The Trouble With Scribbles

[fortydraws]

Here is how I scribbled things up.

I love pretty charts with colors

 

[fortydraws]

That is after all the most important criterion.

I would probably first point people in the direction of thinking about what can be inferred concerning traders intent based on price action, and then consider marketsurfer's feelings. But that's me.

 

[fortydraws]

...this looks more like a long launch than a short at the moment. Doesn't mean I'm right, just cautious.

I'll put this series of three charts up against anything I've seen thus far of other "systems" posted to this thread, imo.

EDIT: And, I would hope it goes without saying (thoug I nonetheless fell compelled to say it) that the market is at a "decision level" where a trader needs to be intent on judging the market's ... intent. Why? Because it is here that price can truly go either way.

 

[dbphoenix]

EDIT: And, I would hope it goes without saying (thoug I nonetheless fell compelled to say it) that the market is at a "decision level" where a trader needs to be intent on judging the market's ... intent. Why? Because it is here that price can truly go either way.

Clearly "big money" is involved here given the lack of movement, the spread of the trades, and all the overlap. Same since Thursday. I'll let them work it out.

 

[fortydraws]

and all the overlap

Death by 1000 stops if you let it.

 

[dbphoenix]

Death by 1000 stops if you let it.

One of the more important aspects of the SLA which apparently a lot of people miss is the provision for getting you out and keeping you out of chop.

 

[fortydraws]

So far every attempt to poke through R has been sold. But except for the opening fracas, the declines have lacked excitement.

 

[dbphoenix]

So far every attempt to poke through R has been sold. But except for the opening fracas, the declines have lacked excitement.

"Judge the market by its own action."

 

[fortydraws]

So far every attempt to poke through R has been sold. But except for the opening fracas, the declines have lacked excitement.

Are we back to the days when the market holds its breath over crude inventory #'s?

 

[dbphoenix]

This is a good example of what I addressed yesterday regarding the intersection of diagonal and lateral ranges.