Another "Price TA" play... (TA haters ain't gonna like this one)

Most of ET members are on ingore.

 

Just checked my ignore list and it seems like everyone who's ignored me in the past came on my ignore list for some reason. You're removed from the list, f**kers. I'm not a fan of that functionality at all.

 

I wouldn't expect many to notice that "bottom of channel"... do most players graph channels regularly? If not, they should. Many S/R "possibles", don't get tested or break. So.. you draw them up then watch to see what happens. Of course one can be more aggressive about the "most obvious ones"... like the down arrows at 19700.

 

Lol. What channel? You had no idea the 19150 level was going to act as support until AFTER the fact.

These are all of the adjustments you would have to make along the way before ending up with your channel.




By the time you got the bounce from 19150, and you confirmed it as a bounce, it would be too late to take a long position, so you get ready to short it at the top of the channel, where you would have been handed your hat and stopped out lol.

 

Thanks Scat. Keep up the great work.

I look forward to your next lesson.

 

I don't do "lessons" on TA... I only direct traders' attention. (I don't mind showing traders "where to fish", but I'm not going to "bait their hook and cast their line for them" too.... if you "get my drift"... also a fishing term, pun intended.)

That said... looks like the market is working its way back to 19700*, NQ, again. If it holds, it means something (at least temporarily). If it breaks out, it also means something.

*Seems some players "don't get it" unless somebody makes a specific trade recommendation. So, here's this one.... "Sell and or short IF NQ tests 19700 and IF it appears to hold/have held... with a tight stop". This one is SOOOOOO OBVIOUS that it really shouldn't need to be specifically stated.

AND... There are 3 other obvious support trades not maked. These aren't "potential" or "theoretical" setups... they have already occured. Can you identify?

FWIW...

 

It gets lonely at the Top hey?

 

Y'all (well, some of you) whined for a "call in advance".... Remember where I posted... "IF 19700 is retested, and IF appears to hold/have held, it's a sell/short". Remember that? (If you don't recall, scroll up a couple of posts.) Well, here it is. You're welcome.



I never intended to "teach Price TA".. I only wanted to direct attention to it so that traders might recognize the worth, then figure it out for themselves.

FWIW...

 

Said that too, remember?

 

I have been doubted my entire career... but I still "have the money".