So, instead of doing a video, I'm just going to type. I've got my kiddos home from the military/college and so my house is a bit louder for the time being. That being said, there wasn't really a lot to discuss in the short term aspect of trends anyways. We got a 30m Uptrend signal that is a lower high this morning at 5am-5:30am EST, and we've fallen lower ever...
Just a few days ago, I had said we were maxing out to the upside. I expected us to go lower, but I certainly didn't expect to max out from an uptrending position to a downtrending position in less than 72 hours. We've managed to make it past the 12hr lower low downtrend which stopped me out overnight. I saw we were right along the lower low downtrend of the Daily...
I was able to not only make up for my poor trade on Tuesday, but also capitalize and put myself into profit for the week yesterday. I ended up closing out my trade from yesterday into today this morning, although it appears I may have jumped out a bit too early as we've already pushed 10 points past where I exited. All that being said, I'm just glad I was able to...
So my trade didn't work out. I thought about it and decided I likely was being a bit greedy going into that trade and clearly was just "gambling" which I routinely warn against doing. While I likely would have made some if not all that money back, my risk management plan says if I lose a chunk of cash, I walk away for the day. Wasn't the first time, nor do I...
So theoretically we are nearly maxed at trends. We've accumulated all the trends going upward in one swoop from 30m to 6hr. The 30m to 2hr claim to be in an uptrend, the 3hr to the 6hr claim to be in a downtrend. The 12hr claims we are in an uptrend, but that we are now sitting below of the funnel for that, and the Daily proclaims that we are sitting above the...
So overall trends appear to be wanting to send us down, but not with great conviction. We are well within the 12hr funnel that was taking us higher, but have a funnel from the 6hr that looks to take us lower. The price action of the two basically has us dead smack in the middle. The significant gap between the Z and H contract is also causing some issues with...
So here we are at 3990 just as I had expected us to go, where we are hitting back on that trendline that we broke. I can't say I've ever seen the TradingView chart have this consider pump in contract like it did this morning, so bear with me as that corrects itself and I can adjust everything later on. The trends are looking like as follows; Last Macro Trend...
So while we ended lower, I still would see yesterday's price action as a technical rally. While I wasn't feeling well and decided to take the rest of the day off after I made a good trade for $1500, had I stayed in I would have continuously bought in around the mid 20's to anything lower (again my entry point is usually based on a 3200 tick chart) and then sold...
So I am long here again at 3918, and I'd like to see us at least run back up to 3990 to revisit the lower end of the funnel before we make the major move I was expecting downward. I don't expect a major move upward today, but possibly just a move back to zero, which would net me slightly below $1500. In spite of going against the flow yesterday, I sniped my...
So after just being completely spot on yesterday with calling the mispricing of Economic Data, I am sitting here looking at this market and feeling very mixed in my sentiment for today. We have a new higher low 3 hour trendline (which I drew in for today at least) and a lower low 4 hour trendline. It matches what we had the other day with the mixed 1hr/2hr...
So the downward movement I had predicted came, though not quite how I expected it. I ended up staying out all day Friday as I felt the downward movement was too aggressive to quick, even though it is where I think we should have gone, and then ultimately I felt that the rally that came after was illogical based on the economic data. Certainly I think the trends...
I'm really mixed going into today. I'm going to be a bit bullish, only because I think there is a lot of upward trend movement. However, we are maxed out on trends yet again here, so I am not sure we make it much higher, and I think this rally may be coming to a close, at least briefly. The trends for today are; Last Macro Trend Signal Spots 30m - 4060 Downtrend...
So my rally I had called for to fix trends came true, and here we are. Certainly a fantastic funnel on the 12hr trends. While we did dip briefly below the Uptrending Line of the 12hr Downtrends (I know, so confusing), we came back up and are right back, within a few hours, of the 12hr Uptrending, Uptrend Line of the 12hr. This does put us back into the same...
So I had missed the 12hr had a downtrend, which is a lower high. Once I recognized that, I've gone long once again at about 3965. There is the potential that we head lower to a Daily Downtrend signal, although... if we do, then we would have no trends to take us lower. I do find it fairly bizarre that the 30m managed to counter every lower high trend and get us...
We did run down along the 30m downtrending line yesterday without ever even creating a funnel. Definitely a bit surprised given that there wasn't anything major occurring yesterday. Clearly the FOMC speakers must have felt like giving their personal guidance to the market even though the Fed as a whole continues to lack any clear guidance as an entity. This has...
Greetings and welcome back after Thanksgiving to another edition of Trends in the market. If you don't want to watch the video, here are the trends; Last Macro Trend Signal Spots 30m - 3994 Downtrend (11/28/2022) Lower Low 1Hr - 4031 Downtrend (11/25/2022) Higher Low 2Hr - 4016 Downtrend (11/27/2022) Higher Low 3Hr - 4008 Downtrend (11/27/2022) Higher Low 4Hr -...
So, again, my daughter graduates military bootcamp Wednesday, so I'll be traveling and enjoying Thanksgiving with the family this week. This will be my only analysis this week. As I said in the video, be prepared for low volume movement this week, as a large portion of traders in the US will be stepping away from the market. As for the analysis today, the 30m...
So trends definitely proved to be spot on yesterday after forcing us to correct the excessively high movement. This does gives some indication that we could begin to head higher and hold those higher movements this time instead of failing because of a lack of trends. We have a 30m and 1hr uptrend, but that still leaves room for us to hit a 2hr/3hr/4hr uptrend...