Real Trading

Sell wti again, sl set...

Stopped again...

Nas100
Looking for a close at yesterday's open
Will leave us with two nice daily pins tweezers some call it. I believe this will be a strong selling sign that will actually turn into another fakeout.
Time will tell.

nas100 This looks short, but not to convincingly so. We cleared the trend to the top which looks to be creating our much needed decline. Either that or we have a flat wave 4 and continue north. Watching the yellow river. Moves below to follow to the 161 FE 261 area. If we stay above the 261 Fib North to 423 percent and will look to sell from there.
Again. All speculation.

This may be all the down movement we have. We had an ABC off that previous high. Tiny, and unconvincing, yet there.



If this is to satisfy the need for consolidation, then we are possibly currently in a wave 3 to the upside. This will be confirmed if we retest 16670 as we just broke out of the lower area of balance. Sing it with me....! Breakout.. Retest.. Take the trade!

The more I look at this the more I wonder if we repeat last week for the first few days... Remember? Rode the 161 overnight.. Then the 200.. then finally the 261 before we saw some drop.

Let the Christmas rally begin. We find ourselves at the high of the day off of news. As I type price crossed, and now appears to be retesting said high. The outcome of this test will determine the day for me, and could potentially signal the trend for the coming week, and possibly for the coming year. Historically if this week goes bad, the following year is a good one. However as we are expecting a recession. The coming week should look good for the indices in the US.


and it appears to be a green day...
as price is hitting targets and rejecting them.


IF we clear the trendline with the same conviction we will see more bullishness. I do not think so however and am banking on the trend line rejecting price. We shall see.







Stops at 16850 area... This is an EARLY entry as I am at work. True trader will wait for 16870 to be retested and hold before adding another long. I am martingaled in though, and want to step away.

I sincerely congratulate you!

Thank you my friend. Much appreciated. I am both happy to finally have some things figured out, and to share.

NAS100
Watching this area. I got in early on a sell. It may get blown. Closed my highest long in profit. Will see what price does here. As the day goes on it appears we did a "look above and fail" pattern. Price currently retesting the S/R. If so the yellow line here represents wave 2 to the downside. 16800 being my confirmation to the downside. the dotted line is there as another level of S/R.

This is why the BEST trades are those where you wait for the retesting of price to go a direction. Currently we have movement in both directions. Rejections off of current levels, but I am more interested in how the cluster to the left if being addressed. Convincing moves to the downside will require the 23.6 percent line be pierced to the downside, and then hold price below it. For now we are in a range.

5M Chart has turned Bearish. We have cleared two higher lows off the move up, and a candle close below the previous wick.



Switching to 15M. Second Higher Low there is the current gateway to the bottom I mentioned. 16800. If it gets blown as well will switch to 1Hr.




1Hr Higher low targets. Candles that break below these and close on the 1HR will signal bearishness.

All longs closed Holding short Will add on at lower high breaches

Wow.. I can't even post it quick enough lol

Still only one SELL going. Reason more have not been added is that there has been no retracement to the upside. I try not to add to one way trades. My reasoning is as follows. IF there is no retracement of price, then most likely the trend that I am currently looking at IS more than likely the retracement and the prevailing trend is actually the other way.

5M candle CLOSING below this level will convince me to hold second sell. Add when the 1m retraced back to 16730 area. TP'ed on it and added yet another. If I get my 5m close will continue. Otherwise will hedge my short and wait for another opportunity.



Short term target 16600.

Sometimes it is good to zoom out.
Daily chart


Notice where my 423 drawn today finds itself. If we can get below 16300, I am targeting the purple band for first week in January. Then we can continue upward
I think...

Anatomy of the trade....

Price hits the 261 as shown and is rejected with a long wick. This tells me that this is a supported price and buyers want to stay above it.
Number 1.
Price then attempts to go bullish, and that also is rejected. Rejected just above the 261 mind you. This is a RETEST of the price level that was broken by the red candle. Number 2. As well as the bullish candles that follow it. The rejection should bounce off the moving average, and any candle CLOSING above it is cause for me to abandon this theory.


Again.. looking left we find ourselves at an area of resistance currently. If blown the 161 will be my SL, and will watch the 100 level for final bullish exhaustion.
Short trerm target of 423 remains.

Bounced off the moving average...


Now I need for it to either continue, or finish it's move to the upside to form a Zig Zag ABC. 16613 is my gateway here. 5m Close under and we go lower. Otherwise short term confluence is at 16700

Alternate....

Nas100. Dropped my sells overnight when UJ looked to be going lower. Bought one round. Tp on those this morning. Bought second round on when news sent price out of balance. Tp 16800. Waiting. I think more to the downside at US open but will see.
UJ. Short from 143. SL moved to 142.6. Target 141 1

NAS100 16800 and 16700 Short. 1st target for the day
16500. adding at 16600

These have been closed. No follow through or 1m candles closing below S/R

Got out. Waiting for a spot to get back in. Watching 5m for breakout to bottom after we hit trend again. I think we will sell off like yesterday.

Not enough momentum today. Back to the start it appears. Let's try again tomorrow guys! Will they reset the chart and have us do this all again tomorrow? Will price continue to rise until it reaches 16770 area again? Stay tuned ladies and gentlemen.


"Obama say Make dat Money Mannn!"