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Reminder....the fringe area for the weekly auctions posted several days ago
/RTY 2565
/ES 6734
/NQ 24220 further out of alignment than the RTY and /ES....its easier to take the plunge if they all align at once.
Sorry...I can not post the charts with my method...I would rather encourage folks to study their own charts and find their way, thats the only way to truly understand the engine/driver of the markets. My intent is never to be a signal producer (i know you are not asking that question), that makes people lazy and irresponsible for their losses or wins. If at some point in the future there was enough interest I would entertain providing a master class, but for now I'm just an encourager.
/CL going bonkers...opened above weekly target yesterday and pulled back to the target, then hit daily target today at 7750.........I would say this, auctions are like throttles, they allow you to keep your enthusiasm in check and that's important when playing this game.
Please note that self-promotion is strictly prohibited on this site - While I am not suggesting all of your material is self-promotional, it may be the case nevertheless.
If a vendor, either stealth, or would-be, is found to be slowly content-dripping to build up interest, all of their content is removed and they are permanently banned.
Once again, I'm not implying this is your case, but this site over the years has seen many many people trying to circumvent its terms in order to make a few sales.
Idealy....when in doubt about a market bottoming, particularly in volatile uncertain conditions you want
1. Most if not all the indices aligning (spoke about this earlier)
2. You want to the the /ES recovering AND the VIX going from a green day to a red day.
It may not be THE bottom, but that's the time to start buying. I know a guy that has traded the VIX for 20 years, #2 is his golden rule and I use it as well when things get volatile and unaligned.
Nice action off /ES and /RTY auction target lows....those are just quick trades. Is it a bottom ? My logical brain says, the /NQ may still have some work to do on the downside, if so and it reaches its auction target while /ES and /RTY retesting their lows and the VIX (see above) says bottoms swing long time, well that would be a very nice end to this current volatility ! We are only 2 days into this week...3 days to go !
Here's what bears need tomorrow....they need an open below 6861 (the cash open is more or less the balancing of the market makers book) and for that to hold, that would have a daily target of 6825. The reality is as I mentioned Tuesday we made the weekly target on the /ES at 6727 that I gave. The only thing I didn't like about the general market bottom was that the /NQ did not hit its weekly target of 24220 when /ES, /YM and /RTY made their targets.
Now.....its been a traders dream week so far, lets see if we can keep the dream going !!
I'm not going to get into much detail, but back on 2/25 when I mentioned the /ES had a muti-sigma auction move....those are market tells, they almost assuredly tell you a top (or bottom if going down) is at hand. Just food for thought while you study AMT.
I've had some questions on how do I come up with ideas for what may or may not happen.
Well, its honestly a combination of many factors. I look at weekly charts, daily charts, intraday charts, lifetime charts then try and piece it together with the question......What's possible ? Not what's probable. Probable is when you become biased, possible is like a simple if then statement. If this happens, then I expect that to happen. Its nothing about predicting, its viewing the profiles and asking What's possible if we get above this level and where might it go (target)? Context is very important, if you have a double or triple distribution, then what can happen ? If you have a profile from 5 days ago that says x can be reached and the profile parameters are still valid, then that's still in the "What's possible" based on that profile.
I’m not out here trying to predict the future. I’m just reading the map. If you’re obsessing over my indicator inputs, you’re looking at the finger and missing the moon. Wiping your charts of all the indicators is a good start, looking at raw data (profiles) is paramount IMO.
OK...Not going to lie, that was an EPIC battle at 6861, it usually does not unfold like that. I've done this long enough to tell you this...it's rarely that sloppy so don't get discouraged. I've said it before, it took me nearly 5 years to perfect my AMT style and another year to start printing money.
