@AlexsOptions Ya we was expecting that. Now we just need to see if that's it as magnitude was to take that out and see if we expand to the downside or go to the other side.
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Fernando Murillo
3.4K posts
Fernando Murillo
@IronSpader
Been a trader since October 2007. Today I trade mostly options on equity for myself.
Brooklyn, NY Katılım Şubat 2014
3 Takip Edilen54 Takipçiler
@AlexsOptions Ah easier to say once it's done. I was talking to you about it yesterday and you did not had much faith in it. You was like uh it already did 99% percent of it. And I was like if this is the truth it will go to the top of the tri. That is the truth.
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Price is now on its EIGTH round trip of the broadening formation.
You literally cannot find anything better than that
Long and short 7x at best? If you waited for it to grow it gave multiple 400pt+ moves.
Alex@AlexsOptions
Price is on it's 7th time doing the broadening formation since we first showed you. Are you seeing how this repeats? $NQ_F / US100 / $QQQ
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@AlexsOptions We got it, that is the truth. Always the truth. Now it can sell off
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@IronSpader A 1 always becomes a 2. A 2 can become a 3. That is the truth?
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Price is on it's 7th time doing the broadening formation since we first showed you.
Are you seeing how this repeats?
$NQ_F / US100 / $QQQ
Alex@AlexsOptions
And people think that price discovery isn't' broadening. Blows me away!
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@AlexsOptions And we will get the 3. Just need some patience. Need to believe in your broadening formation. If it's there we will go there. And since we are keying of oil we just need oil to pull back to get to the top of the tri.
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@AlexsOptions Boo so that's not the truth. It's either the truth or not.
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@IronSpader The truth is that price moves further back through a previous range than the breakout of a range. 3s are a phenomenon not a mandate.
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@AlexsOptions Hmmmm if the truth is the truth then it will get their. Maybe some news or oil tanks.
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@IronSpader It went through 99% of the range that is about as good as you can get man. It went 400pts from the bottom of the broadening formation.
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@AlexsOptions Seems like SLB does not go with the other oil stocks. Oih trade in different step. I will be remembering that from now on
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@AlexsOptions I'm seeing some buys. When stocks like Iren and Tsla are rallying strong it's worth noticing. Again I don't think this market is like last year. We are still stuck with November range, so it's not a free fall.
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To see any follow thru wed have to get OUTSIDE of the morning range. By staying inside the range we are poised to test both sides. Exiting the range = strong directional move
Alex@AlexsOptions
This seller came back and sold the majority of the market today. Institutional sellers sell across the board. Not just one stock
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@AlexsOptions Meh one day doesn't make a trend. Weekly still a 3. So looking forward for tomorrow more follow through
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@AlexsOptions Yes another fail. Gap down and being bought for umpteenth time. Hence the inside quarter for the qqq, spy inside the mother bar range of November. But the quarter finish at the end of this month thank God. I want trending market.
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Is war the best analogy for what markets are?
I think I see the parallels a LOT in the broadening formation.
In the middle everyone agrees on price. At the edges is where the battle really takes place!
The russel 2000 lost broadening support and erased 2 months of gains in less than 2 days.
The war of price discovery is underway!
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@AlexsOptions Actually now that I noticed the quarterly on the ES it looks like a 3. The qqq are inside quarter for now. I will think in order for the 3 to finish in this quarter we need to do it this week. Every week we seen that it gaps down and they buy it. Will the same happen this week?
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@AlexsOptions Told you. Not much great movements like last year where it was a real selling. This is just range trading. We are still in the mother bar from the big bar of November.
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@AlexsOptions Meh still overnight movement that is being bought. This is completely different then last year when the whole tariff thing. This seems like forced and thus the market is not in free fall. A lot of chop. I think for the quarter we are in the quarter range, so a lot of chop.
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@AlexsOptions Nasdaq still inside the mother bar of Feb 2. Until it gets taken out they can easily buy this Monday.
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The market opens 110+ point lower after algorithms were told to sell and hit the bid last week!
Alex@AlexsOptions
This week and today the algos are told to sell and sell EVERYTHING besides some names in tech/energy/utilities
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@AlexsOptions But we are still inside the mother bar of October. Probably stay inside the range for the quarter since only one month left
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You've gotta know that 3s exist or else you get blind-sided just like when the market took a down turn in 2022
Any time spy is below year open you are at risk of much more selling than we've seen in recent quarters!
This is an edge as this is the first thing you would see if we were to drop this year!
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@AlexsOptions Not at this moment. Hopefully by the end of the session. If not then just choppy again. Still stuck inside ranges. Boring
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@AlexsOptions Obviously because we been inside the mother bar from October range
It's been good for day traders but for swing trading has been very choppy market and hence mother bar issue.
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