Top Pick Trading Forum

Guest wrote: ↑Sun Jul 23, 2023 8:45 pm This clarifies everything. Thank you for taking the time to do that

Whoops, this was me

This clarifies everything. Thank you for taking the time to do that

Have outlined the important aspects within the graphic:

Thanks for your fast reply Eric! I believe I understand most of what you're saying here. Please correct me if i'm wrong. The idea seems to be not to focus so much on labeling the local PA where the setup occurred as a failure, but rather that the entire range is an attempt by the bulls to push higher and breaking below the range is essentially the trap and allll the bulls prior will be giving up. Did I get that part right?

Next, where you say, "The area above, as you outlined is exactly the target. The bottom of the zone is only covered by tails of the upper area, and the lower attempts. This means that there was little time for all participants to achieve their goals and if the bulls fail -> Look out." are you referring to the red zone I drew directly above the 2ES at the bottom of the range?

Thank you!

Great insight!

Yes on the trap. The perfect bull bar had very poor follow through and the previous bulls are working to get out! However, THEY CAN'T! This means that if the bears can "stick" and push through the bottom of the range, expect 2 legs down as everyone agrees that the bears win. This is what you see happening with the bear bars at the low and the attempted rejections - and then - bulls surrender.

The area above, as you outlined is exactly the target. The bottom of the zone is only covered by tails of the upper area, and the lower attempts. This means that there was little time for all participants to achieve their goals and if the bulls fail -> Look out.

2ES - Agree.
F2EL - I do not care for this designation here and this is "labeling" Can it be counted like this? Most will say yes but that isn't what is happening here. The trap from the upper range, which can not be achieved, that is the aspect to notice, which you have. You'll notice it also can be labeled a F2EL from the lower range too, so potentially confusing here and why I'm not a big fan of the F*** here.

Also please take note that all of this is occurring within the framework of the large bear bar. That is the challenge, to work that selling pressure off, and the marked zone above, which also breaks that bear bar.

Great work!!!!

Hello! This is my first post here on these forums. I was looking to get some feedback on this 2ES / Visual F2EL marked T5 on the chart. It looked to me like a breakout-pullback of the range. I thought the signal bar was great, closing below EMA on it's low. I felt this was going to trap a lot of bulls. I also had a mini supply zone where the 2ES pushed off of.

Thank you in advance!