Hey Boramar you are absolutely correct about a significant move to the downside. Feb 16 2021 was probably the high that most people will never see surpassed. Today pressing back up as predicted in the 3900.00+ area. We could be done or a 10:00pm EST high and down she goes into the Mar 15-17 time frame this month. Levels are down to the 3498.50 1st stop on an EW retrace. Secondly depending how strong we are going down 3215.75 may come into play. We are in big time frame cycle moves now in my books. Did you count the EW waves retrace today in the (c) wave of wave B? I don't see anything as recent but that up move in stretch was a bitch to count.
CME EMINI SP500
- Thread starter BORAMOR
- Start date
Market dropped over 230 pts after the completion of the 5th leg of the expanding diagonal triangle. The emini sp needs a clear close below the 4th leg of this expanding diagonal triangle to accelerate the downside move.
So your down move was purely technical in nature, and had NOTHING to do with Jerome Powell and bond yields then? Hmmm! Yer a GENIUS!
he focuses on 12345 wxyz , abc, parallel lines, channels, ADFC German bike or eagle ....
Trading is more than just
12345 wxyz , abc, parallel lines, channels, ADFC German bike or eagle ....
He doesn't have a macro view of the market.
He didn't know Powell is a powerful man.
OP has a long way to go.
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And so do I. Because I am getting really tired of suffering the drawdowns, "knowing" the markets will recover. It is so fucking old now.
The drawdowns are getting more and more severe. The market is not right in the head.
Every time I look at the positions I am in and think, "How the hell am I going to get out of this one", like Han Solo, time was the edge. There is going to come a time where time is no longer the edge, because the equity future contracts do not go far enough out in time. I believe Dec 2021 contracts are active, but that is not good enough. I want Dec 2022, 2023, 2024 contracts active. That gives me time!
that's why I gave up on investing and swing trading.
I just focus on day and night trading.
It's not unusual, at a forum, for someone to share their technical analysis or part of it without sharing other key components...its a way to protect how they exactly trade. In fact, such types of traders will never discuss those other pieces of their trading at a forum with anonymous people or as a way to prevent those they don't like for whatever reason from having access to all the pieces of the puzzle.
Thus, he could very well be using info stated by the FED and/or bond yields with his technical analysis but doesn't share how he uses all of them together as one trading plan to make trade decisions.
- TA is just easier to discuss without discussing the other more complicated pieces of the puzzle that puts everything together.
One of ET's biggest defenders of technical analysis many years ago...very few knew he had a strong incorporation of macro-economics into his trading style because he only discussed technical analysis at ET.
wrbtrader
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