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Here's another way of looking at it.

So I get 80.75 as the Pivot, with 90 as R1 and 75 as S1. When numbers line up like these there is bound to be some volatility.

This is where heroes are made...and killed.

If I was a gamblin' man I would say a break above 85.50 and we see 90 by the close. But I suck at gamblin'. :p

Just think of the millions that are being made by algos playing for quarters in this one point range. As Ammo always says, we are just here for liquidity until they make up their minds...:eek:

That's the dotted green line on my chart, R1. Now forming a support level.

Exactly, and that's the game. Retail afraid to pull the trigger here, and by the time we do, the train done left the station. Serious breakout pending here, but I'm not risking my $$$ on the coin toss. :D

Here's where we get the showdown between the Pit and the Paper. This what the Brits call a "sticky wicket." Double top at 84.75 has retail thinking reverse and short. Pullback to R creating doubt about entry. Big Money always wins. :p

This level is more than a "line in the sand", it is a sand dune!!

Here's another look at it on the 15. One tick higher high...:confused:

Solidly above R1 and lots of room to run. If no double top formed here I can see a run for the 90 area by EOD.

I found a Tweet with that headline, but no solid reports on the major sites. http://www.forexfactory.com/news.php Looks like someone was trying to spark a little rally in the EUR. :p

Good job hanging tough, M71!! Enjoy the round. :cool:

I always like to read this guy's take on numbers and the economy in general. He's a cynical SOB...kinda like me. :p http://www.zerohedge.com/news/us-non-manufacturing-ism-beats-modestly-employment-index-tumbles-year-lows Not boding well for a bullish summer, but maybe that's a reason to...

Now that we have traded above R1 and back below, there is a possibility that we pullback to the 50% level around 78. Shorting here has potential, but not enough reward for the risk, IMO.

I was looking at the short side in the premarket, but once we traded above the Pivot that opened my eyes to another scenario. Also, gap open helped convince me to go long. ES traders love gap fills.

Thanks, Ammo. Learning to trust and execute...slowly but surely. :)

Thanks, that was a sweet setup!!

Covered rest @ 82, +10.

PMI slightly better than forecast...green light for market rally.