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I lived in Mexico 12 years. Honduras around 10 years. Have you lived in either country? Have many friends in both countries. I am sure there are many Hondurans and Mexicans that you can take in your home, wherever that is at. Of course, they won't have documents or visas or any such thing but I...

Enjoy the beach humbletrader. I’m at the campground in the motorhome. Going to the beach maybe tomm and probably sunday. Have a good weekend.

Ok so Mr T gets deal for troops to stop immigration plus more verduras sales for USA. Looks like Mr T putting the screws down got Mexico to jump. Mr T is da man. Liberals are probably foaming at the mouth bout now.

ROFLMAO verduras

Why do you draw extended trend lines off of swing highs and extrapolate price touching the trend line further down?

Ok but to give yourself better probability of making at least something shorting near the top where the channel and the nested range converge and covering in the middle of the channel increases the odds. In other words exiting where you entered.

Goodnight. I am retiring from posting. Tired.

Why are you shorting at the middle of a channel that has a nested trading range AND price is at the bottom of the trading range?

Here is the wedge top in your previous chart. Plus overlapping bars in wedge. Tails on top. Range i.e. doji bars all signs of weakness. No follow through by bulls or bears stronger. So the wedge is just a bear flag. Also the highest price in the wedge barely made it back up to BO point south out...

Don’t forget MA gaps WHEN gauging buying/selling pressures. They show bear/bull strength.

I ask because this is trading range behavior big up..big down..big up..big down..big up...probable another big down to follow. You are buying in the top 1/3 of the range. I just wanted to know your reasoning as I would be shorting and adding to my shorts. It is headed for a quadruple top too...

Lol that won’t work. LOL

There is also a good wedge top trade in simplemelikes chart. Can anyone draw it and say why it is a good trade? Would you explain your reasoning for going long at this green arrow?

Padu actually does make some very good PA comments from time to time if folks will listen. Perhaps his wording is different and may be taken wrong by some???

You are welcome.

Some more comments. This is what I am talking about when I say reading the pressures. Patterns form in the context of immediate pressures and other larger patterns. Probability can be gauged by correct reading of the pressures and patterns and their location within the larger context.

I may have inadvertently hijacked the thread with my lovely hand annotated charts that speak to some traders and probably get laughed at by others but then I noticed it is a thread on daytrading the indexes which is what I do so maybe I am ok?? LOL

@SimpleMeLike. As you reflect on the triangle and my previous comments I thought it good to mention a few more things. A symmetrical triangle has a 50% chance of breaking out in either direction. However, context can skew that somewhat. In this case it did. The triangle apex is at the top of a...

Your welcome.

Using your chart let me show you something you may be missing. A symmetrical triangle we know is just a channel with converging lines. The bears and bulls are about equal in the pressures they are exerting. That is why the pattern forms. However, the pressure is also BUILDING on both sides...