Long with a stop, but a bit nervous as it needs to clear that high strongly soon. Took a hundred twenty five loss on that one. Still up, but production costs are rising.

thinkorswim Sharing

really struggling up, blue line I believe will be the turning point. It should also be more impulsive.


thinkorswim Sharing

here is the new platform and the market just keeps going up. This one does not show the entry but the sell reversal stop is there. Sometimes in this kind of triangle the market explodes out the top.

I am playing with this new platform so the orders are not accurate. A trick I use often is draw a yellow line as I did below and clone, duplicate it and put it on top. This works in all abc patterns. It is a place to watch out to contain the market. It did blow out the upper line for sure.

Got up late and so here is my entry. Watch that line to contain it and may require a change of short to long.

Figure a good place to enter. We have a fourth wave today and a failed fifth wave and if that is right it should drop but if wrong lots of upside to gain on.

Well, I believe I got the new platform in the design I want. I like a long term chart and a short term chart. Of course like Friday, you might become a scalper. This long term chart has a wave A down and with wave C truncated or failure. The next large C will most likely fail and send market much higher. Short term trading the last high around 2864 is the goal and then a pull back, before going higher. Will post another chart of what I think is coming for day traders.

Day trading, lots of congestion or resistance ahead. Fractals or a point with two or more bars lower on each side. Traders seem to aim for them. Seeing the brown line almost flat coming across and the upward line that the market contented with on Friday. If the market it can hold here by making a flat abc pattern then to 2866. If notthere should be a deep correction to lower line. That is my thoughts. Will trade with that in mind.

For day trading. It appears the channel may be changing to a bit more up. Lower white line needs to hold and upper brown line be broken to confirm the new channel. Till then the brown channel is good. I am a buyer on dips and break out to higher. As always I keep close stops. Often they start at two to two and half points, but quickly moved to break even. If it is going to retrace, save the money and enter lower, if channel is still good.

The market went right to the upper white line. Down and slightly sideways to gain support. See in the morning.