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US and Euro stocks mounting one more rally before crashing?

  • #821
  • Mar 13, 2019 10:22am Mar 13, 2019 10:22am
Monday.s impressive performance confirmed the end of the correction of the rally that started on Boxing Day. Looking at the daily, it seems like SMA200 was the target for the correction, and the starting point for next wave of buying.

On the hourly, SMA100 acted as support yesterday, and was the natural take-off level for resumed buying today. My target is the upper 50 period Bollinger band, around 25800 in cash index value.
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  • #822
  • Mar 13, 2019 10:32am Mar 13, 2019 10:32am
Quoting jakucha
{quote} OK. Day's not over but so far going as I thought on Friday. I usually do not do that but moved my BE stop lower to allow a double tap of the daily descending trendline and flip SR on H4. Gap was above so odds looked positive, even though it was painful to see a revisit to entry. Added two positions after PA confirmed reaction and probability of filing the gap. Currently holding the three for around +1000p. We're back to significant levels for sellers so let's see. There a bit of room higher for fibs/harmonic levels, 25700-25800, as pointed...
Go Dow go !
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  • #823
  • Mar 13, 2019 12:12pm Mar 13, 2019 12:12pm
Quick scalps off of flip resistance becoming support and equal legs on the way down. This could go higher but until we break the high I'm observing.

+86p
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  • #824
  • Mar 13, 2019 12:16pm Mar 13, 2019 12:16pm
Quoting jakucha
Quick scalps off of flip resistance becoming support and equal legs on the way down. This could go higher but until we break the high I'm observing. +86p {image}
Well done I'm still holding on to my long.
  • #825
  • Mar 13, 2019 12:48pm Mar 13, 2019 12:48pm
Quoting medici
{quote} Well done I'm still holding on to my long.
Kudos! Same here, got a bunch going. Almost too good to be true to be honest.
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  • #826
  • Mar 13, 2019 1:13pm Mar 13, 2019 1:13pm
M1 is noise. Yeah. Right.

SR flip after obvious drop following compressed junk and 61.8 sending it to 161.8 to break the high. A beauty.

+102p.
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  • #827
  • Mar 13, 2019 1:39pm Mar 13, 2019 1:39pm
Short on the Dow from 25744 with a 35 pip stop as I believe this retracement is now complete. Time will tell!
  • #828
  • Mar 13, 2019 1:49pm Mar 13, 2019 1:49pm
Quoting jakucha
{quote}Almost too good to be true to be honest.


Didn't have that in mind an hour ago. Damn false break, will it bounce or double top? Time will tell as you say.
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  • #829
  • Mar 13, 2019 1:57pm Mar 13, 2019 1:57pm
Quoting jakucha
{quote} Didn't have that in mind an hour ago. Damn false break, will it bounce or double top? Time will tell as you say.
Almost tempted to move the stop to b/e as the entry is now above the 76.4 fib on this drop...but not just yet.
  • #830
  • Mar 13, 2019 2:02pm Mar 13, 2019 2:02pm
Trump talkiing about China, Brexit, Boeing. Seems it can move things sometimes. Still on the other side of your trade Tomase, but for how long?
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  • #831
  • Mar 13, 2019 2:09pm Mar 13, 2019 2:09pm
Quoting jakucha
Trump talkiing about China, Brexit, Boeing. Seems it can move things sometimes. Still on the other side of your trade Tomase, but for how long?
I think Boeing is more likely to be the mover here - if anything is - but from my perspective the ABC retracement topped out at 2577 and I got in on the first shallow pullback. Let's see.
  • #832
  • Mar 13, 2019 2:19pm Mar 13, 2019 2:19pm
Quoting tomase
{quote} I think Boeing is more likely to be the mover here - if anything is - but from my perspective the ABC retracement topped out at 2577 and I got in on the first shallow pullback. Let's see.
Yeah, seemingly. I just have a few tools. SR levels, overall structure, Price Action and sometimes a trendline here and there. We will see if this will be enough for today.
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  • #833
  • Mar 13, 2019 2:30pm Mar 13, 2019 2:30pm
Quoting jakucha
{quote} Kudos! Same here, got a bunch going. Almost too good to be true to be honest.
Thank you. I had to go out so I tightened my stop, and got stopped out for 202.

I've had worse days, and it's one day at a time. See you tomorrow
  • #834
  • Mar 13, 2019 2:34pm Mar 13, 2019 2:34pm
Quoting medici
{quote} Thank you. I had to go out so I tightened my stop, and got stopped out for 202. I've had worse days, and it's one day at a time. See you tomorrow
With pleasure. I am still battling it out. Sticking to my plan, because what else do I have? Will post latest success or break even at the end of the session.
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  • #835
  • Mar 13, 2019 2:44pm Mar 13, 2019 2:44pm
Closed three longs for +288. Early entries due to FOMO. This is not good. Chickened out on exit to be honest, but I think they're going for Tomase's SL now. A strong close above the black line is meaningful. May be important on the way down.
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  • #836
  • Mar 13, 2019 2:46pm Mar 13, 2019 2:46pm
Quoting jakucha
Closed three longs for +288. Chickened out to be honest, but I think they're going for Tomase's SL now. A strong close above the black line is meaningful. {image}
  • #837
  • Mar 13, 2019 2:53pm Mar 13, 2019 2:53pm
Quoting medici
{quote}
He seems like a real nice guy I didn't want to be in an up move that would take his stop. We're friends here.
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  • #838
  • Mar 13, 2019 3:22pm Mar 13, 2019 3:22pm
Quoting jakucha
{quote} He seems like a real nice guy I didn't want to be in an up move that would take his stop. We're friends here.
Yes, very nice guy But in my book his trade was conunter-trend - SMAs 20, 50, and 100 on the hourly pointing up, so just a move down to SMA20 to pick up demand.
  • #839
  • Mar 13, 2019 3:32pm Mar 13, 2019 3:32pm
Temptation won - stopped out at b/e. Time to rethink.
  • #840
  • Mar 13, 2019 3:54pm Mar 13, 2019 3:54pm
Quoting tomase
Temptation won - stopped out at b/e. Time to rethink.
I feel you, it's difficult. When I see that a majority of retail traders are short, I question myself. I would love to short indices when Dax reaches 11900 or so, if it goes there, which worries me cause it's lagging at the moment and it might truncate. Was picturing a more furious Dax. But I could see Dax going there and other indices climbing before a nice drop, which will precede a nice climb again.

My two cents, and this is just wave 3 (this is completely subjective so it might not make sense at all). Possible take profits in black and ultimately in green on top.
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