Students of the market were able to reasonably guess today’s range.
After the headfake north, completion targets were hit in the 2633 area and we advised longs to be careful of holding onto trades today, as we felt consolidation and modest backing and filling was a potential consideration today.
Yesterday’s post we suggested 2619 support until broken after the 2621 high got busted.
Today’s retest of that dynamic was a beauty.
DT4$3 traders have been able to observe these ideas come together during live trading, and many videos (12+ a day) are available for review as they are archived.
These are serious students asking great questions and we all continue to observe, learn, and improve our understanding of the markets.
Some of these traders will continue to work together with us after the completion of this course.
Teamwork: None of us is as smart as all of us. -Jim Rohn
Power chart kicked in today ow.ly/RdEw30gSIuN DT4$3 strange day
Plan was consolidation, back and fill. Longs PFS by 32/33 Shorts hope for gap fill and test 20.75 T1, 19 agg support identified yesterday intact for now DT4$3 ow.ly/bdGc30gTOS5 stolen range said odds reasonable for a short today, but not a plunge
retesting yesterday’s 21 pivot that trapped re entry shorts is a clue ; held first time back. Also staying aware of the 27 high from yesterday as a key marker DT4$3
Today’s interesting move by the Boyz was shake both ends and come back to the middle, a classic Z pattern of consolidation from overbought range yesterday DT4$3
We felt best odds for buy side is buy the shake for AATD (afternoon after trend day) giving market opportunity to consolidate time and price
Slack
—– Today November 29th, 2017 —–
eminiwizard [7:41 AM] thinking today we need consolidation
[7:42] can do more upside but I think yesterday stole some of today’s range
7:42] https://content.screencast.com/users/EMWS/folders/Jing/media/62b58d4a-19a0-43ad-a8dxxxxxxx7-11-29_0738.png (46 kB)
[7:43] xxxx then off to races again[7:44] 29.5 target hit xxxxx[7:44] then xxxxxx
7:45] using xxxxx
[7:45] xxxxxx[7:46] 29.5 is lxxxxxx[7:47]java[7:47] matd is playing out small right now
eminiwizard [7:54 AM] we have hit xxxxx
Zeek Snodgrass [8:31 AM] Senate Vote after 12:00 to proceed with debate and amendments
[8:31] 2638.25 is xxxxx[8:32] using xxxxxx[8:32] xxxx complete[8:33] this could be a market crack up rally similar to 1999[8:33] tech rallied xxxxx[8:34] that wouldxxxxxx[8:35] ES xxxxx is Goldman’s target for next year[8:35] I don’t trust anything Goldman gives away free[8:36] MATD with stolen range yesterday makes it hard to see another RDD up
[8:36] thinking new highs IB followed by 2 hr pb
eminiwizard [8:38 AM] thanks zeek
[8:39] wizard widget makes it easy to see the levels[8:40] u made great post about the 2626 yesterday and the xxxxx[8:41] aggressive resistance needs to be xxxx[8:41] xxxx
evan [8:42 AM] also xxxxxx
eminiwizard [8:42 AM] yes
[8:42] xxxx[8:42] xxxx
Zeek Snodgrass [8:42 AM] I hope that yesterday’s volatility hints at better times ahead for day traders
eminiwizard [8:42 AM] from 2627 high
[8:43] yes[8:43] agree[8:43] and trick is to take stop[8:43] jump in ride it[8:43] then go with current flow[8:44] program trade that last afternoon push
evan [8:44 AM] be a lover, not a fighter is one of the most important things I’ve learned from this and prior DT4$ classes
eminiwizard [8:44 AM] very clear
[8:44] agenda[8:44] nice[8:45] xxxxx[8:45] for simplicity[8:45] xxxxx[8:45] xxxxx
Zeek Snodgrass [8:47 AM] xxxxx
eminiwizard [8:47 AM] 26.5 middle test and gap is 25.5
Zeek Snodgrass [8:48 AM] 19 is previous demon before the giant reverse wrecking ball
eminiwizard [8:49 AM] yes and mid that last swing
[8:49] brb
eminiwizard [9:01 AM] https://content.screencast.com/users/EMWS/folders/Jing/media/73d701ea-8e7d-4cae-9d52-4dc12b59eb62/2017-11-29_0901.png (86 kB)
[9:01] 15 globex
eminiwizard [9:13 AM] https://zoom.us/j/440281877 zoom
eminiwizard[2:01 PM] https://zoom.us/j/736282277 zoom
zOOm
09:13:53 From Dennis Parmelee : good morning
09:14:14 From Dennis Parmelee : gap traders have had 1 pass already at a scalp short
09:14:31 From Dennis Parmelee : longs matd have had minimum 1 buy
09:18:37 From Zeek Snodgrass : Janet Yellin and Pending home sales at10am
09:18:44 From Zeek Snodgrass : oil inventories at 10:30
09:19:05 From Zeek Snodgrass : John William at 1:50 and Beige book at 2pm
09:23:10 From Zeek Snodgrass : today’s rth range could be about 12-15 pts
09:32:06 From Dennis Parmelee : ty zeek
09:33:54 From Dennis Parmelee : 26.75 half gap
09:34:44 From Harvey : /NQ getting wacked
09:36:16 From Dennis Parmelee : yes testing 6400
09:37:00 From Dennis Parmelee : if u really want to take only 1 or 2 trades today
09:37:04 From Dennis Parmelee : better to wait
09:37:20 From Dennis Parmelee : allow consolidation
09:41:38 From Dennis Parmelee : matd wins
09:41:47 From Dennis Parmelee : chasers be careful
09:42:47 From Dennis Parmelee : symmetry done with 27
09:42:57 From Dennis Parmelee : 27 now mid
09:43:04 From Dennis Parmelee : congrats if bought
09:43:19 From Dennis Parmelee : i didnt feel it
09:45:39 From Dennis Parmelee : always another bus
09:46:18 From Dennis Parmelee : 31.5 is xxx
09:47:51 From Dennis Parmelee : wac a mole today may work better than yesterday
09:48:09 From Dennis Parmelee : meaning new highs that we hit may have better traction
09:48:27 From Dennis Parmelee : but i think hit and run both sides ok
09:48:45 From Dennis Parmelee : and likely trend buys are just as good this morning
09:56:13 From Dennis Parmelee : t1 32.75
09:56:22 From Dennis Parmelee : news at 10
09:58:15 From Dennis Parmelee : completion targets 33 nd 34.5
10:01:05 From Dennis Parmelee : wac a mole trades
10:01:11 From Dennis Parmelee : think small
10:01:16 From Dennis Parmelee : and accumulate
10:01:28 From Dennis Parmelee : was easier to just go wth trend
10:01:39 From Dennis Parmelee : take shot at the middle trade
10:07:50 From Zeek Snodgrass : still have 25.75 gap to fill
10:08:27 From Zeek Snodgrass : 29 angel, 31 demon
10:20:13 From Zeek Snodgrass : mirror image day has better odds
10:20:37 From Zeek Snodgrass : xxxxxtarget of yest range
10:21:31 From Zeek Snodgrass : spit ball?
10:23:50 From Zeek Snodgrass : I have 21.5 support once we get below 25
10:23:50 From Dennis Parmelee : pfs by gap
10:24:03 From Zeek Snodgrass : then 19 and final of 15.75
10:27:19 From Dennis Parmelee : brb
10:27:51 From Zeek Snodgrass : Nq down 1.3%
10:28:16 From Zeek Snodgrass : watch for next ;leg down after 10:30
10:30:47 From Zeek Snodgrass : bears won first hour
10:51:00 From Zeek Snodgrass : Nq was down 100 earlier, that must make it cheap?
10:51:40 From Zeek Snodgrass : if NQ is down more than xxxx today, watch out below for market
10:52:06 From Zeek Snodgrass : that would be about xxxxx
11:00:51 From Zeek Snodgrass : NQ testing rainline support
11:02:15 From Zeek Snodgrass : 30 min chart
11:02:27 From Zeek Snodgrass : ES 30 min chart xxxxx
11:02:51 From Zeek Snodgrass : xxx is rainline area 30 min chart
11:03:05 From Zeek Snodgrass : do or die area around 25 as E said
11:03:21 From Dennis Parmelee : u like buy?
11:03:36 From Dennis Parmelee : try for scalp long 22/23 support
11:07:04 From Zeek Snodgrass : Financials is only group supporting ES
11:07:12 From Zeek Snodgrass : otherwise we would be testing xxxx
11:07:25 From Zeek Snodgrass : I think the financial rally will be done by tomorrow
11:07:42 From Zeek Snodgrass : Powell suggested that Dodd-Frank be rewritten
11:09:42 From Zeek Snodgrass : NQ is the compass for me today
11:10:53 From Zeek Snodgrass : break 23.25 low and shorts have controi
11:10:59 From Zeek Snodgrass : we should know by start of lunch
11:11:57 From Zeek Snodgrass : rainline hit on 5 min globex chart
11:12:18 From Zeek Snodgrass : takes time to resolve the globex low
11:12:43 From Dennis Parmelee : dont overtrade right now
11:15:59 From Zeek Snodgrass : 27.5 new angel
11:23:41 From Zeek Snodgrass : NQ bounces being sold
11:23:56 From Zeek Snodgrass : fight for rainline is a tough battle
11:37:10 From Zeek Snodgrass : watch for xxxxx
11:37:13 From Zeek Snodgrass : range
11:41:30 From Zeek Snodgrass : NQ new lows
11:44:23 From Zeek Snodgrass : NQ 6295 is xxxx
11:44:29 From Zeek Snodgrass : see if it still supportive
11:45:02 From Dennis Parmelee : 22 bingo and more is good fortune
11:45:36 From Dennis Parmelee : t1 20.75
11:59:38 From Zeek Snodgrass : looking for some type of lunch bounce, may be only 3-4 pts
12:00:18 From Zeek Snodgrass : 20.5 was teh high before the extreme volatility
12:12:30 From Zeek Snodgrass : above 24.5 and shorts get squeezed….again
12:12:54 From Zeek Snodgrass : xxxor thsi hour
12:13:24 From Zeek Snodgrass : NQ chart damaged today
12:13:37 From Zeek Snodgrass : they 4 hours to fix’er up
12:14:18 From Zeek Snodgrass : doesn’t you gut want lunch?
12:18:54 From Dennis Parmelee : 27 +/-xxxx
12:19:48 From Zeek Snodgrass : IBL 2625.25
12:19:53 From Zeek Snodgrass : very agg resistance
12:20:18 From Zeek Snodgrass :xxx is NQ rainline
12:26:44 From Dennis Parmelee : bbial
12:34:00 From bc : Heres a good lunch time read
12:34:03 From bc : https://www.themacrotourist.com/posts/2017/11/29/tax/
12:44:56 From Dennis Parmelee : pfs 27 if long
13:29:07 From Dennis Parmelee : low is likely in
13:29:18 From Dennis Parmelee : in a true mirror day
13:29:35 From Dennis Parmelee : we would come slamming out the bottom
13:29:45 From Dennis Parmelee : doubting that
13:30:57 From Dennis Parmelee : z pattern
13:32:04 From Dennis Parmelee : rebooting back in a few
==================
Afternoon
14:03:11 From Dennis Parmelee : consolidating
14:03:39 From Dennis Parmelee : just as much oppty for longs buying the weak pullback
14:03:54 From Dennis Parmelee : using 19 support
14:04:02 From Dennis Parmelee : as aggressive idea
14:04:09 From Dennis Parmelee : AATD
14:04:16 From Dennis Parmelee : afternoon after trend day
14:04:27 From Dennis Parmelee : better than miserable chop
14:04:38 From Dennis Parmelee : like stay inside overnight range
14:04:53 From Dennis Parmelee : so this was miracle move
14:05:09 From Dennis Parmelee : weak pb because so far
14:05:24 From Dennis Parmelee : only got back to the xxxx
14:05:44 From Dennis Parmelee : angel 22.25
14:06:06 From Dennis Parmelee : 2 rotations short
14:06:09 From Dennis Parmelee : then bounced
14:06:17 From Dennis Parmelee : but weak bounce
14:06:20 From Dennis Parmelee : under 27
14:06:35 From Dennis Parmelee : flat blue line 5 rth
14:21:11 From Zeek Snodgrass : bbi 60
14:21:18 From Dennis Parmelee : ok
14:21:30 From Zeek Snodgrass : NQ close is very important
14:21:39 From Zeek Snodgrass : ES looks like heading for Doji Day
14:21:58 From Zeek Snodgrass : volume is higher than yesterday
14:22:05 From Zeek Snodgrass : that may be telling that rally is ending
14:22:45 From Zeek Snodgrass : vote on motion to debate and add amendments to tax bill is going happent his afternoon
14:22:56 From Zeek Snodgrass : I have no idea how the bots will react
14:23:09 From Zeek Snodgrass : but gettign extra quart of 5w 30 jic
14:29:31 From Dennis Parmelee : es 60 min chart
14:51:10 From Dennis Parmelee : 8:36] thinking new highs IB followed by 2 hr pb zeek s post
14:51:40 From Dennis Parmelee : 19 is previous demon before the giant reverse wrecking ball
14:51:49 From Dennis Parmelee : another great post by z
15:15:36 From wei : is this decending triangle
15:16:10 From Dennis Parmelee : maybe
15:16:26 From Dennis Parmelee : usally get a db first though
15:16:32 From Dennis Parmelee : havent done that yet
15:19:08 From wei : thx
15:22:24 From Dennis Parmelee : shorts payday is 22/21
15:22:44 From Dennis Parmelee : 21.5 is xxxxx
15:34:12 From Dennis Parmelee : doji day is 25.5
15:35:37 From Dennis Parmelee : still a descending triangle?
15:36:16 From Zeek Snodgrass : slim jim since start of lunch
15:36:34 From Zeek Snodgrass : continuation is down
15:37:17 From Dennis Parmelee : slim jim is about 6 pointe
15:37:22 From Dennis Parmelee : so mid is 23
15:44:39 From Zeek Snodgrass : How about wac a bull day tomorrow
15:46:00 From Dennis Parmelee : doubtful
15:47:10 From Dennis Parmelee : 5 rth the problem
15:47:19 From Dennis Parmelee : rain at middle
15:47:22 From Dennis Parmelee : week
15:50:33 From Zeek Snodgrass : doji is baby step toward trend changing
15:51:02 From wei : can you explain why it is symetry?
15:51:54 From wei : not sure which you refered when you mentioned
15:57:47 From wei : i understand that, you mentioned 95 is xxxx
15:59:40 From wei : why you choose 95 xxx
16:01:10 From wei : before es goes to xxxxx
16:05:03 From wei : i think i get it. thx
16:05:04 From Zeek Snodgrass : dfd gn
16:05:40 From wei : great
16:08:16 From wei : thx
16:10:34 From wei : so xxxxx
16:12:06 From wei : yes
16:13:24 From Dennis Parmelee : typically yes
16:13:28 From wei : this is great
16:13:33 From Dennis Parmelee : called xxxx
16:13:40 From Dennis Parmelee : by the cowboy
16:13:50 From Dennis Parmelee : ken roberts
16:14:23 From Daniel : can you discuss (summarize your system), the cost, and how you teach your system? Spreadsheet etc..
16:15:14 From Daniel : how much have we seen in the course thus far?
16:16:52 From wei : is 19-20 a pivot point ?
16:18:24 From Daniel : So go back, watch all the vids, take notes and it should all come together. per say
16:20:43 From Daniel : after the course, do you and Zeek typically post and discuss ideas in the slack general room or?
16:21:37 From Daniel : absolutely, understand and totally appreciate your time and passion
16:22:25 From Daniel : the videos will be available for how long? is there a way for us save or preserve them for future reference?
16:23:47 From bc : thats good to know
16:23:52 From Daniel : thank you
16:25:34 From wei : thx
16:26:37 From Daniel : this course ends when?
16:26:39 From wei : now symestry is complete
16:26:57 From wei : too quick
16:29:00 From bc : thanks
16:29:07 From bc : gn
16:29:09 From Daniel : GN
16:29:16 From wei : gn
16:29:17 From Dennis Parmelee : gn
