Sounds like he has an edge if he's been making these sorts of calls for as long as you say. Did he make any trades today?
Today he bought at just about the low at 1910.25. Out at 16's and 22's. Basically the same everyday. Buy the low or Short the high. Make a ridiculous number of points. I think he's away for a few weeks holiday soon, so i'll be screwed! Have to avoid temptation to place my own trades and lose money, lol. I'm pretty convinced that he must have some kind of insider info or specialised info from his banking contacts or something now. No way can somebody get it right so often with such accuracy with charts or retail tools (at least not without the benefit of hindsight) .
Out of curiosity... where did he buy at 10.25? This level is the red line here, and there are several places where he could have bought. After the news release, we can see that we have a low at 10.50 that could very much be on our radar. We see price drop below, but then it double bottoms. If his entry was after this double bottom, which was at 07.25, then it makes sense why he could be buying this. If anything actually, this call seems almost a little later than some of his other ones which he entered within ticks of the ultimate top or bottom (here its 3 points away from the bottom). So do you have a time for when he made this call so we can figure out where he bought?
I think it was the green dot. Looks bearish as hell to me in fact! Tested the low from the news spike, and then on the 3rd push fell through it! I think chart traders would be shorting where he bought, looking for support to become resistance and for a further breakdown
Interesting.. thanks. Its very aggressive of a trade, based of course on what little... very little... I know. Well... blows my theory of the double bottom out of the water. Hey NoDoji, if you are still reading, even though you said you won't say anything, does this trade make sense to you as well based on however you're looking at the market?
agree with kp, an aggressive trade.. beyond aggressive FIVE retests of low(i count) long the breach of the SIXTH!:eek: ps kp, please don't draw a pentagram to summon the dark forces
You'll have to help me out here as I'm totally clueless about the meaning behind this part of your post?
I made a correction to one of KP's chart that he mentioned in your other thread. I redrew the trendline, hopefully it will help him better understand why the trade was entered at that point in time. http://www.elitetrader.com/et/index...ugglers-out-there.285900/page-43#post-4192563
But please note that just like a one-liner sentence gives no clue to the entire book, a chart marked with only one entry or exit serves no purpose for anything, especially if you really want to know the guy's modus operandi. So, if you want to know the PATTERN, show more trades on the chart.