Next week in addition to above: Data point: FOMC announcement next Wed ========================================== So..., price BO and down..., out of the horizontal channel today Do I nuke the context and redo..., leave it..., modify it..., or what ============================== The purpose of context - is not to forecast - it can't do that..., it won't do that..., it was never intended / meant for that Rather it is to gauge / measure current PA If I were to nuke it - that's me formulating the opinion price is not returning (at least it the foreseeable future to retest If I were to redo - why..., and to what end - been working so no need to monkey with it It I were to leave it - that means it must serve its intended purpose - to be able to gauge / measure - does it???? I don't think it does with enough accuracy That leaves me with modifying ============================== Price is at the DM channel's mean - will it remain in the upper half of the DM channel..., and ultimately return to the upper boundary Or..., will it traverse to the lower half..., and possibly even go to the other (down) side boundary of the channel No clue ========================= The plan..., create a range for Monday (based on price) and trade the BO either way One thing pretty sure - next week will be volatile (and I hate volatility) ================================== Side note When creating context - too much is never better Keep it simple..., straight forward..., minimal.., and accurate Otherwise the PA gets covered up.., the context send mixed signals..., causes massive confusion in the ole head Till Monday RN
It is hard to know who to pay attention to when you are starting. RN is giving you a set of keys to the kingdom.
i'm curious - what are you adding to...stock, or options? [or are you selling Puts? :eek: Yikes, look out below!] marc
Hooti You are too kind Sir Thank You ================================= LWC Few random thoughts I seriously doubt price will simply BO of the last range (box I posted) and go Pretty much guaranteed techniques will be employed Pretty much guaranteed price is going to be bounce around before heading off ========================= We don't think / trade like BSDs (BSD..., big swinging dicks) The one's with enough money to move / affect price..., the one's with the psychological make up to know how us little traders think / trade..., the one's who utilize techniques to exploit us little traders Granted.., some participants don't have the time / inclination to be bothered..., but..., rest assured there are some who do ========================== Volatility = directional-less momentum Momentum = directional volatility They are essentially cut from the same bolt of cloth.., meaning they're a couple of the techniques employed to achieve the same results (lure in..., run stops..., shake out..., trap in..., trap out) There is also extended momentum (extended directional move lasting several minutes..., to hours..., to most of the day) - this is a different animal..., and not to be confused with above ==================== Shorts exiting..., has the same affect as longs entering Longs exiting..., has the same affect as shorts entering But each do so for totally different conditions (whether those conditions actually exist..., or are being orchestrated) Price can be made to appear weak - right before it shoots off to the moon Price can be made to look strong - right before it drops like a rock These are also techniques employed ========================= Us little traders think in terms of over bought / over sold..., weak / strong ..., MAs..., all sorts of esoteric things None of which has anything to do with the price of tea in china BSDs think in terms of making money..., **creating/ providing liquidity..., risk mitigation..., order flow Which establishes the price of tea world wide Note ** Please do not confuse creating and providing - they are opposite ends of the spectrum in their intent (one is an obligation..., other is a technique) ================= Our job is to exploit..., not be exploited (while protecting our ass (capital) first..., and making money second) Just a little sumthin.., sumthin to ponder Sir RN
$FB looking good from my entry point Friday at $102.22. Stop in place. Let's see where it runs from here.