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Well, you're gonna find out sooner or later whether your "gut feeling" is reliable or not. :) But whether you use or place high value on intuition in your decision making should not be the main concern IMO. It's what you do afterwards. For example, if you enter a trade based on instinct and it...

That's my belief as well and I've since moved my stop up to just under 31500. Now that I'm looking at the chart, I would have in fact gotten out 1 hour ago with a decent windfall. :)

Aloha! There's no particular reason why I prefer 21 over 20. But they're more or less identical as you can see in the chart below, so it makes no difference. What's more important to note is that you should never use EMA alone (or any indicator or oscillator for that matter). It should always be...

I mentioned about the Head & Shoulders earlier this week. Personally, I ain't a big fan of H&S but should it go down that way, then we're looking at 4138 or there about as the target. So about another 100 point drop from here.

Have a good weekend

BTW, I leave you with this famous quote by Jesse Livermore (yeah, yeah, I know he died broke, but that's not the point). “All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. Wall Street never changes, the pockets...

Yeah, those "triples" in concert work like a charm if you know how to spot them correctly.

It would have been a pretty good long setup IMO had we rallied this afternoon. This is the weekly chart of ES and we stopped more or less right at the trendline. But since we closed at the LOD, it remains to be seen.

I swear they're obsessed with me.

And while we're on the theme of HL and LH, there are 2 additional reversal patterns you should be aware of: 3 bar reversal and Trader Vic's 1-2-3 reversal patterns. As you can see, they look and feel similar and move in similar manner. Learn these HL and LH patterns like the back of your hand...

Long 4260.50 Gonna swing for the fence. SL 4245 PT 4340

These days, usually the ones operating out of Carribeans or Malta are the high suspects.

Man, I had my limit order all ready to sell at 30280 and I just looked at the chart and what do I see? It missed it by only 50 points!!! :banghead::banghead: :banghead:

If you must use an indicator, EMA20 (I prefer 21) as @speedo suggested is not a bad one to try because so many traders follow it. However, it's a lagging indicator so you must combine it with price action. It should not be used alone.

Since I've been called out as "the piker scataphagos alt", I thought I do a hindsight analysis of my own. I'd imagine today was a tough day to trade for most folks with these 60 point chops, up and down. But looking at this 30 minute chart of the last 3 days, it doesn't look at all convoluted...

What can I do? That seems to be the vogue these days. :sneaky::fistbump:

Know how to read the chart. Even in times of randomness, only price action can get you out of trouble.

Wish everyday was like this. I don't need no Santa Clause rally. Just give me 60 point chops everyday and I'll be a happy trader.

:D:D:D