Starting it off.

While I wait around to see if this does anything, let me recap. In the pre-market it hits the level I mentioned. It backs off, then hits it again. It then sells down into the open, with a signature my recent mentor students should recognize, forming a DT ABCD. It then heads up and fulfills that pattern, going right to the 1.272 area, with, again, a signature those same students should see a mile away. It comes in, in an ABCD, heads up, and takes another shot at the all-time high (at the .941 level, as an aside), but weakens at that level, again, to the tick. That set up the epic fail, right to the previous level we have seen multiple times (well before the last two times that set up such nice trades).

All I ask for now is a bounce to that 96.50-98.00 area, and then a hard roll (wait that's a type of bun...) to the 83 area. But it looks like it can't even bounce. I suspect we may see a little bit into the close, but this 'bounce' may be a grind in the overnight, if it happens at all.

Okay, we are getting that 'little bit' now. It's at the bearish ABCD level now. Will that cap it, or can it burst and shoot for my level?

As an aside, I saw this as an entry at 92.00, but for most very advanced traders, they'd be looking at 92.25 (look on say a 13-tick chart), with a fill at perhaps 92.50 (no claims, just an estimate based on proper execution). The 92.00 was based on the '3D' volume pattern on the 1-min with the stop sweep, and the 'climaxy' look to it, and the turn on say a 13-tick chart.

I love this new style of coming in in the last 1/2 to 1 hour, then I can post as much as I want, knowing I won't get out of control and do it non-stop until the close, bell to bell. The better solution would be to just be disciplined, but, as I have discussed in here before, in some things I'm incredibly disciplined (the stuff of legend, literally, amongst some people that know me), but in some ways, like posting, my spine appears to be more like Jello. Too many years cooped up in my trading office here my myself, in the deep back woods of the rain forest, where it rains essentially non-stop, combined with my health issues, keeps me a virtual prisoner here. Hence, I get 'talking' and I just can't stop. So, this is a 'weak man's' form of discipline, this last hour nonsense.

96.50. Hmmmm, I recall someone having mentioned that level. Now 96.75...

97.00 and looking strong.

For those comedy movie buffs, one of my all-time favorites is 'The 'Burbs' with Tom Hanks. The one kid from the neighborhood, he says 'God, I love this street!' after observing all the action that has happened. In that exact tone I am wont to say out loud 'God, I love this game!'. I don't mean the the games they are playing, I mean the trading game, the market game: 'God, I love this game!'

97.25. It did it, and into the close and the after-cash. 97.50. Deep into the area. Now we see. The cool part is, if they just keep running it, cool. Management mode. If not, also very cool, since I want a spot to consider a run to 83. But, as we all know, the European open and especially our open, on a Friday, have to be factored into how they plan to do it, or do whatever they plan to do. This is, perhaps, my favorite part of all this, the strategizing, figuring out the options and what ones to give the most consideration to.

Anyway, how's that read off the LOD looking now? Look at the time stamp, and consider that I had to type that and watch what I was doing. It traded 92.50 on that 1-min bar from the timestamp. Given this isn't a 'real-time' service and is just an educational forum, how's that for getting timely info to watch for you? Imagine if this is what I did, live, a verbal chat room or even live typed chatroom. I used to do the chat live over at Scotty's Harmonic Trader room years and years ago, where a few old timers in here used to follow along. (As a funny aside, whenever someone new would come into the room and watch me give my reads, I was on a streak where it seemed every time this happened, the person bought my book set, usually that night, if memory serves. it was really funny.)

I grew tired of it, though, and as I got older and had health issues come up (sorry to keep mentioning it, I am not looking for even an iota of sympathy or attention, I only mention it so my reasoning is understandable), I found I couldn't do it at all when the morning action was going, which was when I did it in the old days. Nowadays I find even the forum is too distracting during the morning hours. But, for those trying to use this methodology to trade the ES intraday, for example, imagine a live verbal chat with me pointing out what I was seeing every step of the way. Too bad I have no gas left in the tank, and there are only a tiny handful that would be interested. I'm just musing about how cool it might have been...

98.00 into the after-cash close... Now we see if we have a tiger by the tail, or if that's it.

Too bad!

Originally posted by MarcinO

I'll be off the forum till 22nd September.
See you then. I already miss the action and all the posts in the forum during this time!