I just spent 2 hours watching these, live here in LA, as I waited for the start of the European markets. I wish I hadn’t. I learned nothing other than that in the event of my winning one, I should (a) look astonished (b) pretend I hadn’t rehearsed anything (c) say the other nominees were equally as brilliant as my work, and then (d) thank everyone. Literally everyone.
But now to the week ahead (and the one just passed).
On the Dow we said the range would be tight but we wanted to get to 24,100 then 24,800. As it happened there was a lot less action that we had expected.
Notice how this weeks projected range has narrowed.
As of now, 24,800 looks unlikely. Look at the shape of the SW1 swarm above the price.
It is swooping lower, and could cap any upward mode at 24,100 right now, and likely lower that number tomorrow.
I still think we can see 24,100 though, but I am avoiding end of day trading now in favour of the lower timeframes.
What does this mean for traders?
I start the week in neutral mode, and when I’m neutral I back off the SW1 trades in my smaller timeframes and set myself up long and short on the 15 minute chart. Typically I use only SW2 and PRB trade types. Simple. Effective.
Oh, and how did we do last week? On the Dow, a net 632 points. Quite happy.