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The Swamp

  • #60,881
  • Apr 24, 2020 1:54am Apr 24, 2020 1:54am
Quoting DMA Trader
morning i see the same thing happening also next week they have to provide results on trials some of the states are opening, if it works we could see more upside. but if not ... well i think a big drop can come.
markets starved for yield will seize on any shred of hope & good news and equities will be supported by that. Main risk I see near-term is the oil futures contango/storage build trap. Slow uptick in demand prolly won't be enough. We should see some more damage in the funds (USO) and the weak hands in US oil companies. Knock on risk in credit markets. We aren't out of the woods and won't be for some time...
"If The Fool persists in his Folly he will become wise." - William Blake
  • #60,882
  • Apr 24, 2020 2:05am Apr 24, 2020 2:05am
In Will Add at R S2
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A good trader follows his rules, but great trader knows when to break them
  • #60,883
  • Apr 24, 2020 2:10am Apr 24, 2020 2:10am
Quoting The Fool
{quote} markets starved for yield will seize on any shred of hope & good news and equities will be supported by that. Main risk I see near-term is the oil futures contango/storage build trap. Slow uptick in demand prolly won't be enough. We should see some more damage in the funds (USO) and the weak hands in US oil companies. Knock on risk in credit markets. We aren't out of the woods and won't be for some time...
yes
i would add also that China had thousands of small businesses going bankrupt but i don't see that reported on cnbc and wallst media
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #60,884
  • Apr 24, 2020 2:13am Apr 24, 2020 2:13am
Quoting ill_be_back
In Will Add at R S2 {image}
where are you target?
  • #60,885
  • Apr 24, 2020 2:19am Apr 24, 2020 2:19am
Average month range 0727
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those who can, do. those who cant, talk about those who can
  • #60,886
  • Apr 24, 2020 2:22am Apr 24, 2020 2:22am
i got all my tf pointing bearish. macro bearish, fundies bearish

so if you want to play with fire you can but not with big position when everything is align usually crashes come.
so while i do see a lot of supports in the area we can easily break them

so going long i guess you are expecting o Friday short squeeze or just targeting 10-20 pips ... to 760 resistance
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #60,887
  • Apr 24, 2020 2:30am Apr 24, 2020 2:30am
if it bounces, I plan on shorting 0786
those who can, do. those who cant, talk about those who can
  • #60,888
  • Apr 24, 2020 2:37am Apr 24, 2020 2:37am
Quoting gatorinla
if it bounces, I plan on shorting 0786
that's the thing while it's also very risky to short right here everyone - bulls and bears and pigs expecting to go up to close, short or take loss.

so we need to be like surgeons imo.

also on both longs and shorts i used stops in the last week, i don't normally do it since i am not into leverage. but we can have 200 p imho on both direction without any change in trend.
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #60,889
  • Apr 24, 2020 2:38am Apr 24, 2020 2:38am
Quoting ill_be_back
In Will Add at R S2 {image}
In at better price OUT of 1st
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A good trader follows his rules, but great trader knows when to break them
  • #60,890
  • Apr 24, 2020 2:38am Apr 24, 2020 2:38am
Quoting gatorinla
if it bounces, I plan on shorting 0786
mine is at 760 for 1st. but i hate it's Friday i may not do anything today.
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #60,891
  • Apr 24, 2020 2:42am Apr 24, 2020 2:42am
Morning.. short some EU here 0743... will add..
  • #60,892
  • Apr 24, 2020 2:42am Apr 24, 2020 2:42am
Quoting gatenio
{quote} where are you target?
OPEN
Maybe 0837
A good trader follows his rules, but great trader knows when to break them
  • #60,893
  • Apr 24, 2020 2:43am Apr 24, 2020 2:43am
Quoting DMA Trader
{quote} mine is at 760 for 1st. but i hate it's Friday i may not do anything today.
I got one at 760 and one at 780 as well. Splitting up the lot size to two different trades.
  • #60,894
  • Apr 24, 2020 2:46am Apr 24, 2020 2:46am
Swiss datapoint atm.. it is testing day downtrens stop 0.9792.. lets see bears can hold at NY close
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  • #60,895
  • Apr 24, 2020 2:47am Apr 24, 2020 2:47am
Quoting DMA Trader
{quote} mine is at 760 for 1st. but i hate it's Friday i may not do anything today.
to eliminate risk.. sideline is best.

close the week below 0841 is bear positive to me. above 0841, is indicative of rejection. Month wise, is closing the month below that large tl. If not, it too may be a rejection bounce. Waiting for the week, then month to close may be best. It can be volatile now till, the end of this month.
those who can, do. those who cant, talk about those who can
  • #60,896
  • Apr 24, 2020 2:49am Apr 24, 2020 2:49am
EurUsd datapoint atm...bearish in all time frames...
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  • #60,897
  • Apr 24, 2020 2:49am Apr 24, 2020 2:49am
Quoting keongzai94
{quote} I got one at 760 and one at 780 as well. Splitting up the lot size to two different trades.
if 760 is broken to the upside i think we can reach close to 790/800 i would not rush fast into the second position or look to PA to go there and then go down to a smaller tf and short on a signal
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #60,898
  • Apr 24, 2020 2:56am Apr 24, 2020 2:56am
I am already short since Frankfurt. For one position SL=BE, the other is running in profit. To be honest, I am absolutely not comfortable because of price action during Asia. If this M15 candle closes bearish, price may drop further to WS2 and DS2. When both daily and weekly support are at one place, it makes support stronger. I have a buy limit @1,0705. Small stop. Targetting 25/35 pips. I will close most of my shorts there. I will leave one open with SL at BE because I still have one long in loss. So, I hedge. That's it for me today. I will see how this plan plays out.

I would have been comfortable if price at least reached DPP during Asia, it didn't. Besides, New York is full op surprises these last few days, it may bounce hard from 1,0705.
  • #60,899
  • Apr 24, 2020 3:00am Apr 24, 2020 3:00am
Quoting gatorinla
{quote} to eliminate risk.. sideline is best. close the week below 0841 is bear positive to me. above 0841, is indicative of rejection. Month wise, is closing the month below that large tl. If not, it too may be a rejection bounce. Waiting for the week, then month to close may be best. It can be volatile now till, the end of this month.

if i read correctly your past posts we both missed some action being very fixed to get the price we want.
and Boulder is way ahead.

also need to finish the earnings will catch up on weekend
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #60,900
  • Apr 24, 2020 3:01am Apr 24, 2020 3:01am
M15 Candle closed bearish. I expect further drop. Added more shorts.
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