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How does the old supply look here for the 800 level? Do we still have a net supply to work with for the shorts?

Short the world @ ES 800?

739 then 720 (~50%)

I am not 100% sure what you are saying... however I think we may agree. Market is at a pivotal point here. Breakout to 800+ or get a decent retrace of this 5 day upmove. I vote for retrace.... and the best way to vote is by trading.

You are an infant noob with 20 yrs of trading experience? What am I? A sperm cell trying to crack an egg? lol Sorry to hear your short got cracked. I was short at 746 yesterday too but let it go.

Nicely done! You seem to have very advanced money management techniques. You must have extraordinary discipline AMT- it's difficult for most traders to enforce a loss if prices really move against you.

Did you take a breakeven stop order on the 717's that you sold? (Or did you average in the short position and retain the sold cars along with opening more shorts?) Since you hit 713 as a first target, if you were stopped at BE+1, it would still be a small gain. Great trading, AMT. Stone

Stock_trad3r, you are a cancer to this thread and add nothing of value except baseless opinions. Would you please contribute in some meaningful and relevant way? And if not, I will be a happy counterparty to take the short side against you as we go down to retest the 600's again.

Great observation Veggen. It seems like using delta zone divergence might give you an edge on when to fade anchor S/R. Many thanks to AMT for spending some quality time to help us out. Stone

Lol, do you ever sleep? I am headed for Cancun for a few days. Bad timing, but I didn't know the market would be in "crash mode" when I booked the trip. Best trading to you, Stone

Whole heartedly agree... If you have the patience to trade at the key zones, it will make your life much easier. There's a troop of traders I am in touch with on Othernet IRC & priceaction dot net that trade off of what we call "Anchor Support / Resistance Zones". You call them Delta Zones...

Great fade AMT... It took me a few tries but I finally nailed a 722.75 short that stuck. I only held for 718 and 715 tho. A pity, market really crashed in the last half an hour. Those 3:30pm reversals can be brutal. Bears undid more than 50% of the effort the bulls took all day to build up...

715 is significant resistance imo. We'll need to hold 707 all afternoon to save up enough power to get over 715. I feel if 707 breaks decisively, 730 is out of reach for the high of day. But then again, you never know... some news break could force a lot of short covering. Stone

I thought we were going to reverse and go up today. Did we have a net delta of sellers at 709 in the afternoon today?

Where's the stop & target for gold short at 1000? Trade's not over until you exit... This is the 3rd time we've come knocking on the high 900's level for Gold... there may be a brick wall at 1000 for Gold but if traders are going to keep attacking that level it's going to break..

Hrmm... So maybe we need a massive selling climax ... this is going to look nasty. Perhaps Mr. Lawrence Chan will get his limit day down finally. I got it wrong, I had thought the 4 months of accumulation between 800 and 900's was going to move this market up. Seems it was redistribution...

What needs to happen in order to see a reversal to the long side today? (or in the next few days) Do we need to base for a few days? Can we get a V reversal?

Freaky but... Pek's dragon worked in GLD too ... failed double top 91.91 Height 0.40 Max high reached 92.06 Perfect match to the penny... So weird how the market does that..

Very nice trade AMT! Captain obvious moment for me, you reached 712.50 today too! I don't blame you for covering at 717... I was trying to get long there. Stone

Thank you for taking the time to respond to Veggen's questions. The answers are very helpful to help me understand how support and resistance work in the markets. I was curious as to what kind of situations might cause an AMT based entry signal to fail. For instance, I might imagine that...