When do we tank ?

Quote from RichardRimes:

...........when there are no more threads like these on ET
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I was bullish all along 2013, even in the same thread you also hang around with ,"ES Journal", but this time the charts represent a serious technical menace.

I'm not short yet, but I've begun to exit my positions and preparing myself for the high probability market correction or sideways action.

I apologize for talking about trading in a trader's forum.
 
TF it was said " tongue in cheek" :)

However if the market is self correcting it will tank 100-150 ES pts when you "least" expect it...when all seems smooth sailing. Like everyone else and their mother I'm net short so until we all throw in the towel I really don't expect a tank...sigh:(

oh and we already have seen it pretty much sideways...which could continue for another month in lieu of a "correction"
 
Quote from RichardRimes:

TF it was said " tongue in cheek" :)

However if the market is self correcting it will tank 100-150 ES pts when you "least" expect it...when all seems smooth sailing. Like everyone else and their mother I'm net short so until we all throw in the towel I really don't expect a tank...sigh:(

oh and we already have seen it pretty much sideways...which could continue for another month in lieu of a "correction"
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Appreciate the trading talk, thank you.
 
For illustration purposes I included the channel breakout from the 90s (the one revisited during the subprime crisis).

ic2ys6.png
 

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That steep selloff on 1/13 that busted out lower and then was ignored the next 4 days afetrward, does that worry anyone? :confused:

That was no freak accident.:eek:
 
Quote from kerry888:

That steep selloff on 1/13 that busted out lower and then was ignored the next 4 days afetrward, does that worry anyone? :confused:

That was no freak accident.:eek:
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No technical damage to the bullside yet, not even close, so I have no idea what you referring to, couple of red days of volatility ? That's nothing bearish, and theres plenty of support intact.

The channel shows potential resistance, it needs to manifest itself now, it has not.

It's a warning, all it is for now.
 
Quote from Trader.Fighter:

No technical damage to the bullside yet, not even close, so I have no idea what you referring to, couple of red days of volatility ? That's nothing bearish, and theres plenty of support intact.

The channel shows potential resistance, it needs to manifest itself now, it has not.

It's a warning, all it is for now.
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Guess that would depend on your TF.

That breach reached down to just above the highs of 12/18 and 12/9. The selloff was steep and unrelenting for 5 hrs. It punched thru multiple levels. Since then Fri broke thru Thurs LOD, covered the GAP from Tues>Wed but barely BARLEY violated Tues HOD.

Read b/w the lines :eek:
 
Quote from kerry888:

Guess that would depend on your TF.

That breach reached down to just above the highs of 12/18 and 12/9. The selloff was steep and unrelenting for 5 hrs. It punched thru multiple levels. Since then Fri broke thru Thurs LOD, covered the GAP from Tues>Wed but barely BARLEY violated Tues HOD.

Read b/w the lines :eek:
More...

Insignificant characteristics for the future.
 
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