you have some major balls to post TA using your real name, so kudos for that. i’m curious to know what you think of larry levin’s value area and if you ever use it when trading. if you’re not familiar, i can send you a link.

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Posting as :
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I am not familiar with Larry's zones. I use the Fibs to identify turning points in the market and where I can get a free trade with as little risk and greatest reward possible. I simply sell and take 10-20 tick risk. Then when I get to +30 ticks, I move it to break even and try to ride it. Not always successful, but it limits losses and and ride gains. People who dis technicals have no idea what they are doing. If fundamentals ruled, this market would be down 40-50%. Eventually, we will get there.

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Additional Posts in Daytrading Emini Futures

I am short ES as of this evening. We are right up against a daily short level and I am using this 15 minute entry in the afterhours.

Morning S&P Update: Same draw as the YM (Dow) last night. Sell off from All-The-Way HWB happened in Europe. But, look for rebounds as Friday's tend to be range bound. Locked between two 50% levels?

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Beautiful Sell of YM (Dow Jones Index) futures at the 50-61.8 Fibonacci Zones during the last few days. Now, a retracement is needed to the new sell zone. So, expect bullish action back up to new 50%.

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It was never my thinking that made me money in the market. It was always my sitting. -- Jesse Livermore

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Nasdaq and Stocks want to make a double-top here. At the moment, hard to be short with this momentum. But, a break of the extension will mean a nice retrace and a move back to our lows of the year.

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ES reaches it's 2888.75 objective from the 2812 long on Friday morning. Usually, this is where it would turn, however, Wall Street needs it's fill up here too. And, the end of the channel is in sight.

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Not a day trade specifically, but seasonality and fibonacci are my two favorite methodologies. Grains tend to hit their seasonal lows here in early May. Time to go long for the next 4-6 weeks.

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YM Update: The 8 AM selloff was impressive. It went right to the 61.8% line . . . admittedly my last add after taking two other shots in between the 50-61.8% line. Weakness into close, see rebounds.

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Men who can both be right and sit tight are uncommon, it is only after a stock operator grasps this that one can make the big money.

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Updated: Europe and Wall Street Wants Their Fill . . . Reload the Short and Sell the original Half-Way Back Short . . . Lows made in Asia don't Count. :) Sold 24250

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What's up everyone?

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