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This is probably the best scenario I've ever read to describe retrace vs. reversal. Nice post. :)

Pretty bullish on the 60 minute chart. Gapped right back into that rising channel and above the prior high. Passed a lil pullback test even. Bigger picture though...we will be encountering HUGE supply in this zone. It's a damn big zone so be sure you know how to play the game if your...

I scalp the YM using the 1 minute chart. I have used 144 tick prior and it worked pretty well depending on the amount of action that day. Volume bars I've never looked at very much before but I'll be checking them out. It makes sense as a scalper to focus on actual tick or volume based market...

You use that for ES I presume? Are you doing more of a position/daytrade with that volume frame or are you scalping? Thanks, MC

While the paper markets are in breakdown mode...commod's should bounce. Silver looks prime for a bounce IMO. Tight stop and quite a bit of potential upside off this divergent test of the last lows, this is an excellent trade opportunity as I see it. :) Remember you're counter trend if you're...

The most recent down move has built bullish divergence where price tested lows yet the MACD as well as the MACD histogram failed to even come close to their prior lows. This was a VERY bullish indicator. I would have preferred the volume had been lower on the 2nd test giving a 2nd and more...

Get ready...somethings gotta give. 2 days now TRIN has been moving in tandem to the DJI. These are meant to be inverse to one another so divergence (or technically absence of divergence) is horribly blatant but with no direction. Looks like the DJI may have a double top since TRIN failed to make...

Still plenty of resistance ahead on the markets overall. DJI has no divergence on a weekly going into this move so perhaps the Nasdaq is leading off it's divergence. Either way Nas has been the stronger market all the way in this bear really. In case some didn't catch the tip on the...

Typo on the last post...it should read 10,700 of course. Sorry

The above I posted on the web on Jan. 23rd. The levels I posted back then are coming up. 11,700 remains the most important level I can see. If we stay above that, the point of control is upheld and long term investors will hold albeit with a load of steamy crap in their pants at this point. If...

HRMMMM Could it be???? A longer period intraday chart with a test sans the 1 minute noise and micromanagement we all thrive on??? ;) Yep...now back to my 5 minute noisy chart. LOL I'm on my hands since this action is so wild...good luck fellas, this may secure the bounce everybody has...

The bigger picture, why can it be important to not solely focus on micro levels and step back sometimes? In addition to my micro level chart we can now see a more defined channel. Plus much more is visible that is acting as support now. So, we have the downtrend broken and testing (from prior...

I called for a pullback test back on April 18th. I never thought it would have went this way and taken so long, but here is our test finally. :eek: Macd and macd histogram divergence on last weeks close, which is lower than the prior closes. 200ma is double support backing this trendline as...

Just because you googled him and he came up in 1 chat log for puretick dosen't mean he is affiliated with them, or even a member. Just because some already know how to properly determine key levels (most actually think they know but don't) don't discredit what he is showing there. Just...

PM me for a link to my thread of rants. It's not on ET so I won't post a link here but it's an open invitation to discuss inflation, the flaws of fractional lending and all that is damaging our country if not the world. TTYL, MC

The best posts/threads are timeless IMO. The core market concepts that win don't change all that much, especially market psychology discussions. Glad this has been fixed. :)

True, I just can't believe this thread keeps going on. LOL :eek:

On something like futures that are highly leveraged you don't need HUGE amounts of cash like you do on stocks to achieve the same profit. In fact the bigger issue with futures is people overextend and then leverage amplifies their poor money management losses. People are warped if they think...

Yep, scared money means you don't or can't fully embrace the risk. That's just going to cause errors, 2nd guessing and overall bad trades. You have to be willing to pony up your set amount to see if your edge will work out in any of the unique market moments. :) Good thoughts bud

I should have updated. Long term I still am bullish but I kind of expect a test of the 12,100 range on the dow mini. There was distribution at resistance IMO, so they flipped shares if I'm reading it right. The pocket of support is from 12,000 to 12,100. The reason I'm bullish is the monthly...