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What do you consider a LL, taking this weeks lows or taking march lows ? Thanks FoN

Ya these guys crack me up. I know full time traders that have a hard time going above 1-2 cars. Does not No Doji trade like 1-4 cars ? FoN

Why not just short the resistance line you had in the first place, no reason to enter in the middle of nowhere when you can do so at the good looking extremes. Not only is your stop very much unprotected your reward is inferior. You had it as resistance, so it should resist, why wait for the...

That's 137.50 a tick, and 550.00 a point, I'm not sure where ETers get their illusions of grandeur but for an individual that's size in my books. FoN

Exiting June at 1291.25 Will rollover to Sept at 1274.50 with a stop at 55. FoN

Zr1trader, Don't get lost in timeframes, find those channels, they have starting points, use them properly, some will require you to go back a certain number of bars, some less or more. FoN

You need a strong trend for channel trading to work also if you go to small timeframes they become erratic as the trend there is constantly changing so a bit of patience is definitely required but the stuff definitely works if done properly. Eur/US$ is a great pair for this kind of trading...

I did not edit the post, I should have, because I noticed i had calculated the point of no return incorrectly (stop) and extended it a bit. Attached the exit I posted. FoN

There's a problem with the SP500 right now. When the shoulders of an inverse head and shoulders are flipped from support to resistance the market has a high probability of taking the head. You can see in my chart how the projected pivot of the uptrend channel trendline reacted all the way...

Careful using trendlines at will, to make sure you are using the correct ones try to make it a requirement that they are actually part of a well established channel otherwise you might find yourself analyzing noise. FoN

Potential areas of support SP500 Daily. FoN

A few key numbers that could play a role: SP500 2010 highs 1262.60 SP500 2010 close 1257.64 SP500 2010 highs 1130.38 SP500 2010 lows 1010.91 FoN

Exited 74.75, no good bulls. FoN

Ya I'm also still on June, should have clarified. FoN

No targets in mind, if day closes strong will considering holding the position. FoN

bought 73.50 6 point stop FoN

I see where you are coming from but he's just trying to be objective to price as he notices an inverse head and shoulders forming giving the opportunity for a right shoulder pullback to project it to the area he stated. Right now that's about the cleanest PA afterhours is displaying anything...

No one really knows what will happen tomorrow, but we made a statement today. Best you can do is analyze the key areas upstairs and downstairs, and forget the hamburger in the middle which is noise. Shorts have not covered yet, when they do you will notice the no escape no retracement like...

Just an educated guess of course but these projections tend to be fairly accurate. Good trading to everyone. FoN

Not all bottoms are created equal, also if the worst selling SP500 session in the last 2 years is not capitulation, I don't know what is. Capitulation may happen slowly does not have to be a one day event, although I do agree, it tends to be brutal more often than not. FoN