Greetings,
Well, the Euro currency managed to stay above 1.215 today and in fact they managed a modest rally back up into the 1.226 area.
THAT'S ALL THE STOCK MARKET BULLS NEEDED TO SEE! It was 'Blue Skies Forever Again' on Wall Street as the Dow rallied 225 points higher on the day.Without the threat of a Euro collapse the bulls promptly squeezed the shorts into submission. Does any of this have anything to do with economic fundamentals? Of course not ... it's all a big game on Wall Street. Those that are over leveraged get crushed on every reversal up or down.
PATTERNS THAT REPEAT
Below is a 22,500 volume chart of the ES futures. Notice that the patterns are the same patterns you see on the 7,500 volume chart of the ES. These patterns appear in all time frames and on all securities. The KP indicators on these charts are the same as the ones on your 7,500 volume chart. Just apply a template of those indicators on a 22,500 volume chart.
I need to crunch the charts down to fit onto the text box here, so they are a little hard to read. Below is a close up of that chart showing today's rally. Read yesterdays e-mail about HPL and LPH. Notice the markers on this chart for today
SAME GAME DIFFERENT TIME FRAME
A Kwik*POP trader BUYS HIGHER LOWS (HPL) and SELLS LOWER HIGHS (LPH). From an ego standpoint I wish I could say our methods were more sophisticated than that, but hey ... simple works for me ... HOW ABOUT YOU?
Regards,
WDH
THE
COMMODITY FUTURES TRADING COMMISSION. ( C.F.T.C.) This brief statement does not
disclose all of the risks and other significant aspects of trading in futures
and options. In light of the risks, you should undertake such transactions only
if you understand the nature of the contracts ( and contractual relationships )
into which you are entering and the extent of your exposure to risk. Trading in
futures and options is not suitable for many members of the public. You should
carefully consider whether trading is appropriate for you in light of your
experience, objectives, financial resources and other relevant circumstances.
Some of the examples used are hypothetical. Hypothetical trading results have
many inherent limitations and may not reflect actual results since they are
done with the benefit of hindsight and do not accurately reflect market
conditions and the traders emotional level while under the stress of trading.
No representation is being made that any account will or is likely to achieve
profits or losses similar to those shown.
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