Getting tight. Friday chart wise the hourly makes a decision.

OPEX gents trade wisely!

FJ43 said:

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Getting tight. Friday chart wise the hourly makes a decision.

OPEX gents trade wisely!

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Your triangle looks nicer than mine :-(.

SF2004 said:

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$XOM pumping did not age well on here.

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Eh. The 52w range is about 80-120. It's sitting at close on 102 today. Honestly that's not bad, all things considered.

SF2004 said:

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$XOM pumping did not age well on here.

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SF - I've decided that I'm actually irritated with you and will no longer respond to your posts.

$30,000 Millionaire said:

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SF - I've decided that I'm actually irritated with you and will no longer respond to your posts.

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Bless you

$30,000 Millionaire said:

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SF - I've decided that I'm actually irritated with you and will no longer respond to your posts.

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This made me giggle

I think today's the day. If you are looking for a trade then buying the first dip expiring $SPY calls $2 away would be worth a look.

If you are in Friday to Tuesday $415 calls don't take early profits this time.

Golf1 said:

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OA are you still holding onto your June SPY puts?

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Yet. But I've also been trading these ranges expecting this sideways pattern to play out. Buy puts on up days, sell on down days as I buy calls. All 2 days out each time. I ceased that yesterday with the sell of last puts and have May 22 calls instead bought yesterday.

Made $700 on conference calls.

Spoony Love said:

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Good plan until it isn't. But you'll have fair warning when it isn't. If anyone had followed this plan since March 31, they would have made a lot of cash.

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So true! But as that pennant collapses tight the "isn't" becomes "don't". Ha!

I trade just like I showed in the seminar. I trust Model T; especially macro MT. You look at the high low and guess where we ended up after the sell off confirmed a reversal? A flash above Model T! Now tell me if you were convicted to trade for that Model T achievement number from 3600, 3700, 3800, 4000, etc how well did you do? And if you sold on the flare up above Model T how did that work out for you?

That leaves us with "what now"? I don't know. Model T achieved and consolidation with natural resistance can go either direction. The recent blue lines technically suggest a breakout upward is coiming, but there's a reason why I have Puts out as far as July and calls out only to next week. The MACD indicator has been pretty darn reliable in trend pivots. Average 22 days per cycle and we are at day 17 since they last crossed. That puts the clock at May 23rd or 24th as a predictor. I don't trade as large in these periods. Wait for direction to confirm.

oldarmy1 said:

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I think today's the day. If you are looking for a trade then buying the first dip expiring $SPY calls $2 away would be worth a look.

If you are in Friday to Tuesday $415 calls don't take early profits this time.

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I gave it real time $413 expiring calls right at what became the days low. Price was $0.16 and it hit a low of $0.14.

Now at $0.45 and everyone is net free. I don't know if this turns into THE breakout or its just the up day after yesterdays down day. It still feels a little different, but I still follow the disciplines. Just want people to make $$$

This is where you'd want to begin the move back up if today has anything in store for move. Some $413 $SPY expiring calls on the cheap.

— Disciplined Trading (@oldarmy1) May 17, 2023

BaylorSpineGuy said:

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Carioca Corredor said:

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$30,000 Millionaire said:

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Made $700 on conference calls.

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Must be a smooth talker. Congrats!

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Yeah, but you should see the other guy…

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the doc has seen me in action. I promise you don't want to be on my business end if I'm pissed off at you.