Time to buy here

Quote from pattern39:

Market WILL close near the low (to generate long red daily candlestick with short/no lower shadow --- you can bank on this!
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In other words, a fluid (high quality), selloff.
 
Quote from Ghost of Cutten:

Stopped out again here, avg 1226. Will keep the options but just gonna wait on the sidelines for now.
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Remember 2008? It's almost impossible to pick a multiday bottom, unless there's a panick selloff, which is highly unlikely because of the algos.
 
Quote from atlTrader666:

Possibly... I'm waiting for the 3:30pm institutional money volume symphony
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Whose enjoying the symphony back to the lows?

I'm buying this at the close if it's drops another 10 pts
 
Quote from pattern39:

That won't happen.
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All I know is that the OP lost like 50 handles on the long side (from Friday)...

Then he BROKE EVEN on a trade being SHORT (Had a Al Brooks tight stop loss).

Then he lost money being long again.
 
Quote from pattern39:

Market WILL close near the low (to generate long red daily candlestick with short/no lower shadow --- you can bank on this!
More...
nice call! what a day!
 
Update - I got stopped out at 1125 avg, dropped close to another 1% on that, down 3% on the ES trades on the day. Just flat and will preserve capital until I feel I have a better read on market conditions. I'll hold the options until an eventual rebound, since the risk on them is limited.
 
Quote from Ghost of Cutten:

Update - I got stopped out at 1125 avg, dropped close to another 1% on that, down 3% on the ES trades on the day. Just flat and will preserve capital until I feel I have a better read on market conditions. I'll hold the options until an eventual rebound, since the risk on them is limited.
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well... you're likely down more than that... IF... you factor in that you and many others could have been short from the get-go today... watched a TV show and went out to a leisurely lunch... and still made money without trying to catch the knife.

I made 6 trades in a row for profit... then took a shot long at NQ 2090... which violated most of what I was taught at CME and/or knew... that is, once we broke 2100 it was as likely we head in the direction of 2000 as we move much back above 2100 again.... today. That one mistake gave back all profits.

Of course this is the first time I have traded futures since 2005. I kinda like it since patterns work, and that is what I have always relied upon coupled with market sentiment coupled with ST and LT trends.

bonne chance
 
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