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Posts Tagged ‘trend day’

If you know the secret code, taking money out of the market is a lot easier.

Today’s ugly chart pattern is a thing of beauty to the market participants who know how to read it.

If you are not one of us, what is holding you back?

Day after day, week in and week out, opportunities abound.

Knowing where and when expected support and resistance lie is the whole key.

Applying that knowledge is the answer to all your financial challeges.

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Ugly is Beautiful

Ugly is Beautiful

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 Eisenheim : Everything you have seen here has been an illusion.

Nothing is what it seems.

Monday’s misdirection play was a thing of beauty; even the great Eisenheim would have been applauding.

Traders were so busy looking through their rear view mirrors at the premarket high that they forgot to look at the cliff they were driving off.

After Friday’s low broke, the bull’s had their heads held under water until they were finally let up for air late in the day. Intraday shorts scrambled to capture profits before the closing bell after kissing last week’s low.

All eyes are on that uptrendline on the daily chart.

 

Eisenheim Day

Eisenheim Day

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The lemmings were fresh squeezed today, making lemonade out of yesterday’s late day sell-off.

The end of day plunge serves four purposes:

  • The market seeks to find hidden support
  • Profit taking from the last move
  • The early longs yesterday get taken out
  • The stubborn shorts who cannot change their bias today get taken out

Successful traders view the markets as a tug of war. It’s all about joining the winning team, and the sooner the better!

Have you noticed a tendency for the market to have a strong trend day once or twice a month? When the market action acts as if it is on steroids, go with the trend or go fishing.

It’s better than being steamrolled constantly trying to guess the “top”. FOMC days usually are often catalysts for this kind of day.

The benefit of hindsight is that we can learn to see completed patterns, then reverse engineer them for future insights.

The 480 minute globex chart gave us a clue if we were attentive and believed in it’s potential.

I hope you enjoyed that tall drink today.

 

Trendline Support after Inverted Head and Shoulders

Trendline Support after Inverted Head and Shoulders

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This age old question, and it’s obvious counterpart “where am I going?”, are some of life’s mysteries.

To the astute trader, however, the rear view mirror gives us clues as to where we are going.

Previous support, when broken becomes resistance. Previous resistance, when broken, becomes support.

This tends to work in all time frames, and the market has a distinct memory in certain time frames.

This is part of the core methodology we use at eminiwizard.com to help frame the secret code of the illuminati.

35+ points were available to our traders who understood these dynamics and coasted downhill. Today’s scalp long guessers got crumbs while the trend traders sat back and let the bobsled run.

Note in today’s chart the continuation entry was the key. Then all that was necessary was to keep your hands in your pockets and away from the mouse as only small bounces were available. Take this ride all the way to today’s logical bottom.

The head and shoulders pattern that began yesterday left a lot of late longs underwater.

Once you learn these patterns, the wind is a tool for you to use.

Do you have a favorite chart you would like to share?

I leave my proprietary indicators off these charts but show the general concepts. Our students get access to all of my favorite tools.

Check out this excellent market technician for more insights.

 

head ans shoulders reversal

head ans shoulders reversal

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I have heard that the bull climbs the stairs but the bear jumps out the window.

When the bear is jumping, I want to be hanging on to his neck and going for the ride. No playing it cute, scalping here and there, just taking profits along the way and jumping off as he lands with a thud on top of the horns of the bull’s dead carcass.

I talk in gerneralities here, because I do not wish to betray the integrity and value of the Secret Code system.

If you missed most of yeserday’s move, or were second-guessing all the way down, then you will certainly benefit from the insights of this sophisticated methodology.

I was looking for a 40 to 50 point plunge if the employment report was problematic, and I got it.

In a chat room that I was posting calls this week, I believe I helped a number of traders make a lot of money.

I am not the bragging type, so you will not get a lot of hype from me.

Remember, I post here for my own benefit, not yours. It helps me capture my important thoughts, without giving you the notes that I post on my charts every evening.

I love to read other professional trader’s opinions, this trader is a great resource for me.

We all have our own opinion of course, and when it comes down to it, no one else but myself is responsible for pulling the trigger to get in, or out of a trade but me.

Any coach can help his players be better, but the player must display their talent and react accordingly on the field.

 Enjoy a well-deserved rest this weekend.

 

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