Wow what a volatile week! Up, then down, then up... you get the picture. Still not buying into this recent reversal and downtrend. Call me stubborn, just doesn't look right. Had a great day after trying to put into practice an indicator that I'm working on to remove a bit of the discretionary part of trading and try to enhance the systematic part. Big task, but step by step, getting there. Not ready for prime time yet, still "spaghetti code" (coders will get this) but a good start. Identifies the long term and short term trend direction mechanically and highlights possible entries in the direction of that trend. Pretty slick if I do say so myself.
Once again the S/R levels pulled their weight and showed us the way. Big rally followed by a drop and a partial rally back up. If I had to guess I'd say we'll see a gap open on Monday and start our push with a big move... We'll see. Anyway, hope this video is useful to you...
Trade what you see, not what you think!
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"Trader Joe" trades the Emini S&P exclusively and is the main influence behind EminEdge.com.
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