I trade CL all day long and am flat at the close. As for trading gold on the short side over the past year, since I've never traded gold I must've missed the post last year where you told us to do that.
How about melt up behaviour. Cant be a panic squeeze here. Daily limits on ES seem about 6-10 handles. Disruptives tricks and traps that all traders are expect do not happen. Support and resistance on a daily bar time does not apply(all time highs daily). 180 to 185 once it starts will be a low volatility melt up. With low volatillity big money(or any money) can lever up into the year end to "catch up". I know all the above hints at conspiracy( must be a maestro somewhere) but i look at the sp500 individual stocks daily and i am Surprised at the mirco rotation that seems to occur when a leader fails and "nets out" to accomplish a meltup. Energy is due to take us into the New Year ramp job if retail fails. Ha. Off topic but you have to admit that a melt up is interesting market behaviour.
BD, I trust this exercise has, at a minimum, been eye opening ================== btw; It frustrating to share, only to then have it bastardized =========== Fact; âSupportâ is breached and converted to "Resistance" because / whenever; Buyers are not present in sufficient number â to defend/ maintain support - drive priceâs advancement AND Sellers are present in sufficient number â to stop / reverse priceâs advance - drive priceâs decline Barring shocks â transfer of control is made in advance of a breach/ conversion â albeit S2R or R2S The footprints are there for the reading Now; Accept the above⦠or not⦠But no need to complicate it (or bastardize it) RN
Self-fulfilling prophecy. It's good that such a thread appeared in "psychology" area, cause technical levels are actually psychological in my view.
Aren't you the same guy who is in community college but claimed you would turn down a 300k job on Wall Street because you took out 2 points everyday on the ES ?
Community college yes. Never claimed to take out 2 points a day on the ES, although if I did I wouldn't take the job. And I don't think I ever said I wouldn't take the job...i actually beleive I said I would take the job even though I would not want to work that much.
There are plenty of guys that would turn down 300K on the street to stay independent. I don't think there was ever a point in my life where I would have been tempted by that type of 300k offer ... even 30 or 40 years ago when that was awfully big money. BTW ... a consistent net 2 points a day on a 20 lot can also be a good deal of folding money. I don't get why that some people prefer making their own rules rather than playing by someone -- anyone -- elses seems to surprise people.