Correct as I did not predetermine a direction, but once it broke
the range it was a trend - I cannot do anymore than give you the
key levels. I clearly stated in my comments this was an
inflection point with those levels. Lastly, my comments had
nothing to do with any system - just key orderflow
levels.
If you want someone to tell you exactly what is going to
transpire everyday then best wishes.
Steve, no one expects you to pick market direction. We all know
that there are three possible scenarios, on a daily basis, up,
down, or sideways, with probabilities associated with each of those
scenarios. Your comments in the Thursday newsletter were spot on.
For the newer members, they may need some handholding, where you
chime in mid morning that it is a trend day, where pullbacks can be
bought, for instance, that beautiful bull flag pull back to 4130.
Don’t be mistaken: we appreciate you :)
Spot on te22! agree with this valuable piece where it is a
trend day and where pullbacks can be bought, ex. beautiful
bull flag pull back to es 4130 , example. Yes, the masters'
opinions are most appreciated by members , before the occurence,
especially
imelhoe - the time to buy is near demand - I personally have no
interest in chasing a large move late session. However, if
you like to scalp short term then follow your plan. I listed
the demand zone for the SPX last weekend near 4050 (please take
time to review last weekend comments) QQQ demand zone listed
in newsletter was 312-315 (reached 315 then bounced)
Steve, much appreciated with those levels on SPX ; is there any
way you can correlate the levels to the ES as well cos i follow the
ES more but trade spy options,; i also pay very close attention to
your ES upside and downside levels that you have listed above.
When I get better, i would like to trade SPX options, but
they are much more expensive. Thanks for all you do to help
us.
No as SPY options have other factors that impact their
performance and even if you are correct in direction can lose
money. If you are trading such options you need to formulate
a plan that make sense for you. My advice is to take time and
prepare a gameplan each night based upon YOUR methodology.
You can incorporate key levels into that plan if you find
them useful.
Thanks for the clarification - the market swung BOTH directions
last week in accordance with the predominant broadening wedge
pattern discussed last weekend. You could have actually made
more points to the downside than the upside.
I did listen to the newsletter.
maybe i should rephrase.
And I am not blaming anyone to make it clear.
Did you guys feel the market May rally on Friday before
Thursday market close ? If so then it may have given us a better
entry point at lower prices.
I was already long. Though I did have my doubts if we
would gap up or not. I remember some members asking about the
diamond pattern chart interpretation and they didn’t get any
response. However, I felt the market survived the fed meeting
volatility pretty well and hence took a long position. And
the QQQ chart 2 hour chart also supported a push up. But AAPL
earnings were def a wild card. Hence I had my doubts. Which is why
I asked this question if you guys held back on posting potential
long trade before close for any specific reason as opposed to the
heads-up you had given for the 100 point sell off the week
before.
No, but move directionally on a range break above 4100 or
below 4060 on ES. Go examine the 30 minute doji candles on ES
showing the indecisiveness pre market. Arun you may have
overlooked the SPX demand zone around 4050 listed in last
weekend newsletter where one can look for objective long entries.
I don't have a crystal ball but will provide the levels to
note as well as the predominant pattern that I see - please review
closely the broadening pattern vs a small time frame diamond
pattern. To be clear, I did not go long prior to the range
break as that would have been just a guess for me prior to the
range break.
No, but move directionly on a range break above 4100 or
below 4060 on ES. Go examine the 30 minute doji candles on ES
showing the indecisiveness pre market. Arun you may have
overlooked rge SPX demand zone in last weekend newsletter where one
can look for objective long entries. Level to level trading for me
as per my plan.
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Correct as I did not
Volatility systems
Posted by steve on 7th of May 2023 at 08:43 pm
Correct as I did not predetermine a direction, but once it broke the range it was a trend - I cannot do anymore than give you the key levels. I clearly stated in my comments this was an inflection point with those levels. Lastly, my comments had nothing to do with any system - just key orderflow levels.
If you want someone to tell you exactly what is going to transpire everyday then best wishes.
Steve, no one expects you
Posted by te22 on 7th of May 2023 at 08:52 pm
Steve, no one expects you to pick market direction. We all know that there are three possible scenarios, on a daily basis, up, down, or sideways, with probabilities associated with each of those scenarios. Your comments in the Thursday newsletter were spot on. For the newer members, they may need some handholding, where you chime in mid morning that it is a trend day, where pullbacks can be bought, for instance, that beautiful bull flag pull back to 4130. Don’t be mistaken: we appreciate you :)
Spot on te22! agree with
Posted by imelhoe on 7th of May 2023 at 10:30 pm
Spot on te22! agree with this valuable piece where it is a trend day and where pullbacks can be bought, ex. beautiful bull flag pull back to es 4130 , example. Yes, the masters' opinions are most appreciated by members , before the occurence, especially
.:)
imelhoe - the time to
Posted by steve on 7th of May 2023 at 10:31 pm
imelhoe - the time to buy is near demand - I personally have no interest in chasing a large move late session. However, if you like to scalp short term then follow your plan. I listed the demand zone for the SPX last weekend near 4050 (please take time to review last weekend comments) QQQ demand zone listed in newsletter was 312-315 (reached 315 then bounced)
Steve, much appreciated with those
Posted by imelhoe on 7th of May 2023 at 10:37 pm
Steve, much appreciated with those levels on SPX ; is there any way you can correlate the levels to the ES as well cos i follow the ES more but trade spy options,; i also pay very close attention to your ES upside and downside levels that you have listed above. When I get better, i would like to trade SPX options, but they are much more expensive. Thanks for all you do to help us.
No as SPY options have
Posted by steve on 7th of May 2023 at 10:41 pm
No as SPY options have other factors that impact their performance and even if you are correct in direction can lose money. If you are trading such options you need to formulate a plan that make sense for you. My advice is to take time and prepare a gameplan each night based upon YOUR methodology. You can incorporate key levels into that plan if you find them useful.
Thanks for the clarification -
Posted by steve on 7th of May 2023 at 08:55 pm
Thanks for the clarification - the market swung BOTH directions last week in accordance with the predominant broadening wedge pattern discussed last weekend. You could have actually made more points to the downside than the upside.
I did listen to the
Posted by arun on 7th of May 2023 at 09:19 pm
I did listen to the newsletter.
maybe i should rephrase.
And I am not blaming anyone to make it clear.
Did you guys feel the market May rally on Friday before Thursday market close ? If so then it may have given us a better entry point at lower prices.
I was already long. Though I did have my doubts if we would gap up or not. I remember some members asking about the diamond pattern chart interpretation and they didn’t get any response. However, I felt the market survived the fed meeting volatility pretty well and hence took a long position. And the QQQ chart 2 hour chart also supported a push up. But AAPL earnings were def a wild card. Hence I had my doubts. Which is why I asked this question if you guys held back on posting potential long trade before close for any specific reason as opposed to the heads-up you had given for the 100 point sell off the week before.
No, but move directionally on
Posted by steve on 7th of May 2023 at 10:15 pm
No, but move directionally on a range break above 4100 or below 4060 on ES. Go examine the 30 minute doji candles on ES showing the indecisiveness pre market. Arun you may have overlooked the SPX demand zone around 4050 listed in last weekend newsletter where one can look for objective long entries. I don't have a crystal ball but will provide the levels to note as well as the predominant pattern that I see - please review closely the broadening pattern vs a small time frame diamond pattern. To be clear, I did not go long prior to the range break as that would have been just a guess for me prior to the range break.
No, but move directionly on
Posted by steve on 7th of May 2023 at 10:09 pm
No, but move directionly on a range break above 4100 or below 4060 on ES. Go examine the 30 minute doji candles on ES showing the indecisiveness pre market. Arun you may have overlooked rge SPX demand zone in last weekend newsletter where one can look for objective long entries. Level to level trading for me as per my plan.