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Professionals Arriving... Rally Coming in the Emini?

3/29/2019

2 Comments

 
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Greetings Traders!
A quick note on something I'm seeing in the charts and that is on the daily chart I see an unusual presence of professional here at the top.  Usually I'd see this type of pattern at the tops and start looking for a reversal, but hold on a minute.  This is slightly different in  that the pattern (Pros bunched up here in circle) is somewhat sideways rather than on a nice exhaustion spike.  This tells me we have an "argument" here and if I were a betting man I'd say we have a break to newer highs before we hit fresh lows!  Now, as you know I don't predict per se, but this sure looks dandy.  Looking back in history I really don't see this happen on this timeframe often, well, nearly ever, so I'm out on a limb here but it's all a game of odds, right?  So my analysis says bigger picture up.  Will I take some shorts on shorter time frames?  Hell yes,  I'll take em' both ways...

Let me know if see a different picture, interested to hear your analysis and reasoning...
Good Trades!
Trader Joe  
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2 Comments
Hector
4/8/2019 12:28:02 am

Hi great analysis. Daily chart continues to be bullish making higher highs and higher lows, while there is a negative divergence of the bid/ask oscillator and price on my chart is almost 3 ATRs from the mean, a level that has pushed price down consistently before.
My weekly chart just printed resistance and also has a negative divergence with the bid/ask oscillator. Do you see a probable short coming?

Reply
Trader Joe
4/9/2019 10:02:41 pm

Thanks for your thoughts! Problem I always seem to run into is that trends always last longer than I think. I have no doubt that there will be a pullback, maybe it will even be tradable but until the trend actually reverses I plan on keeping the shorts on a short leash and stretching the longs for now...
Good Trades!
Joe

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