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I took a month and a half break from trading from mid April till early June but continued to follow and study the markets. I also had a bit of an existential crisis trying to figure out if its time to give up trading and move on to something else. This was a very though time I must admit...

I believe there is gonna be some selling from this 82 (80 spx) level. Im staying long though, lots of support levels established on the way up.

Im orginally from Belarus... Lots of slavic traders looks like :D

I look at all the time frames together. From Weekly to daily to intraday and try to understand where the market has been, where its at now, and whats possible. Where bulls or bears have made their stand and what happens when we approach those areas. I tried trading only from a 5 minute ES chart...

Those trend lines mean nothing. You are just looking at noise which is unreadable without knowing the context of the higher time frames. You claim to want to read the market instead of using systems but you are purposely putting blinders on and refusing to see what is really going on by only...

Sierra Chart is really nice to use and very cheap. I am not sure how it would be for stocks as it doesnt have any scanners but its really nice for futures. They also offer reasonably priced Data feeds with tick by tick data for futures.

So glad i didnt get shaken out on FOMC minutes yesterday Next major resistance at 2780

I am in Thailand so its almost 10pm here... but anyway I am bored and like to discuss trading while watching the market :sneaky:... I agree that there could be too much momentum but this is a breakout from an accumulation that took over a month to complete... so that base should provide more...

If you are buying momentum or selling momentum, shouldnt you be all over this bullish hourly bar?

Good luck... if news can disrupt trend and your technical then why use them at all?

Are you back in now on the break out? I believe in holding through the news releases if you are confident in your chart analysis.

No market rallies on trade war news instead ... look at that over night action.

I have been learning what not to do by reading his details posts. Very helpful and I really appreciate that he joined the forum. I saw some of the errors that I was making in his rambling and its actually helping me see what a tool I was in some of my trades.

Almost panic sold the FOMC dip.... long term trend > news

looks like bulls have the upper hand here

im guessing on FOMC minutes there will be a big move...

Your negative divergence on the 5 minute chart is a trap, higher time frame trend will over power it..... but who knows anything can happen.

Also if you believe in correlated markets, look like Dollar is gaining strength in Gold right now as well. Breakout imminent.

Can be argued that it is a bullish divergence and we are trending up towards that last resistance level which to me looks like its going to break and we will make new highs. This is a second test so more likely to break. I dont trade euro/usd but i guess all charts are the same... Also I am...

Check out the hourly...