Search results

I'm sensing a move back to 1070 over the next week or two. A massive short squeeze to go along with one of the most massive drops in history. It could go higher, but this is the first area I'll be looking to get short for the next move down. Its important to remember that S/R levels work...

Lets pretend for a second that the monthly chart you just posted is a 5-min or 15-min chart.... what would you expect to happen? I'd expect a small bounce (38.2% retrace at most) off that pivot (02-03 low) and then an eventual break. Momentum can't totally shift that quickly.

Theres a fine line between a wedge and channel. This certainly isn't the most textbook wedge... shit I'll give you channel on this one :D Main idea with a wedge is that the trend-trader-sellers can catch it on bounces but only have enough follow through from larger market forces to push it a...

a wedge is a reversal pattern so I was implying we might get a spike up ~20 pts minimum. Sometimes it works sometimes it doesn't but its the small stop with large profit target that makes it so useful.

wedge alert

These markets are fascinating.......

I have no black box but my analysis says the same thing. Huge rip up in a short amount of time, right to that ~1100 level. When you got down down down with few retraces, the move up is vicious. I've talked to others about this too. Glad to see some experienced guys are getting the same...

Nice area to take a great R/R trade if/when you see reversal PA.

This thread is getting cluttered

There would certainly be a sick long setup if this occurs. I want to see a break of yesterdays lows on huge volume. My order is in.

I got tagged for a small loss on my bottom-pick attempt today on the Dow. The good news is that tomorrows potential setup on the S&P is looking even better... I'm actually very excited about it. From history, I know that when I get this feeling, the chance of good things happening is high...

wave, your commentary today is spot on. Nice job :)

I agree. btw.... textbook wedge

Sold @ 1007.75... <3 risk/reward haha. I don't think its not going higher, but as a quick trade I'm out. I'm still holding the ultra-long dow ETF from closing prices. smilingsynic... 940-960... I agree good level for a bounce

stop moved to BE at 999

The Dow is sitting in a support zone. I'm not betting the farm, but it worth taking low-risk shots at in on the way down. Long DDM at 41.00, stop at 39.65... third thrust could happen tomorrow AM so giving it enough breathing room to stay in the trade if that happens. Heres the DJIA cash...

Damnit... I just got long the dow a few minutes ago... I should probably close out now... the ultimate fade has spoken. Analysis coming up. I can't explain it, but going long the ES here at 999 stop at 997.75 looks like a good trade to me. Break through LOD taking out stops, then run...

Make sure its placed in an area where stops have already recently been cleared and hope the momentum carries the way your positioned. I.E. to get short wait for a quick thrust up that gets reversed quick. If you place your stop just above that and the market breaks that, then it really does...

Notice the increasing position size on each trade as the move become more and more extended. Not my style of trading but aye, whatever works.

Anybody seeing oil here? Absolutely insane... its parabolic move is like one of those dollar stocks that were randomly having huge runs last year (mama.com comes to mind). No doubt about, several traders careers DID end today... wheres regal when you need him?