The aggressive buy at the RTH Open left many traders chasing this turkey or sidelined.
Moving averages combined with our prop algos gave us a chase trade for 2600.25 and getting a piece of the Turkey better than settling for a drum stick.
Happy Thanksgiving to all from the team at Eminiwizard and Marketwizardz.
Hope you’re not vegetarian.
Sigh.
Slack
great commentary and insight guys
—– Today November 21st, 2017 —–
eminiwizard [7:12 AM] https://content.screencast.com/users/EMWS/folders/Jing/media/319e593b-742b-405b-95cc-ae0b56057860/2017-11-21_0701.png (94 kB)
5 globex
[7:12] https://content.screencast.com/users/EMWS/folders/Jing/media/693dc6da-d955-4ad7-bb66-0bd5b28ebffe/2017-11-21_0703.png (37 kB)
[7:13] i put iin last night’s post next assault on 2600
[7:13] i think they are trying to print 2600 by the end of the week
[7:14] i am willing to miss some shorts unless it looks compelling[7:14] it doesnt
Zeek Snodgrass [7:14 AM] I was a little more conservative thinking we would break above 2594.5 tomorrow
[7:14] we may reach 2600 today
eminiwizard [7:15 AM] xx support for 92/95
Zeek Snodgrass
[7:15 AM] this is traditionally an up week
eminiwizard [7:15 AM] then xxx
[7:15] yes
Zeek Snodgrass
[7:15 AM] an it amplified by bot programs buying without an limit
[7:15] the raised GDP estimates last night
eminiwizard
[7:15 AM] your post yesterday made me really think about the rhythm
[7:16] u said beginning of up week
Zeek Snodgrass [7:16 AM] less regulation always helps profits.
eminiwizard [7:16 AM] and that helped me not fight the bounce
[7:16] nasty day if we get small choppy counter rotation[
7:17] i think right now use xx
Zeek Snodgrass [7:17 AM] repeal of punitive regulation makes profits soar and people more optimistic.
eminiwizard
[7:17 AM] agreed
[7:17] use xx
Zeek Snodgrass
[7:17 AM] Supermarkets may have trouble keeping the shelves stocked as the hoards are hungry this year
eminiwizard [7:17 AM] and xx
Zeek Snodgrass [7:18 AM] 91-91.25 is last upside gap to fill
eminiwizard [7:18 AM] lol always hungry here
[7:18] yes that’s why xxx
[7:18] 85 is 3rd time thru
Zeek Snodgrass
[7:19 AM] bb at 8am
eminiwizard
[7:21 AM] https://content.screencast.com/users/EMWS/folders/Jing/media/c930a5a2-7e37-48ec-xxx17-11-21_0720.png (46 kB)
xxx
[7:21] yes java time
7:25] symmetry already in weekly; overnight low now the middle
[7:25] xxx
[7:27] falling asleep last night i calculated xx to 2600
7:27] looking atxxxxxx
[7:28] xxx 2600.25 target
[7:28] i think small profit taking by 91/92 is in order
[7:29] get more than 5 points it will be good fortune
Zeek Snodgrass [8:11 AM] back
[8:13] off to the races today
[8:15] I think we test 94.5 and then get a double top pullback before we make new highs
[8:16] I think we have same situation as yesterday. Holiday trading with an up bias this week
[8:16] end of month is next Thursday
[8:18] using 85.75 as breakout point and yesterday’s 84 high as agg support
[8:19] 2-10 treasury spread down to 60 basis points 2-30 spread is 101 basis points. Getting tough to make profits loaning money
[8:20] first xx target is 98, second is xx
[8:21] daily targets are xxx [8:22] 2580.5 is globex angel 2590.5 is globex demon
eminiwizard [8:39 AM] not much to add to that great review
[8:40] thank u zeek
[8:41] they make RTH chase then pb
[8:42] or make chase and no pb
[8:42] using 87.5 agg support for 92+
Zeek Snodgrass [8:47 AM] watch what happens xxx, profit taking or continuation
eminiwizard
[8:50 AM] https://content.screencast.com/users/EMWS/folders/Jxxxc-4fab-99f1-76ba702c17c1/2017-11-21_0849.png (47 kB)
[8:51] xxxx
[8:51] 2600.25 xx
[8:51] heavy lifting already done
eminiwizard
[9:11 AM] https://zoom.us/j/778376227 zoom zoom
in last night’s post : Boyz next assault on 2600 ow.ly/W8nr30gIACc DT4$3 ow.ly/96sf30gIAF1 stops up if played 78 support.
Tough Open. DT4$3 paid by 92 if long; scalp short or stand aside
aggressive support 87.5 and realign with longs for new high was plan at the open. jam out of the gate disrupted that idea DT4$3
Advised DT4$3 longs paid / stops up by 98/99 Alfred E Neuman trade: What me worry? 98.75 is T1
7:13] i think they are trying to print 2600 by the end of the week. I am willing to miss some shorts unless it looks compelling 7:14 it doesn’t DT4$3 7:28 2600.25 target 7:28 i think small profit taking by 91/92 is in order 7:29 get more than 5 points it will be good fortune
today’s challenge was thinking like a bot then chase trade if didn’t play overnight or missed IB entry. Patience is next step with reasonable stop loss and expectations as market consolidates DT4$3 “Don’t make trapped shorts problem our problem”
E: 02:00 PM target achieved 2600.25 Boyz will be Boyz. “Be a lover of the market, not a fighter” -Ernie Roseman
Thank you
@jotuk6771 @jomama_trades @pipsnticks @Intuitive_power @shemesht @WatermanLXXIII @clayidus @Cubby_Blu @abydnave @isvibilsky thanks to all and let’s count our many blessings
zOOm
09:11:25 From Dennis Parmelee : good morming
09:11:36 From Dennis Parmelee : Turkey’s are flying
09:13:17 From Dennis Parmelee : using 98 stop if shorting double top
09:13:33 From Dennis Parmelee : using xxx for risk and reward
09:13:56 From Dennis Parmelee : xx
09:14:13 From Dennis Parmelee : and xx target hit
09:14:33 From Dennis Parmelee : trick today is dont be stubborn
09:27:52 From Zeek Snodgrass : going to be close to 60 today, no problem sitting on hands
09:31:27 From Zeek Snodgrass : 2586.25 half gap
09:33:10 From Zeek Snodgrass : home work for the holiday is to watch the first Terminator movie
09:33:32 From Zeek Snodgrass : existing home sales at 10am
09:35:14 From Zeek Snodgrass : thinking ahead to tomorrow, we may see a morning pb due to the differential being up the last 2 days
09:40:33 From Zeek Snodgrass : tried to buy a coupleof points back from the open
09:40:37 From Zeek Snodgrass : so SOH for now
09:44:20 From Zeek Snodgrass : RDD up
09:44:33 From Zeek Snodgrass : short trade may not come until after 11am
09:45:06 From Dennis Parmelee : i felt the first rotation was squeeze
09:45:24 From Dennis Parmelee : but didnt like the aggressive buy near 89
09:45:43 From Dennis Parmelee : thought would get better odds at 87.5 / 88
09:46:14 From Zeek Snodgrass : 91.75 rth angel
09:46:20 From Zeek Snodgrass : makes xx
09:46:37 From Dennis Parmelee : xxx
09:46:45 From Dennis Parmelee : goal is accumulate some profits
09:46:49 From Zeek Snodgrass : don’t be a hero?
09:47:20 From Dennis Parmelee : 98.75 is t1
09:47:34 From Dennis Parmelee : using xx
09:48:16 From Dennis Parmelee : paid by 99 or 10 am
09:48:22 From Dennis Parmelee : whichever comes first
09:48:33 From Dennis Parmelee : if long
09:48:54 From Dennis Parmelee : shorts try one rr two times max above 94.5/95.5
09:52:31 From Zeek Snodgrass : 97.25 is xx
09:57:24 From Zeek Snodgrass : you had to see the crowds shopping Sunday morning
09:57:38 From Zeek Snodgrass : this could be a record holiday sales year
09:57:56 From Zeek Snodgrass : notice how the cream of crop retailers are moving a lot higher
10:01:45 From Zeek Snodgrass : figure the aggressive shorts are entering here, we may squeeze more before we get a real pb
10:02:04 From Zeek Snodgrass : it is difficult to sy how high we go today
10:02:18 From Zeek Snodgrass : Bulls completely in control
10:03:10 From Dennis Parmelee : agree
10:04:51 From Zeek Snodgrass : volume starting to decrease
10:05:18 From Zeek Snodgrass : oil just jumped higher
10:05:26 From Zeek Snodgrass : it is bullish for ES
10:05:44 From Zeek Snodgrass : bbi 10
10:13:09 From Dennis Parmelee : squeeze shorts til eyeballs pop
10:13:22 From Dennis Parmelee : using xxx
10:13:33 From Dennis Parmelee : then xxx
10:14:27 From Dennis Parmelee : 98.75 is T1
10:14:40 From Dennis Parmelee : 2605.25 is t2
10:14:51 From Dennis Parmelee : and +30 off yest low
10:14:56 From Dennis Parmelee : 97.75
10:22:14 From Dennis Parmelee : 2600.25 is the xxx remember
10:30:25 From Zeek Snodgrass : bbl
10:30:59 From Dennis Parmelee : 02 as resistance if want to short
10:32:29 From Dennis Parmelee : xx
10:32:38 From Dennis Parmelee : xxx
10:32:54 From Dennis Parmelee : xx
10:37:03 From Dennis Parmelee : 7:28] 2600.25 target
[7:28] i think small profit taking by 91/92 is in order[7:29] get more than 5 points it will be good fortune
10:51:52 From Dennis Parmelee : may get time correction rather than price correction
10:54:04 From Dennis Parmelee : brb
10:55:10 From Dennis Parmelee : 98.75 tagged
11:06:46 From Dennis Parmelee : 92 vio;lation triggered breakout
11:22:11 From wei : can you show the chart with xxx5 trending line? thx
11:23:39 From Dennis Parmelee : yes
11:25:07 From wei : thx
11:27:16 From Dennis Parmelee : wt1 98
11:27:33 From Dennis Parmelee : xxxx
11:40:41 From Dennis Parmelee : Primary trade about done
11:40:46 From Dennis Parmelee : rabid dog day
11:40:53 From Dennis Parmelee : panama canal trade
11:40:59 From Dennis Parmelee : gap and squeeze
11:46:14 From Zeek Snodgrass : back
11:47:06 From Zeek Snodgrass : RDD
11:50:38 From Dennis Parmelee : no doubt
11:55:38 From Dennis Parmelee : so 2591 agg support now xx
11:58:29 From bc : watching paint dry up here 🙂
11:58:59 From Zeek Snodgrass : this is setup for xxx
11:59:16 From Zeek Snodgrass : boys are going toxxxx
11:59:31 From Zeek Snodgrass : this is make xxxx
11:59:54 From bc : agree – it always xxxx
12:00:13 From bc : no i am leaving – just joking
12:00:43 From Dennis Parmelee : zeek tremendous call yesterday
12:00:47 From Zeek Snodgrass : ty
12:00:58 From Zeek Snodgrass : I have seen this more than 100x
12:01:33 From Dennis Parmelee : u much older than me
12:01:42 From Zeek Snodgrass : I am record old
12:02:09 From Dennis Parmelee : xxxx
12:02:12 From Dennis Parmelee : for now
12:02:30 From Zeek Snodgrass : looking for HH by 12:30 and see xxxxx
12:02:34 From Dennis Parmelee : xxxx
12:02:38 From Dennis Parmelee : ultimately
12:02:49 From Zeek Snodgrass : volume is decreasing, so don’t expect a plunge or even a pb
12:02:52 From Dennis Parmelee : xxxxx
12:02:55 From Zeek Snodgrass : this could be wire to wire melt up
12:03:12 From Dennis Parmelee : ty
12:03:31 From Dennis Parmelee : zoom off while i reboot and have lunch
12:03:51 From Dennis Parmelee : 3 point lunch range maybe
12:03:55 From Dennis Parmelee : bbial
====================
13:20:04 From Dennis Parmelee : trapped shorts are the problem
13:20:16 From Dennis Parmelee : dont make them our problem
13:27:25 From Evan’s iPhone : slow goes it
13:30:01 From Dennis Parmelee : yes i said likely 3 point lunch range
13:30:35 From Dennis Parmelee : its been two
13:34:20 From Dennis Parmelee : market gap and squeeze has been the game
13:34:52 From Dennis Parmelee : last two days @ 10 point differentials
13:38:28 From Evan’s iPhone : no reason to fight, esp todayxxx
13:38:33 From Evan’s iPhone : sidelined
13:38:42 From Dennis Parmelee : patience tight stop is the key
13:39:01 From Dennis Parmelee : if add in above 95
13:39:15 From Dennis Parmelee : we said each trade must stand on its own
13:39:28 From Dennis Parmelee : because 94.5+ is breakout
13:43:21 From Dennis Parmelee : 10 min chart
13:43:32 From Dennis Parmelee : rabid dog day
13:54:49 From Dennis Parmelee : target achieved 2600.25
13:58:20 From Dennis Parmelee : xx all terrific today
13:59:07 From Dennis Parmelee : globex charts
14:00:18 From Dennis Parmelee : picture perfect
14:00:42 From Evan’s iPhone : wow
14:01:01 From Evan’s iPhone : 2600.25 Bingo
14:03:38 From Dennis Parmelee : bingo mania
14:18:10 From Dennis Parmelee : longs need to protect profits
14:18:20 From Dennis Parmelee : not worried about plunge
14:18:58 From Dennis Parmelee : stop 94.5 for longs
14:19:26 From Dennis Parmelee : if cover and want re entry
14:19:40 From Dennis Parmelee : think xxxxx
14:20:30 From Dennis Parmelee : xxxx
14:21:08 From Dennis Parmelee : typo
14:21:25 From Dennis Parmelee : xxxxx
14:21:42 From Dennis Parmelee : xxx
14:21:57 From Dennis Parmelee : and squeeze pivot
14:22:02 From Dennis Parmelee : key
14:22:10 From Dennis Parmelee : is xxx
14:24:04 From Dennis Parmelee : only traders with profits
14:24:19 From Dennis Parmelee : or not reached stop loss limit
14:24:28 From Dennis Parmelee : have right to try a contra
14:24:53 From Dennis Parmelee : not worth the effort until xxxxx
14:24:58 From Dennis Parmelee : OR
14:25:05 From Dennis Parmelee : all targets achieved
14:25:27 From Dennis Parmelee :xxx not hit
14:25:39 From Dennis Parmelee : wt1 98 hit
14:25:46 From Dennis Parmelee : xxxx
14:25:59 From Dennis Parmelee : so guessing xxxx
14:31:55 From wei : why u like 30 today?
14:39:33 From Cobalt : 30 Min is a power chart
14:39:37 From Cobalt : deeper chart
14:39:42 From Dennis Parmelee : anyone want to help Wei out?
14:39:48 From Dennis Parmelee : yes!
14:39:49 From Cobalt : and has not gone below the green line
14:39:54 From Dennis Parmelee : and its working
14:40:17 From wei : yes
14:40:41 From wei : yesterday you showed 15 minutes, right?
14:42:15 From Dennis Parmelee : yes
14:42:23 From wei : thx
14:42:39 From bc : i use longer term chart for context lower tf for entries
14:44:10 From Dennis Parmelee : 60 chart
14:44:35 From Dennis Parmelee : great point
14:47:36 From Dennis Parmelee :xxxxx
14:47:47 From Dennis Parmelee : typical I was taught
14:48:04 From Dennis Parmelee : i prefer 15 and 30 for stability
14:48:18 From Dennis Parmelee : power charts
14:48:31 From Dennis Parmelee : 5 for normal rth
14:48:38 From Dennis Parmelee : and 5 globex fast
14:48:47 From Dennis Parmelee : in rdd 5 globex is a must
14:55:04 From Dennis Parmelee : shorts must undo 95 or are subject to squeeze into the close
14:55:19 From Dennis Parmelee : and 97 hasn’t broken yet
14:56:26 From Dennis Parmelee : best plan for shorts
14:56:47 From Dennis Parmelee : put mouse in the drawer
14:57:09 From Dennis Parmelee : brb
15:26:16 From wei : could this be umbrella
15:26:43 From Cobalt : yes sir
15:26:54 From Dennis Parmelee : no Wei
15:26:59 From Dennis Parmelee : above pink line
15:32:57 From Cobalt : xxx
15:33:05 From Cobalt :xxxx
15:33:10 From Cobalt : xx
15:33:37 From Cobalt : yep, your are breaking it down
15:34:06 From Cobalt : that helps
15:34:58 From Cobalt : so you are using this along the same idea as xxxxt?
15:35:06 From Cobalt : the levels
15:35:29 From Cobalt : ok, have to get by this level first
15:35:56 From Cobalt : if it is going to go there
15:37:10 From Dennis Parmelee : ok
15:37:16 From Cobalt : always anticipating
15:37:52 From Cobalt : thank you E that was helpful
15:38:07 From bc : thanks
16:13:15 From Cobalt : great education E, thank you
16:13:55 From Dennis Parmelee : thank u Tim
16:14:31 From Dennis Parmelee : EOD possible 5 to 7.5 points
16:14:39 From Dennis Parmelee : got 5
16:16:56 From bc : night
16:17:03 From Dennis Parmelee : night Barb
16:17:09 From Cobalt : gn all
16:22:31 From Dennis Parmelee : over night
16:22:47 From Dennis Parmelee : xxx
16:23:06 From Dennis Parmelee : xxx
16:23:27 From Dennis Parmelee : xxxx
16:23:36 From Dennis Parmelee : night Tim
