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wshahan

Week 3 Trades- Spookywill

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I was fading my market structure so I would be on the right side for a breakout. Effectively I am short from 1370.

 

* * *

 

Yes I see that. I know you were leaning short and was just making a cute remark about the dizzy part.

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SPOOKYWILL TO GOSU,

 

I enjoyed the humor and I know you well enough to know that you are not mean spirited.

 

And we have no range today which makes for narrow margins, small trades, and frequent reversals. Hard way to make a living. But it can be done without inordinate effort.

Edited by wshahan
add on

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I closed the short because I didn't see much downside potential and I wanted to open to for a long entry.

 

In retrospect, this was an error, so I am looking for a graceful way to get back short.

 

If we hold 1363, I will probably go long.

Apple is self destructing, therefore the NQ is also heavily down, and the trend in breadth is negative.

 

All say don't go long and favor shorts.

 

In particular, be very careful fading the trend of breadth in the last hour.Apple reports its earnings after the close today.

Edited by wshahan

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1363 did hold and prices fired out to the upside. However I re-entered short 1366.50. I don't see much either way, and "breadth is my frend."

Edited by wshahan
typo

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1363 did hold and prices fired out to the upside. However I re-entered short 1366.50. I don't see much either way, and "breadth is my frend."

 

Hello, I've read several of your posts and have a recommendation for you. Please consider studying some of the material in the Day Trading The emini Futures thread. . These guys are into MP and are well versed in it. You would really enjoy it.

 

All the best!!

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We came back down to test the overnight high and morning low of roughly 1382 and prices so far have held there. I would like to see a double top structure form and have an opportunity to enter short above 1384. Be patient; we may not get a playable structure before the announcement.

 

Breaking the morning low would also give a sell signal.

 

Remember the FED, the trades today are liable to come after their announcement. I plan on being flat until the dust settles.

 

I was went short at 1382.25

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makes life wrth living trade-I want to go short at 1385 or better, stop 1387. If I don't get stopped out by the Frd announcement, I will have a great reade. If I do, which is likely, I will reassess after the 1;15 announcement

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we have divergences in the indices with the ES being the only one to make a new high. And breadth is no where its earlier high. and the risk reward ratio is very favorable. Very high risk as Bernanke is just staring his remarks. Stop at 1388.50

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lower stop to 1386 so we are playing on Bernanke's money. 1380.25 breaks prices to the downside. Big whipsaw potential, would not go short here.

 

Bernanke's remarks last til 2:15 CST.

 

There are 4 longer term tops in the 1389 area, so going through that area would produce a strong buy signal.

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stop 1367.25

 

I am very late coming to the party, I just woke up.

 

We have a mature balance area of 12 day's duration and a potential failed breakout to the upside.

 

We should initially retest 1382.75 and see if that area holds.

 

Either way, we are due for a strong move.strong move. Based on yesterday, I think the most likely ultimate direction todayis up, but we willl see what the market says.

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