Timing
Late Shorts are Wrong Way CharlieThe E-widget
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The focus is on finding low-risk, high odds trade ideas
for the E-mini S and P.
“You are as young as your self-confidence,
as old as your fears; as young as your hope,
as old as your despair.
– Samuel Ullman
Fortune
“I understand reversal of fortune;
that usually has come through my own hand,
but you know, you live life on life’s terms.
– Robert Downey, Jr
Thoughts
I felt the market was not ready yet for a freefall day. We will get one of those, but not today I told EMWS traders this morning.
I laid out the thesis for a two way day, with a snap back on shorts likely if we could hold the 58/62.5 zone.
the ferocious rally ensied after the IB contained the low, and I suggested we could still test the 2600+ for the 2606.5 next target detected byThe Emini wizard System.
The 2574 retest was perfect during lunch, and the strong bounce confirmed my thinking that the low was in and we would not revisit 2568 again today.
We have a number of new traders who invested in our system and we spent lunchtime reviewing the mechanics of the spreadsheets and the E-widget.
Many traders on twitter think its foolish to invest in trading products and services, but the serious traders we are attracting understand it’s a short cut to learn from someone else’s experience.
Especially when they see how every day we guess rotations within rotations.
E [9:10 AM] this style of trading is sequence trading, we focus on rotations within rotations
the smaller rotations inside the larger ones it allows us to play any time
Don [9:11 AM] Yes I see and the 68 good call
E [9:12 AM] and accumulate capital we pay attention to exact support and resistance and then one by one determine next rotations. forget about predicting these grandiose targets. they sound good and catch newbies attention when someone makes a bold prediction and is right one out of ten times
u want to be a pro? grind it out small rotations thank u
James [9:13 AM] Drop the mic, E. I wanna be a pro!!! Good stuff!!!
Posts
suggested best short oppty would be at lunch, try for 78 and trailers for 74 retest. Still using 92/ 97 as aggressive resistance, range day expected.
We wanted to see the 88.75 SOC retest, and aggressive shorts using 92 resistance. Longs we wanted paid for sure by 87.5 ow.ly/sHs330ngsY0 58 stop for longs a winner #EMWS
6:18 E 68 may become pivotal 6:28 E try hitting a bounce today cant go crazy 6:49 E magnet is 2568 using that for bias 8:05 E range for now should be 75 resistance 8:10 E convenient traders playing for 75 move stops up 9:02 E if took 75 resistance trade for 68 magnet get paid
11:24 PM E but 58/ 62.5 is normal support now ow.ly/l1DD30ng64t #EMWS
2:23 E 98.25 is potential target , using the 95/98 must be paid 2:34 E shorts must push this under 85 or get screwed into the close 98.25 is today’s t3 3:12 E 85 i said was problem for shorts if cant get under and stay under #EMWS