BOTTASTIC

WE have said many times, the BOTs were developed to measure key BO points in the market, track professionals intent, and as a measure to develop a preference in the PA direction.  BOT breakouts are not just any BO; they are key to THE MARKETS.  A point were we see PA, BOT and the EMA meet time after time.  Where we see BO's that trend.  Today was no different.

In the webinar we discussed numerous trade setups, and discussed what professionals were likely to do.  Trading with the markets and not against, we even saw a switch from long trades to short trades, all because of PA in relationship to the BOTs.

In any endeavour in which you become involved, there will always be points in time where new directions, changes, etc. will become factors that will change your future.  We are approaching one of those forks in the road.

It takes time to accumulate charts, post information, write the review, and so forth  for a blog.  The blog has been successful, which high visits per day and accumulated visits, and the visits have come from numerous countries.  The issue is writing each evening about "how the BOTs did today..."

They work.  They work very well.  But I'm at the point of deciding to continue, or simple let what has been written be the basis of learning, and new post become spread out or stopped all together.



TODAY:  trade the BOTs, the BO's, MAXT, TL's

There was a bear channel coming into the trading ranges on the ES.  Shorts turned to longs.  All were cross confirmed in the markets.

A MAXT began a consolidation.  Per discussions, we love consolidations:  they will BO as a trend continuation, or a reversal BO.  RBO's tend to have a trend run that exceeds the length of the trend run entering the consolidation.  The market hit +10 from the pre open low, and we had the BO reversal bar from the consolidation.  The EMA was at the LB and a key level for the downside.  We discussed the +10 run to the downside as a minimum target.

BOT and TL's (channel. pennant, channel) BO's are important sell points.  The Bear was set.  We were in early.

Given time, others would clearly see the bear when they identified the bear channel, and new sellers entered the markets.  1263 was the initial target.

Consolidation at the pre open low broke to hit the 1263 target, and pushed to 1259 before a PB was noted.  B58 and 59 in the ES was a MAXT at the EMA  reversing price back to the 58-1259 levels.  By bars 68-69 the 1263 resistance held again, sealing the bulls out and letting the bears run the market to 1247-1248.

Not bad for a 1271 BO of the short BOT.