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Au contraire, my friend. They're only taking a breather (or more precisely, they're creating a trap for the bears :)). Seriously, if I can give one advice it's this, don't try to predict what the trend might be, but see where the prevailing forces are setting up the traps.

I would suggest you consider dumping and start over with a clean slate on Monday. Since the bears failed to bring the market lower all this week, we might gap up on Sunday. Just a hunch. (FYI 4120 is the upside target, hint hint)

Yeah, but you're still in red ;)

Do you believe trading is any different from other professions? Do people look forward to start their work day? :sneaky: You might if you're a trading rookie, but if you've traded day in and day out for over 20 years, it all comes down to PLAN OF ACTION. No emotions, no regrets.

And who woulda even thought Black Friday kicks off on 4th of July? :sneaky: What's even funnier is that Black Friday is an all-American thang that comes after Thanksgiving day (hell, I don't even know what that means any more), but I see other countries offering their own Black Fridays. WTF...

You shouldn't risk more than 2% of your portfolio. But you can't just place your stops willy-nilly either because price tend to move until its met by support/resistance levels.

No bro, you got in too soon. They're gonna gang rape you until ES hits 4100.

All the explanations given below is legit, but the problem is they're all hindsight analysis. Also I ain't so sure whether the size of the bubbles accurately paints the order flow. Moreover, you could technically get the same thing using DOM, volume profile, or even footprint chart. Anyway, can...

Oh, c'mon, you've been saying that since the top.

So I see we got some big numbers hitting the wire tomorrow. All tied to Powell and his gang of 12. :fistbump:

Buy the effing dip, bro! :D

Been there and done that. I think my live trades from that era are all still up (somewhere). ES Journal Archive (2006 - 2008) https://www.elitetrader.com/et/threads/es-journal-archive-2006-2008.228046/ Trader P/L 2008 https://www.elitetrader.com/et/threads/trader-p-l-2008.113193/

What's on the agenda for tomorrow? I don't think this selloff is done. We'll likely see 3700, but if things get really ugly, maybe 3650??

Well, it depends on your goal and how you manage your trades. Your particular style of trading would require absolute focus where you need to micromanage every tick. That can get pretty tiring after a while. Also you will get stopped out with micro movements, potentially giving up on larger...

Flip short 64

Flip long 72 Struck out twice already. One more trade and I'm out. SL 54

What's worse, you end up giving back all your profit and end up losing 10 points. Such a noob. :(

If we continue down this path, 3735 looks to be a good target.

Flip short 62 SL 72

As always, it will probably reverse once they stop me out. :confused: