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Trading: ES+MES+TechStocks as of 2022 Previous: ES GC CL [4MES2ES as of 2019MAY] and [4MGC2GC as of 2021JAN]
Posts: 454 since Jul 2014
Thanks Given: 281
Thanks Received: 389
Thought you survived Wednesday FOMC Day, and Thursday T+3, huh?
I have a hard time sleeping last night because I didn't know what or how to say... to cheer you up. I kept thinking when was the last time I got run-over?
Don't get me wrong... I have done the exact same thing so many times that I lost count and I didn't even remember how I was feeling each time.
So write yours down, ok? I am sure that one day soon... you would laugh thinking about it.
However, I remember exactly when was the first time I've avoid being run-over; it was Lunar New Year of 2016 with over 68 points drop!
I was so thankful that I've already started to learn Harmonic Patterns and purchased lifetime license OFA-Auction Dashboard. Now, I cannot trade ES effectively without using OFA.
As of 6amEST this morning, the monthly ATR for ES is 75 points, CL is little bit over 5 points, and GC is 67 points. Pretty good for slow summer volume trading and if you manage to keep your swing intact. I think yesterday was just "Window BREAKING" T+3 Day that Mutual Fund Managers usually do to take profits and re-balance their portfolio at the end of month. Therefore, it could be "Window DRESSING" for EOM-End of month and FDOM-First day of month this coming Monday and Tuesday when more money being put to work... especially now that Gold rolled to new December contracts today--Let's "dump" Gold in order to "pump" ES again, shall we?
FYI, 4pm EST MOC ES @2469 10.1K Bid ==>Smelling Trending Day Bulls attack?
I have been busy since Wednesday FOMC Meeting, Oil Inventory Report and Thursday T+3... The good news is I managed to avoid being run-over... The bad news is I traded 11+ contracts that were going nowhere slowly for more than 5 hours in overnight session.
Let me have a good sleep tonight and I will show you how I did it after finishing my weekend review.
TraderTS
Find the missing piece of the puzzle... Let's be amazing, be awesome in trading today!
iTS
Trading: ES+MES+TechStocks as of 2022 Previous: ES GC CL [4MES2ES as of 2019MAY] and [4MGC2GC as of 2021JAN]
Posts: 454 since Jul 2014
Thanks Given: 281
Thanks Received: 389
FYI
I have a "hang-over" on Sunday and was unable to do much Monday.
How to avoid being run-over on ES 7/27/2017?
Clue #1 Target 2483 not hit for 4 days, plus Price is moving up since holding 2472 but on lower volume before and after FOMC Day.
Clue #2 Failed Break-out, 9:30amEST NYSE Open 1Tick above YHigh, plus OFA Footprint @2477.75 14.1K but price is not moving up... hmmm!
Clue #3 TTT-Taylor Trading Technique hinted CD3 "Sell Short Day" Thursday creating "panic selling" setting up for CD1 "Buy Day" on Friday.
Clue #4 Today is T+3 Day for Mutual Fund Managers to take profits and rebalance their portfolio.
Clue #5 3M Chart setting up buCypher ptC T127% 2479.50 that traded in European session, retested and traded T141% 2480.50 at NYSE Open, then retested again and again after 10:30amEST.
Clue #6 Market Profile hinted potential retest 2461-59 GapUp from July 19th.
Clue #7 Got exhausted trying to hold up 2475 OpEx Mean Line to go higher?
Take action by Go4 Initial Short at buCypher ptC and below 2480 NYSE Open THEN place SELL Stop Order below 2477-2475 for potential break down of beABC ptC which is also POC.
Find the missing piece of the puzzle... Let's be amazing, be awesome in trading today!
iTS
Trading: ES+MES+TechStocks as of 2022 Previous: ES GC CL [4MES2ES as of 2019MAY] and [4MGC2GC as of 2021JAN]
Posts: 454 since Jul 2014
Thanks Given: 281
Thanks Received: 389
FYI,
ES traded 2nd extLong2459 [Fibonacci pull from 2437-2476 with T2485-2492-2502] on Thursday T+3 Day Window BREAKING.
go4 1C RunnerL2462 @38.2% of extLong [Keep until Target(s) hit]
go4 2C SwingL2463 @beABC [Keep until EOM-Monday or FDOM-Tuesday]
go4 11C IntradayL2464 @beABC retested 7/27 @9.36pmEST. Going no where slowly over 5 hours in overnight*. However, I want to scalp until retest of 2468 near PVT to bail out those OFA Footprint 5.9K Bid who got stuck from Thursday. At the end, 1C left for PVT and Gap play that hit 2471 by 4pmEST closing.
_________________________
* I fell asleep for 4 hours while the Algos' Robot was holding 12T Range Consolidation.
Trading: ES+MES+TechStocks as of 2022 Previous: ES GC CL [4MES2ES as of 2019MAY] and [4MGC2GC as of 2021JAN]
Posts: 454 since Jul 2014
Thanks Given: 281
Thanks Received: 389
FYI
While you are asleep... another Cypher pattern is developed!
First-thing-first, you have to go back and review chart with what I wrote from "1Shot2Kill.Journal#4 and #13 Cypher pattern of the week"... Otherwise, you may not understand what I am trying to explain: "what the heck is going with Gold".
Clue#1 cAUG T1279 hit in cDEC Should be taking profit even though can trade until end of August.
Clue#2 cDEC Potential buCypher ptC T127-141% 1278-81 traded and retested before 1:30pmEST Closing
Clue#3 DoR+3 TUE 8/01 newHigh but SellVolume increased
Clue#4 DoR+4 TUE 6pmEST reOpen "Pop 2Short" retested #ptC 1278
Clue#5 Asia session holding Short
Clue#6 European session is a coin-flip after retested YLow
If you are not in this train for buCypher ptD T1257... then you can fight scalping Long & Short until one side gives up.
Me? I am holding a SwingS1279, plus a SwingL1272, an add Sim101 S1274. In between is just scalping for dinner money.
Trading: ES+MES+TechStocks as of 2022 Previous: ES GC CL [4MES2ES as of 2019MAY] and [4MGC2GC as of 2021JAN]
Posts: 454 since Jul 2014
Thanks Given: 281
Thanks Received: 389
FYI
While you are having dinner...
Gold DROP within minutes!
I left notes on charts, see if you can figure out what to do and take action to protect Swing Short.
Going to bed now, will wake up for breakfast and write analysis at midnight.
P.S.
Woke up at midnight, ate breakfast... but Gold is still asleep and not moving much so I am going back to bed.
Woke up for European session... but Gold is still in consolidation at low. Oil is retested yesterday hwbL49.10 and attempted B/O so took trade and go4 GapPlay. Ninja Trader 7 warned of "low memory" and needed to shut down again... going back to bed and left trades alone.
Trading: ES+MES+TechStocks as of 2022 Previous: ES GC CL [4MES2ES as of 2019MAY] and [4MGC2GC as of 2021JAN]
Posts: 454 since Jul 2014
Thanks Given: 281
Thanks Received: 389
FYI
Analysis from Chart-Journal #20
Clue #1 SwingS1279 not breaking above ptC T141% 1281 therefore, buCypher ptD T1257 is still valid.
Clue #2 DoR+4 Double Top, Buy Volume increased but Price NOT moving up; therefore can add to Short or get on the train if not in it previously.
Voila, the 3M DROP at 7.01pmEST! Not sure why? Asia not open until 8pmEST... Ah, must be Tokyo Open then--aggressive Bears!
Clue #3 cDEC buCypher ptD T1257 hit in cAUG which was B/O level on 7/26 FOMC Day after 3pmEST Bond Market Closed (see Journal #13) so think REVERSAL!
Clue #4 The 3M DROP stopped at Monthly PVT and Prior Week 38.2% haft-way-back Long.
Here is what I did last night to protect Swing Short...
1. Hedge 4C L1268.10 @9:13pmEST; then Took 2C off near 1270 before going back to bed.
2. Added 2C L1266.90 @3:30amEST go4 PVT & GapPlay
3. Trail Stop 1C L1266.90 below Prior Week High 1271.50 and 2ndC go4 GapPlay T1278.30
4. Leave 2C L1268.10 as Hedge to protect Swing Short 4potential B/O to newHigh.
Gold broke out before premarket after retesting 1266 low. Resistance 1274 after 8:20amEST Open is holding it down...
Now it's up to NYSE 9:30amEST Open to POP or DROP. My guess is to POP but they like to retest ptB/O level at hwbL1269 from 7:20amEST this morning; else PM High 1271.5 is aggressive Bulls attack!
Trading: ES+MES+TechStocks as of 2022 Previous: ES GC CL [4MES2ES as of 2019MAY] and [4MGC2GC as of 2021JAN]
Posts: 454 since Jul 2014
Thanks Given: 281
Thanks Received: 389
FYI
Nothing much going on in Overnight! Awaiting 8:30amEST Monthly Non-Farm Payroll report--could be "Wild-Swing" for ES and GC.
However, if ES is being push-up for Weekly OpEx 2385>2450>2510 then GC is likely being push-down which is not happened yet.
Here is what I should have done better for Gold GC yesterday...
1. Use 5M vs 3M chart because it's much better and easier to view overall picture.
2. Marked potential T1264 but didn't place limit order there.
3. Too determine waiting 4GapPlay to fill when I could have paid more attention to OIL CL and not missed a perfect buCypher pattern.
Trading: ES+MES+TechStocks as of 2022 Previous: ES GC CL [4MES2ES as of 2019MAY] and [4MGC2GC as of 2021JAN]
Posts: 454 since Jul 2014
Thanks Given: 281
Thanks Received: 389
FYI
Here is what I missed while day-dreaming with Gold...
Oil CL 3M buCypher ptC T127% 49.95 traded and retested two times for more than two hours... I am having to chase it by placing Sell Limit order.
In overnight, it already hit ptD T78.6% 48.94 and failed to hold up; therefore, it has potential becoming McDREAMY Pattern by retesting low or going for T-61.8% 47.94 as new low.
Don't forget cOCTOBER Contracts Rollover is under way.
BTW, if you don't know "what the heck is McDREAMY Pattern?" then go back and read Journal#2. Enjoy!
Trading: ES+MES+TechStocks as of 2022 Previous: ES GC CL [4MES2ES as of 2019MAY] and [4MGC2GC as of 2021JAN]
Posts: 454 since Jul 2014
Thanks Given: 281
Thanks Received: 389
It's TGIF!
Almost four days, but GC buCypher S1279 not hitting target ptD 1257; so taking profit here at 1261 which is PW 50% and previous B/O point.
GC cDEC Contracts Rollover is considered done even though cAUG still can be traded toward end of August.
CL buCypher S49.65 hit ptD T48.92 but failed to B/D further; so taking profit at 48.78 as well.
Sunday is Lunar Eclipse Full Moon... Friday or Monday could be the Low or the High; therefore, not a bad idea to go Long in QM or YG... just in case can't get back in at today LOW next week.
Will watch ES this afternoon if there will be a new high by 4pmEST for Friday OpEx.