Freaky Friday Wrap Up

Boy, this was a fun session – and fortunately I took snap shots throughout as I knew right away this would be a great textbook play to record for posterity. Let’s start with Trading Mom’s triangle formation which was pointed out to me mid day:

Yes, it says Volar but it actually turned out to be Trading Mom – my mistake. Now it’s about 2:00pm EDT and what we have here is a beautiful symmetrical triangle on the Zero Light. Which I immediately posted for my Zero subs – to make sure nobody was missing out I also sent out an email and a twitter.

You can read the comments I plastered all over the chart. The idea here was that we either would get stopped out via a head fake or that this thing would close the gap. Time to get positioned.

And down she went – I told everyone that I would be out on the gap fill. And that’s exactly what happened – which is when I immediately pulled the plug, expecting a snap back.

And just as expected we got a bounce right after the gap fill. Paleeeze – this is so predictable. Anyway, Volar ordered me to extend that lower triangle line on the ZL which indeed may prove too much to overcome for the longs.

And that’s exactly what happened – awesome. Complete failure by the longs to retain the early morning gains.

They tried but to no avail. The ZL signal also flattened out which clearly told us that it was time to call it a weekend and leave it to the suckers to hold the bag over the weekend.

Now, if you are not an Zero sub please take another look at that very first chart. This is all crystal clear in hindsight but I ask you this: If it wasn’t for the Zero Lite triangle would this setup have been clear to you? Maybe you are that good – or at least believe that you are. But I personally could have easily missed it and that drop may just have caught me by surprise.

Shameless Plug: If you are interested in becoming a Zero subscriber member then don’t waste time and sign up here. On top of the Zero feed it also offers access to all Gold posts, so you actually get double the bang for your buck.

Thanks again to Trading Mom for alerting us all to this textbook setup.

I’m not saying that is a picture of her – I will leave that up to your own imagination. The real question that should keep you pondering this weekend is what keeps those panties attached.

Cheers,

Mole