ES Journal - 2012
- Thread starter Buy1Sell2
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Referring to which profile?
EDIT: nevermind, I see your post afterward...
First of all, that's an SPX profile so I would not consider it valid at all unless it were TPO-based. Secondly, the granularity of the profile in the chart you showed looks to be at two to three points per TPO. I'm dealing with trades where my stop may be smaller than that, so I would need to see something more convincing on a smaller scale; sure, it may be a "ledge test" but when the ledge is 5 points wide, it gets too large for me. I was looking here at catching a portion of a retracement, nothing more.
the one above last post,the 1370 may high doesnt give you anything above so had to go to 4 yr profile ,cut it down to 4yr 2day verses 4 yr week or month or daily to get more built up s/r's. heres a 1 yr ,doesnt give any thing above 70......edit reply josh, ....just suggesting you start playing with them,if it holds,it gives me a short bias back to 58 cash ,if broken 46 cash,if 58 holds, bounce back to 67 and take it out and fill cleavage to 77,this 2nd scenario may have already happened in the es ,very tricky lately with (ben and his central bank friends)the printing machines firing mortar rounds at any sign of a dip
13K Dow for media
at the moment djt on its new low heading for 5138 ledge,helps me confirm a long or short bias and stay in or cut short a trade to the next s/r,again tricky,none of the correlatings,dollar,eurusd,djt,spx are playing well together, manipulation,for exp it's easily reasoned out, afterwards not so obvious
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