Eh... People are stupid and can't recognize a pattern. We have been having three to five day rallies for three months and they are surprised when there is another? LoL... The pattern is going to change after OPEX, but still... Hilarious... Hmmm... This is interesting. Finally got my first *Distribute* signal today... Tomorrow or Thursday we turn over. Prepare to short once the bears capitulate!!!
Been trading since 1998, fulltime and profitable since the end of '99. Ok, maybe it's easy for me to be perplexed when I have a lot more experience and a finely tuned approach to draw from but even still, I think for even an average trader, today was pretty easy (pre 3pm). I don't mean easy for someone who isnt paying close attention but for the trader who is watching the market intently, alignments on multiple time frames set up beautifully at several key spots today. 9:40, 10:25, 11:35, 11:55 and 12:20 specifically. 14:55 was also good but didn't offer as much of a reward. It was a quick dime on the Spy with no heat. I guess my point is that, if you or anyone else got "faked out" today, you should work harder at staying in sync with the market and look to spot key moments where the market changes direction or tone. With some practice, you'll be able to finish a day like this feeling good rather than dumbfounded by what took place.
Probably one of the EASIEST days to trade the ES. simple EUR/$$$ signal that gave super clear sell signals all the way down, and then buy signals just off the lows. see that low??? buy right about there, stop under the low... and let it ride!!! then my system said sell on the close to book bank!!!! for FOUR easy payments of $1999.99 each, I can teach you how to look at a chart the same way. all the other gurus LIE!!! send me the money!!!!
Quite convenient that the market always sets up at a time ending in 0 or in 5. Where's the love for times ending in 1,2,3,4,6,7,8 or 9?
Those are the 5 min bars I used, but my exact setups/trade moments sometimes came within those bars. 10:27 being a prime example of a cycle that finished on the 1 min and aligned with the 5 min sentiment for a short entry. But there is quite a bit of love for the 0 and 5, no doubt about it.
I bet tomorrow will be even easier! I'll tell you all about it at the end of the day! Full disclosure: No trades today. 6 Signals, but all got filtered for one reason or another. Too bad that downdraft was so strong or I'd have been riding 3 longs on the ES, Euro and Crude from right after the turn into the close. C'est la vie.
I got long at 12:21 because the 12:20 bar traveled to at or above .95 and on increased volume. That was a setup based on my method. The longer frames were in long mode for me and the short frames did what they had to to trigger a trade.