[22:03] <CM> a look at this week: YM 12250-11901 nq 2412-2355 es 1281.5-1272 (typo actual 1252) tf 775-736
We had reasons to believe a sell off would hit, and it did. Then MF Global locks everyone out, and seeks protection under bankruptcy law. Normally. put you order where you see the trade, profit and stops in place, watch the chart for confirmation or to adjust the order. Price hits on the chart and your happy; wait no order ! What??????????. Happy Halloween, goblins strike early. A great day turns into watch from the side.
Disclaimer, any and all trade references this evening are hypothetical as real trades were restricted.
We had two bear channels today. one from the pre-open and one for Rth traders from B1. PA eventually BO late in the day only to fail at the middle BOT and reversed back into the channels.
The day was used to practice the buy-sell signals. The market bias was bearish since we could not break the middle BOT. The first area of interest was the PA stall at 1262 just below the short BOT. A buy hit on B5, and was reversed at B13. The next sell was at B29 and reversed at B38.
The next point was very interesting. A short signal (S+ type) was given at B46-47. This short ended in a MAXT at B48-49, and was followed by a short (S- type) at B53-54. This flip in the short signaled a market reversal and PA pressed past the SB for a BO5, BO10, and BO15 run.
More will be reporting on these S+/- and L+/- set ups.
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