@Norseman1 Do you think the 10/10 low was a significant higher low since the vix shot up to 28? Do you find it unusual the /ES markets went under the 10/10 low since it may be considered as a HL?
@theshortshark@DrizzNation20 I do want to join again, just curious are you still teaching? (Explaining the setups in more detail like stop loss placement and targets in mind)
@Willia32@DrizzNation20 Can’t trade 3-5-10 or any other timeframes with out an understanding of where price is on higher timeframes.
Lower timeframe confluence with higher timeframe>>
@theshortshark@DrizzNation20 Lol day trading is not for everyone, but I remember the importance of learning how to fish. Probably was better off to join the mentorship program back then. Wish you told us to zoom out to daily, 4hour charts back then rather than 3-5-10 min charts
@DrizzNation20@theshortshark Was it easy to learn from bullshark? Everytime I see the recaps it's tough to understand the setups. I was apart the the group in 2021 it was difficult to understand his setups
I started posting on X in late 2022 at the advice of a long-time trading colleague. Having been trading since 1992, I will never offer any paid services. Not my kind of gig. 💯
I’ll just pass along what I know to help newer traders not make the same big mistakes I made when I was new to this craft. I’ll get some calls right & some calls wrong. But generally hovering around a 70% hit rate since 2015.
It’s just better if we all help each other win. 👊🏽
Look at the bright side. Once $SPY gets back to $613 trade talks won’t move it anymore. 😆 I learned this lesson in 2018 during that tariff war, never hold much short or long overnight or one China headline can obliterate you.
@market_sleuth Exactly my thoughts, 50DMA on NQ will lure the shorts in only to realize there's strong support from the Thu Rip. Think ATH is coming this year and then sell off
In 30+ years of trading I’ve seen similar price action as we’re seeing now in counter-trend rallies after steep drawdowns. Usually they net 4-7 days of gains then a 1-2 day pullback which sucks in shorts thinking “the rally is done!” Then it moves higher again for a few more days which sucks in the folks thinking “happy days are back” while the shorts abandon ship.
March 2022 was a textbook example 🔽. A 6 trading day rally (16th - 22nd). A one day pullback on the 23rd then 4 more days up which peaked on the 29th. When that rally was peaking in late March how many folks on Twitter were sharing charts showing a new bull market was unfolding? 👊🏽
☘️Trade of the day☘️ $SPY
-> HTF tried to flip long but rejected
-> LTF provided a good risk for intraday short flip
-> Roughly 10 dollar move lower with the help of intraday news/ J pow catalyst
Solid day over, should’ve sized heavier but t+2>t+1 of new trend continuation🤝
Today the $S&P is trading nearly identical to the 8% flush on April 14, 2000. (I traded that entire move). That proved to be an interim bottom before a 9% rally over the next 6 trading days. Today or Monday is my call for a tradable bottom. 💯👊🏽
☘️TRADE OF THE DAY☘️ $ENPH📉
-> HTF short continuation
-> Rejected the overhead gap
-> Loss of intraday trend structure
-> Market fade added confluence
-> Relative sector fade
-> Target for LOD+
-> Theta risk
Overall good trade, didn’t size the way I would’ve liked to vs R
☘️TRADE OF THE DAY☘️ $LLY
-> T+1 from earnings
-> Retest of bounce spot from yesterday
-> Higher timeframe confluence
-> Holding up well vs relative market short
-> Premiums relatively stable vs morning push down
Overall good trade📈
Happy Halloween🎃👻