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I believe it's a misquote. The scribble method is SLA-AMT, not just the SLA. Db has been pointing to the document all this time along. There have also been multiple mentions in the document and in the posts that the SLA is for damaged traders to get their sense of direction back. One can combine...

For NQ the price is hovering around the 50% level. One other thing to note is that the price is not close enough to any TC extreme. Both these aspects dissuade me from engaging the market for now. Why play with lower probabilities and try to do something when patience and inaction are prescribed...

I suggest a journal to keep your records in one place for easier analysis. Threads have a tendency to get submerged under seasonal avalanches if they're not under one's control.

This is quite an interesting time for learning this climactic behavior. The analysis is aptly given by Db here. Of course this is for my own reference.

Today was an exciting day. My stops got triggered in my absence. I had no plan to deal with the developing weakness. Failure of long meant I'll be waiting now to see what transpires. Either closer to the TC or some support which I can't see. The salient thing was the price not pushing closer to...

It's a wonderful suggestion. I had RSI on my charts a few years ago. Lets just say I've outgrown that itch.

Price is acting as if demand is on a respirator. If things don't improve fast enough I'll have to scratch this one. 4452 - 4463 is a small TR that might give a clue.

Patience O Patience! you mighty god of wealth Inaction, your chosen weapon of stealth Hold my hand while I eye the fruit to ripe My greedy fingers trembling to take a swipe Ah! the same old wind, the familiar current Dinghy and the storm; dark clouds a deterrent Meandering through mind...

Patience is the key.

I don't like this post of yours. This has forced me to look through my bias. Even if price is close to TC and also at NH from the 2k bubble I suspect some kind of mild push by traders upwards to at least make sure it isn't just a fluke. To come so close and not cross over into the new ground...

I am again reading the book: The Power of Habit. It's about how habits are built and then brain goes on autopilot once the habits are ingrained. It even gives us the 'urges' to engage in those habits when similar cues are present. For a trader this means trading without a proper plan would...

Hey! I am still long. Didn't you get the memo!

Max Favourable Adverse Excursion

Q is returning the the BO level. If I see price firm up and show strength there's a chance I might take a long position around here. The price risk is lower here but information risk is pretty high. Fed is also expected to talk so we never know how this might end. Usually Fed days are dead days...

Is there a profit target or is profit taken when the signal to short is generated?

GLD is finding demand any time it ventures below 115. Notice the DB bounce around 110 and now price pushing upwards. This is a sign of strength. GDX is also not sitting there as a weakling. Is something changing underneath the surface for these markets? There was a higher low and we'll see...

NQ is approaching the upper TC. Maybe in a few days or a week or two we might get an opportunity to short. I am not interested in AAPL. GOOGL is stuck in a TR. Gringo

NQ 4580-4600 is the upper limit of the TC. QQQ shows the channel to be a bit lower due to not having the overnight data. I suspect price to stay strong till the end of this month at least. In other words the likelihood of a short if it develops is greater in May than it is now. Price hasn't...

1,2,3 ... 1,2,3 ... 1,2,3 ... churn'n ... before burn'n Gringo