It hasn't changed much on the daily. Price got here so fast. In any case, there may be equally easy money on the way down to the lower limit of the trend channel. We'll see what happens tomorrow.
LOL.. I'm wrong again! Would you say that since our bounce higher off the mean a few days ago didn't bring us back to the top of the channel that it means venturing below the mean is more likely now, perhaps at least the same distance lower as we tried to go up from the mean? I guess we first have to first see weakness, but it seems like you are thinking the LOLR is down and I'm wondering if this could be why the market might be tipping its hand in this direction.
Maybe. Supply clearly has the upper hand. And we're already seeing weakness, at least since 40 was rejected. I doubt the market is falling because I'm thinking the LOLR is down. Price could also revisit the daily SL at 4030 (+/-), but I don't know why it would given that 4000 is only a memory. We'll see what the market says. Lower limit is around 3770, at least it is now.
Wow... I got a maybe.. I'm on the right track! Incredible to think we have gone almost 100 points down since yesterday. I am a firm believer in your "trade or make money" statement, and hence the elegant beauty of trading less to make more money isn't lost on me. I just like to take the hard way sadly.
You're welcome! Sometimes you gotta stalk Db to figure out where he is posting. Mixed in with the plethora of posts in the Politics and Religion forum, you sometimes find a gem! (not to be confused with Jem who seems to argue a lot with him! LOL)
Those who are interested in this will note that yesterday we penetrated the SL drawn off the high. What matters, however, is not that we penetrated some line or other but that demand was strong enough -- after the news, the reaction to which is unpredictable -- to get us there. Now we have to see if demand can keep us here. Otherwise, this may be nothing more than a Vanguard rocket.
At what point would you say yesterday's movement was just because of the news? Dropping back below the daily sl? Seeing how far we pullback? Hourly we have a dl break below early/mid septembers range but still trading above 50% of yesterday's movement and above the daily sl that broke. Dropping below 14 would trigger an hourly sell also.
You posted this at 5 mins after the open. I have the high for this minute at 4026 (Dec). Lets (generously) assume you were filled here. 10 mins later, market is at 34.25. You're 33 ticks offside. The maximum profit you could have earned is getting filled on the bid at 21.25, the low of the bar 1 minute after you posted, for 17 ticks profit. I'm gonna assume that you didn't cover a minute after you told ET about your short. So you lost on this trade? Why not post your entry price, exit price, profit/loss? Or why not post your target? This thread is called "potential NQ targets" not "open ended trade calls". If I was a newbie wanting to learn daytrading, I'd sure want to learn from someone who had better timing than sitting through 30+ ticks of heat. New/small account traders have zero reason to do this. How much heat do you need to know you're wrong? Or are you still short? Or did you cover at e.g. 4012? By holding while offside? Just some simple questions. Without more information your declaration about a "failure" to hold some price level is of zero value to anyone trying to make money trading. By the way, I think anyone who is trying to teach a trading method, claims to be trading the method themselves, yet won't post any of their fills (where they actually traded) shouldn't be trusted. There is simply no evidence. There are so many frauds and showing your trades to illustrate how you apply your concepts in real time is so easy to do...yet the "gurus" shy away. I wonder why. So DB, care to tell us where you actually traded? Or show a statement? It would be OK to use a paper trading blotter if you are no longer trading live. The main point is that you show how the concept is applied in real time, not some vague call about shorting with no indication where you got in or out.