TODAY we had a failed break out at the long BOT in the Euro Zone hours which led to a range run and short BOT break out to SB-2, SB-5, and SB-10 area. Since most readers are not in the IRC, the chat log is listed today to analyze trades. All links are deleted, and private names have been removed . Chat can be cryptic, but you should be able to figure it out
EURO ZONE
CHAT
1[06:17] <CM> new overnight BOT levels Euro Zone mostly a H&S type but some range run play back later. (link deleted)
01[06:22] <CM> looking pos for the range run to LB to try the highs (link deleted) final longs exit at be (the gap at B231)
01[06:29] <CM> if this continues the range run: 1 move stp to TL 7.5 area then around 50% of the LB-MB range adjust again
01[06:48] <CM> still ok MB and EMA and TL not violated exits to consider for the range run are : the lb lb -2 LBBO-5 these may stall and not hit until the US Mkt but are valid levels
1[07:40] <CM> range run still in play adj the 7.5 stp to 1409 prior targets still valid (link deleted)
01[07:43] <CM> the ema is MB+ and allows us to adj the stp for added profit in the range run
[07:49] <xyz> anyone short?
01[07:51] <CM> exit trade done
01[07:53] <CM> still bull channel at MB and vwap will past this time on short back later
[07:54] <xyz> you were long?
[07:54] <xyz> what price?
01[07:55] <CM> yes from 5.75 was posting before you arrived will add comments to blog this evening the ranges today are 12.5-8.75-5.5 (link deleted)
01[07:57] <CM> had moved stp from 7.5 to 09 when pa hit 50% of the LB-MB range
01[07:58] <CM> meeting at 8 cant trade for a few..
THE US MARKET
THE CHAT
01[09:38] <CM> GM ALL SB longs see if mini bear pb to SB breaks higher had expected a range run possible delay until us mkt targets 12.25 lb+2 lbbo-5 trailing stp
[09:40] <x> what is sb?
01[09:40] <CM> short bot
[09:41] <x> what is this mean short bot long
01[09:41] <CM> this was the euro zone action discussions were posted and will be in blog later this evening
01[09:42] <CM> (x) longs taken at the sb which is support will not short until it breaks. bots are where pa favors the long/short as dominant
01[09:43] <CM> ex part 7.25 bal stp at 5.75
1[09:44] <CM> ready for switch
01[09:44] <CM> nice bear CB b3
01[09:46] <CM> continuation shorts entering
[09:47] <c> what’s the target
01[09:47] <CM> mine is bo2 and bo-5
01[09:59] <CM> sb reversal
01[10:01] <CM> 1407 is 50cb of that bear cb
[10:02] <c> anyone thinking new hod?
01[10:02] <CM> y
01[10:04] <CM> +1 and run
1[10:05] <CM> stp to profit win-win
[10:08] <o> cm, is your sb at 1405.5?
01[10:09] <CM> y
01[10:09] <CM> 12.5-08.75-5.5
01[10:10] <CM> stp out
01[10:10] <CM> look for new long 7-7.25 sh the sb
[10:15] <o> CM, if a bar closes below your SB, do you sell short?
01[10:16] <CM> with tight range as yday and today yes but low risk to take it exactly
1[10:17] <CM> sh 5.5
01[10:54] <CM> ok back the t1 hit t2 will move if bear is strong at bo-5
1[11:21] <CM> pa flat stop above ema bo-5 still open target
[11:24] <CM> w/o new sellers the threat of a narrow range day lurks
[11:32] <CM> t2 to 1397
[11:37] <CM> bo-5 hit
[11:47] <CM> es stp to 1401 target 2 still 1397
[11:52] <CM> ding 97 out
[12:43] <CM> the rev has an opportunity to retrace to bo-5 1400 area (link deleted)
That is a look at the thoughts as the market developed. By B58-59 we had a buy set up for the run to the BO-5 level. Exits (marked with X) were taken at +1, +3, and +4 as PA moved back to the discussed 1400 level and the BO-5. With BOTs
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