MURICO.com Forum

Re: It did give a hint-----
In Response To: I thought that - - - ()

of where the market was thinking about going to, willing sellers and willing buyers at that area before the action started to set a psychological reference point in all traders minds. It scared me enough with the possibilities that I canceled my fishing lines @ 70.82 but after the first 15 minutes of trade, I decided my 71.00-71.20 up momentum target had a good shot at happening, I bot @ 70.70 and set my Damage Control @ 70.42. Made deposits @ 71.05 and 71.20 and now my bearish bias has me short 1 @ 71.32 and risking half of my early profits with Damage control @ 71.72. My deposit order is waiting @ 70.82 but I doubt the Prime Directive will allow me the patience to wait for it, I'm sure the screams of "keep what you have" will be deafening if it drops back to 71.05.

I stepped out of my typical comfort zone, with a Guess trade but my negative bias was re-enforced last night when my research showed that the 2nd week in March is when reversals begin for the April contract. Since the market is trading sideways at the high end between 69-72, of a $10-$12, 2 1/2 month rally. The roll over is in place and ready to trigger a potential $5 setback that has a preference for happening sometime in March. Ignoring a guess trade has become too much for me to ignore. I have to make a choice right now-----whether to hold or fold. The Prime Directive is starting to scream.

Messages In This Thread

Is it possible that the market is going to - - -
I thought that - - -
Re: It did give a hint-----
Re: It's hard to win an arguement
Re: It's hard to win an arguement