Starting it off.

Oh, and from the above, it bounced into that ABCD and rolled...

Notice the super-key ML here that it hit to the tick at 46.00 on the low end of my area. That was why 46.00 was listed as the low end, that ML.

This should produce a snappy bounce here. If not, that's a very important clue, and I would be looking at the lower area(s) muy pronto.

So, is this a long play? This is the exact same thing we have explored in here so many times. What does the standard methodology say in here? Short with a partial (some taken off as it 'saw' this area), ready to scale the rest out. Let it ride if it dumps. How about that highly skilled, nimble jumpy trader we discuss? That trader may have wanted to go long, and be ready to flip on a moments notice back to short if it starts to unfold that way. Most likely scenario in my opinion? Bounce and roll. So the highly skilled trader can try to catch a little countertrend. The risk? Opportunity cost of not being in if it rolls and no entry is available.

done for now

qqq then and now - most traders don't ever believe a large move is indicated when an algo sets up as a test and retest

Fits with my area here. I still think a bounce and roll is more likely than a reversal. But choosing the right timeframe and the right side is a relative thing for a trader. It's about deciding what opportunities to take.

Originally posted by rat89

done for now

Click image for original size

And that's why we, in here, 'ain't most traders'.

Originally posted by rat89

qqq then and now - most traders don't ever believe a large move is indicated when an algo sets up as a test and retest

I think an ideal scenario would be a bounce to 55.00-57.50, with emphasis on the higher end of that. .447 is at 59.41. But, if this rolls here at 51.50 for more than some games then it may get monkey-hammered.

Okay, so from a classical standpoint this is the dip to buy after the first move. Right now.

And here's the new topic. Everyone please go there and vote that up (if you think it is good). Also, I added a post to the above one thread, so make sure even if you voted before you go and vote up that one. I know there are more people reading this than four, so please, everyone, help me out. I need to make sure that they don't seem vulnerable to down voting and we get the positive vibes going. Thanks.

http://www.mypivots.com/board/topic/8616/-1/charts-from-4-29-16