0744 CST As of right now, we need to watch:
107 17
107 13
Do nothing in the middle of the above range. I'm standing aside.
107 17
107 13
Do nothing in the middle of the above range. I'm standing aside.
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Bond Trader 2007
- Thread starter johnpinochet
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0755 I'm leaning towards shorts. I will make an attempt between 107 14 and 107 18, keeping in mind that the first trade or two might be fakes.
CPSR and WGSR are roughly the same so far for the first two hours of ZB trading. Look at yesterday's charts to see the levels.
The WG has clearly established the important levels so far this morning.
The WG has clearly established the important levels so far this morning.
I'm short at 107 14 per my previous posts detailing the levels.
Looking only at yesterday's levels which are in the chart, a strong argument could have been made for shorting as we approached 107 18 for the first time at 0848 CST. I said that important work had been performed there.
Today the WG performed important work at 107 17. It is only a tick off of 107 18. Between yesterday's chart and today's WGSR of 107 17, there was no reason to do anything there right at that moment in time. Especially on the first approach.
What I mean by doing nothing is that there was no reason to buy at all right there in anticipation of a breakout. Too much work had been done at 107 18 to allow a first time pass to break through. As I said at the beginning, maybe a short, but certainly not a long. The absolute safest play was to do nothing. A four tick range is very difficult to trade especially with a bad fill.
Looking only at yesterday's levels which are in the chart, a strong argument could have been made for shorting as we approached 107 18 for the first time at 0848 CST. I said that important work had been performed there.
Today the WG performed important work at 107 17. It is only a tick off of 107 18. Between yesterday's chart and today's WGSR of 107 17, there was no reason to do anything there right at that moment in time. Especially on the first approach.
What I mean by doing nothing is that there was no reason to buy at all right there in anticipation of a breakout. Too much work had been done at 107 18 to allow a first time pass to break through. As I said at the beginning, maybe a short, but certainly not a long. The absolute safest play was to do nothing. A four tick range is very difficult to trade especially with a bad fill.
Exited half at 107 12 and half at 107 14.
107 10 is an important level from previous days, and it would have been my standard 4 tick profit trade. Once it held, and price started back up, my rule kicks in.
107 10 is an important level from previous days, and it would have been my standard 4 tick profit trade. Once it held, and price started back up, my rule kicks in.
0818 CST I'm looking to short again although a new CP was just established now at 0808 with an SR of 107 13. If I go short it will be small size.
4 min bar is actually looking positive. Holding.....
4 min bar is actually looking positive. Holding.....
On my hourly turning point support/resistance (TPSR) neural network (NN), we are short below 107 16 and long above 107 16.
As I've said over and over, for my scalp trading, I only have yesterday's chart with yesterday's red lines still drawn in. A quick trader could have made a couple of 4 tick trades at least so far this AM, only looking at that. I'm looking for 10 ticks or more so I'm trying to set myself up for more of an hourly range trade.
As I've said over and over, for my scalp trading, I only have yesterday's chart with yesterday's red lines still drawn in. A quick trader could have made a couple of 4 tick trades at least so far this AM, only looking at that. I'm looking for 10 ticks or more so I'm trying to set myself up for more of an hourly range trade.
0904 CST Long 2 ZB 107 15. Very small size. Initial target is 107 18.
New time coming at 0924. I'm assuming a spike up. I'm looking to add to my ZB's in increments of 2 lots.
Remember what I said about 107 18.
Remember what I said about 107 18.
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