't possess. He can find these trades over and over that are not ugly at all, go perfectly line to line, have outrageous reward/risk, and so on. I am just not capable of that. So, I do the best I can with the skills I have. I battle the 'ugly' every day. Like I said, I've tried roofer's way many times, but it simply doesn't work for me. Hence, I do what I do best, the KT methodology. The 'deal with the ugly' methodology. I just don't know any better (or simply can't do what roofer does).
AL
albert
Rep: 99
Posts: 3,094
Thanks Jim and thank you for the offer. Please leave my latest posting in the main discussion threat, where it is. The chart seemed worthy of comment at the time I looked at it, but now, not so much. It probably points out that I need to follow price action on the 15 minute and higher timeframes more, in order to see more, as you have pointed out in your books. As usual, the Kane ABCD covered the price action beautifully.

Al Kamego