As the live Jellie trading tanks have evolved, our traders have developed a rather unique version of “Jellie shorthand” which allows us to describe and communicate various market conditions via audio or text with ease in such a way where all immediately understand the conditions.
“Air on XX” – Reflects the fact that price is stretched on the stated timeframe (“XX”) such that visual “air” exists between price or VIX and defined trend support. Example: “Air on 60″ is shown on the attached chart (click to enlarge) and provided room for the market to trade out of its 2pm consolidation breakdown toward its hourly trend support. The result was a strong visual guide for potential short profits, as well as caution flags on early long fades prior to a reversal trigger on a lesser timeframe.
“NML” – No-Man’s Land (with apologies to our female traders). Reflects an “efficient” market that is trading mid-range where minimal opportunity exists for wholesale entries and subsequent profit potential. This is often best defined by our 1500 Tick Range chart per the attached.
“IFT” – Inverse Fade Theory. Reflects some of our traders’ desire to ride the immediate short-term trend during times when we issue “No Fade” warnings, as is often the case late in the day when we warn of potentially disastrous late-day fade entries.
“DMI” – Don Miller Indicator. Coined by the first Jellie team to reflect my general interest in trading current market conditions. A low value often coincides with SOOT and SOH conditions.
“TMAR” – Take the money and run. Reflects immediate limited expected potential.
“JIC” – Just in Case. Reflects scaling out of partial position into extension in times of lower probability of extension due to higher timeframe conflict, excessive air, etc.
“TD” – Tick Divergence. Usually accompanied by the applicable timeframe as in “5 min TD”.
“TUB” – Trust Until Broken. Trade support premises such as key swing highs or lows, taking into consideration it’s a “zone” only as the market is famous for probing stop levels.
“LOD” or “HOD” – Low of Day or High of Day. Can apply to price, TICK, or VIX.
“SOC” – Scene of Crime. Reflects frequent return to pre-news release price due to vacuum created.
“MATD” – Morning after Trend Day. Reflects expected tradable oscillations as the market adjusts to new price levels. Its brothers include “MATC” (Morning after Trend Close) and “MATN (Morning after Trend Night).
“POLR” – Path of Least Resistance. Reflects the current market “current” that Jellies attempt to ride based on prevailing trends and timeframes.
“F6 Buyers or Sellers” – F6 refers to a unique screen provided by the Inside Edge Software that filters chart turns and trends to isolate block trades only (custom sizable). It’s often best to align your entries and exits WITH those trading size.
Like a Tom Brady to Rob Gronkowski wink at the line of scrimmage, such Jellie shorthand allows us to quickly communicate conditions and/or our current trading intent quickly and efficiently, while enhancing — rather than distracting — trader focus.