Battlemap 🏴☠️
We are now at MID-halfback of the rally session and approaching value low. Watching to see if we get some support coming in around this zone. Sell pressure should decrease, buy pressure should increase and see if this thing hits bottom and reverses.
The long keeps paying in #ES_F. 0 to still but ride runner. We had 2 big things happen: 1) Last Wed a Failed Breakdown of Aug 3rd 7611 low. This got us long, updated non-stop 2) We broke out a macro bull flag at 7770. Up we go
Plan: 7850, 7860, 7864 next. 7812 (watch traps), 7770=supports
Please allow me to translate the profound message Linda is conveying. She is noting that the intraday price uptrend on Monday is very linear, such that even a very tight stop is not getting hit. Signal processing engineers would say that there is a high "signal to noise" ratio.
Smooth intraday trends typically happen when there is a large amount of money that needs to get put to work, but the big firms don't want to dump a large order into the market all at once and move prices. So their trading desks use algorithms to chop up the large slug of money into smaller pieces, doling orders out more slowly. This results in that linear form of the intraday chart plot.
The key takeaway, therefore, is that there must be a large amount of money deciding to move now, based on seeing footprints in the intraday plot which match the behavior of prices when that condition is in effect.