Starting it off.

Is this trader counting on TL fakeout?

BTW, on the move into the key area, it was so textbook it's just insane. Look at the 1-min volume spike! Talk about moves (pretty much this entire week) that could all be 'well-chosen' examples in some book, today takes the cake. The entire week, well, I can't recall a week like this in recent memory.

I don't know, is this trader the type of trader who looks for such things?

Originally posted by MarcinO

Is this trader counting on TL fakeout?

I think I know a guy like that.
What was his name?

Originally posted by jimkane

I don't know, is this trader the type of trader who looks for such things?

Originally posted by MarcinO

Is this trader counting on TL fakeout?

I can't recall either, but it will come to us...

Originally posted by MarcinO

I think I know a guy like that.
What was his name?

Originally posted by jimkane

I don't know, is this trader the type of trader who looks for such things?

Originally posted by MarcinO

Is this trader counting on TL fakeout?

ES trying to act done going down, acting like an imminent pop. The game is on, as usual.

Everyone did see the bearish ABCD in the AM that set up this fall right dead into the area I posted a week in advance, right?

I saw it but really waited for 51-54. It lined up great with the lines I drew yesterday...

Okay, looks done going down, but it still could be a 'W2' ABCD, so we'll see.

Well, this is a classic mistake I see many traders make. At least, to my way of thinking it's a mistake. The premise is say trade short on a bounce to 51-54. The first questions is, what if the trade premise doesn't play out? What if it has bounced all it is going to? What's 'Plan B'? The answer, for me, can't be 'I'll stand aside'. The opportunity is potentially huge, the approach can't be one-pronged. Just my two cents.

Originally posted by MarcinO

I saw it but really waited for 51-54. It lined up great with the lines I drew yesterday...

The generals are leading, and the troops aren't following. This, usually, is a very bad thing.

http://www.zerohedge.com/news/2014-10-03/market-breadth-has-collapsed-around-world