you may note that almost all of today's long setups started as a 1 tick short trap, this happens a lot (also 1 tick long traps for downtrends)
I thought of Bighog telling me about the "big dogs" and how they go sniff at the hydrant before they mark it. The hydrant now being all-time highs, and the dogs are roaming closer to give it a sniff. Here are some awesome words of wisdom Hog gave me years ago: Try to look back a couple bars next time and put yourself in a really big dogs shoes and look ahead at the same time to visualize what he/she will want to happen. You will amaze yourself after doing this process over and over, day in day out as it will demystify the technicals of the mkt. Always pay attention to price as if it is the entire industry telling you something, let the big dogs bark at you. No single trader can cause a "RUN", it takes the herd to move price when it matters the most. Listen to price as a voice, price is your Teacher, your mentor, your lover. On reports, in general it is best to let the number come out first before you trade them. They can be a crap shoot because we never know how the big dogs are positioned coming into the report. Paul Tudor Jones might be very short and expecting a very bad number and across the aisle Goldman sachs might be LONG and expecting a very good number. Expectations of the reports numbers thus are probably more important than the number itself. Thus just follow the price after the report hits. Horizontal points of support and resist from previous charts are gold when you use them as targets. (as well as intraday charts naturally).......just assume in your head that the other traders are eyeballing those same spots to exit a loser or to initiate a trade, maybe do an add-on, etc, etc. What matters most is getting a feel for certain spots on the chart that will draw attention. As you become more attuned to those spots you can verify your prowess and watch what price itself does when price hits the spot. You will observe a battle all of a sudden break out between the longs and the shorts as they fight to beat the other guy............then if all works out you will see price follow through and possibly make another leg if one side defeats the other side and the losers throw in the towel to help the victors follow through. Forget volume and all that other useless junk...........price is what gets the dogs off the porch and chasing the cars....OPP's, chasing price. Think of how the dog on the porch sits there and waits for the car to come down the road BEFORE the car gets to his porch. the dogs anticipate the car coming and leap off the porch and are ahead of the car as the car comes along. Dogs are prepared.
dunno...OP EX week is usually up so you could win out...however if it doesn't hit 1850 this week then EMG might have the edge...
Bull flag channel between 12/31 and yesterday on the daily chart breaking out today...if the highs can break with conviction, I wonder if there's enough buying interest to set up a measured move. That would take price well beyond 1850.