scratch. strength evaporating I like this system..gives an overall decent directional edge for scalps.. fairly neutral now - indicating maybe finish with small range
I don't like alot of heat - conviction can kill..what do you think a scalp is ? ha.. all I'm doing is reporting the pattern analysis of nq/es spread and comparison..remember, I have some adjusting to do - need something fairly concrete and objective..this helps..
Today's Monday, dude, stop livin' in the past ... As for who's buying, most buys and sells on the ES are institutional trades generated by computers. Anyone happen to see where that LOD on the retest came in? If you have better odds of winning the lottery than winning at trading, stop trading, imo. Market gives you all the information you need - think like a computer, or rather a computer programmer. Ask yourself "if I wanted to program an algo to take advantage of that price action pattern or behavior, what would I instruct the computer to do?" If you can answer that, then you can trade it. Think about it this way: Most trades in the ES are done by computer. Do you think the programmers are writing code to trade based on entering orders to go long when the arccosine of x is equal to the inverse cosine function of x? Or do you think that that instead the code is written to take advantage of successful defense of price levels that the computer can be programmed to discover as PA unfolds just as we can with out eyes? The place where the computers have the advantage is at the microtick level where you'd have to be an idiot savant with Asburger to discover these tests and reverses. I can't compete there. But I can look at a weekly, a daily, and a 240 minute and see what's going on, do some simple math (and no ... not fibonacci - math based on what is clearly visible and calculable on the charts) I'm not saying I'm always right ... heck no ... but I am right more than wrong, and my rights are always orders of magnitude larger than my wrongs, e.g. today average 16.5 points closed profit/contract traded versus average initial loss of 4 points (ok, so maybe not "orders of magnitude") but still that is fairly typical and much better than calling the use of a 75 point stop because you are clueless as to what is most likely to happen next.