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Yeah lower would make sense too. Or higher if we see a bounce which could also make that level the low of day. My logic for it being the closing price is that it will drive the most transactions going into next week because it will be the 0.618 level. Bulls and bears will both have a claim for...

I think the day might close right around where we are right now - ES 3964

The FTSE100 has a totally different make up vs the S&P500. More energy and commodities focused stocks. Also, where a lot of countries have been heavily taxing energy profits to help control inflation, the UK government is creating money to pay energy companies for higher prices instead. This...

Bounced straight off it the moment i posted

If we close below this level today then that is bearish enough for me going into tomorrow

If the chart was flipped, would you short just above a major trend line?

Agreed. But that's what the patterns are designed to do right? The caveat is that the market could still turn around today.

I cant yet. My comments were more on the overall direction. I still think tomorrow will see the bigger move down.

The speed at which we have shot up, the RSI on the 1 and 4 hourly is high, we are approaching a major fib level, we are approaching a major trend line, we are in a bear market, bulls have been burnt way too many times so could (should) have weak hands, the overall trend is down, we are...

Agreed. And the 3973 SPX level is a 0.618 resistance level too. I am pretty much as short as I have ever been right now in terms of position size. If I lose then that must mean I have become too arrogant recently :) When big banks start to make big long predictions that always makes me...

So not the usual pump and dump we have been seeing recently then?

Its so close to the major daily trend-line that it might as well get up there if its going to reverse south at all now.

If anyone is interested

Yeah I reckon its front running the CPI now. Surely Friday the 13th has got to be a big down day right? :)

I think so. Maybe his course works for other people. Maybe I didn't give it the commitment it needed. To decide all this would take time when I already felt like I had something that worked to fall back on. I can revisit it at some point in the future. I would rather focus on my results rather...

I wouldn't like to say if it was the new style or the course itself. It would take more time and effort than it would be worth for me in my opinion. So I just went back to what I felt worked better after a small loss. I basically started trading through Algos. While after a year of testing from...

Its a good point from you both. To be totally honest, I am happy to share my my overall performance metrics, but I am just not sure about sharing my overall P&L or even my trading process. This is because I am not trying to make lots of money right now. I am focused 100% on consistency vs...

Like I said, its a lesson for me too. I actually get quite frustrated at small stuff as well and I thought that by posting a reply with my differing point of view I would be helping myself a bit and maybe challenging other people's perspectives too. There are tons of useless posts on here...

As an outsider this argument seems a bit nuts to me. There aren't any rules that I know of for Suntrader to have broken. Either way, if people are getting frustrated, angry or upset, then that's their own demon to conquer. A good trader needs to be in control of their emotions. So if someone...

Why 3915? *Oh I can see it now