If You Can Draw A Straight Line . . .

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And here we are at 40. Don't be freaked out by a retracement like the one at 32. A retracement will give those who missed the upmove an opportunity to climb on board and keep it going. Of course if they don't, then look for a short.
 
And here we are at the top of the channel. Though doing so is sort of chickenshit, given the parabolic nature of this move one could be forgiven for just taking the 20pts and taking a deep breath before going on. It's only 1000, after all.
 
Quote from athlonmank8:

Cool thread. :)
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I agree. Getting a play by play of the PA and corresponding thought processes is unique and extremely insightful. Thanks for this db.
 
Nice analysis db.

I just want to point out at approx 2944, NQ has filled 61.8 of the rth opening gap from 6/20/13. That gap fills at 54. Factor in magic numbers and your at 55 and 60.

Fwiw, there is some significant weakness based on volume analysis at the 40-44 level. I would not be surprised at all to see a major retracement, although still an up day by the close.

Trade On!
 
Quote from tiddlywinks:

Nice analysis db.

I just want to point out at approx 2944, NQ has filled 61.8 of the rth opening gap from 6/20/13. That gap fills at 54. Factor in magic numbers and your at 55 and 60.

Fwiw, there is some significant weakness based on volume analysis at the 40-44 level. I would not be surprised at all to see a major retracement, although still an up day by the close.

Trade On!
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Note, however, that this is about behavior, not indicators. And I'm leaving volume out of it since so few people understand it and it is, in the end, too much of a distraction to be worth it.
 
In the event that anyone is playing with demand and supply lines, the very short term demand line was broken just at the dbl top at 46. If trading more than one contract, that would be a good spot to exit one, particularly given the dbl top. Or one could have exited entirely and gone short. Depends on your tactics and how you define, in advance, what you're looking for and what you plan to do about it if and when you see it. One could also have held onto any remaining contracts and exited at least one more when price fell out of the sideways congestion at 1035, waiting to see if it holds above the midpoint of this rally (around 32). But, again, all this should be decided IN ADVANCE. :)
 
Two tests of 38. If you're still long, this may relieve some of the tension you're probably feeling. If you're short, it may provide good reason for getting out and thinking about re-entering your long.

Yet again, all this has to be decided in advance. You must know what you're looking for before you can recognize it in real time.
 
A higher high, bumping up against that half-hour congestion. And now another test of 38, though still holding above 32.

Be that as it may, my trading session is over. But I'll draw all of this up after the close and post it then.

Hope you enjoyed yourselves today.
 
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