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ES Journal - 2012
- Thread starter Buy1Sell2
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What's up everyone?
no -600 TICKs to be seen. There will not be a direction change IMO until we get one. If price makes new highs, and does not make a new high TICK of the day, it is a statistical assumption that price will keep making new highs until a new high TICK gets printed.
no -600 TICKs to be seen. There will not be a direction change IMO until we get one. If price makes new highs, and does not make a new high TICK of the day, it is a statistical assumption that price will keep making new highs until a new high TICK gets printed.
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Quote from trickshot:
Could still go lower... 10 was the lowest before the 2008 meltdown.
I think daytrading is pretty much pointless if volatility continues to sink, the R/R is simply not worth it.
agreed. that would be yet another 30% drop in the vix.
Today is also the 5th up day in a row. 6 consecutive up days are rare. However, we might get a red day, but it will likely be small.
Quote from bigsnack:
If price makes new highs, and does not make a new high TICK of the day, it is a statistical assumption that price will keep making new highs until a new high TICK gets printed.
Interesting B, so from this assumption it follows that the high or low of the day will be accompanied, generally, by the high or low TICK of the day?
so we need a print higher than 1012?Quote from bigsnack:
What's up everyone?
no -600 TICKs to be seen. There will not be a direction change IMO until we get one. If price makes new highs, and does not make a new high TICK of the day, it is a statistical assumption that price will keep making new highs until a new high TICK gets printed.
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Quote from ammo:
so we need a print higher than 1012?
Ammo / Josh,
That's correct. Based on stats, it's safer to assume that we're gonna need to print higher than 1012 before we see more selling. Either that or a defined close below-600. Anything in between (divergence, whatever) can be viewed as fuel for another run up.
This behavior can often lead into the following day as well.
Quote from bigsnack:
Ammo / Josh,
That's correct. Based on stats, it's safer to assume that we're gonna need to print higher than 1012 before we see more selling. Either that or a defined close below-600. Anything in between (divergence, whatever) can be viewed as fuel for another run up.
This behavior can often lead into the following day as well.
Thanks B, I will keep an eye open for this behavior. My high TICK is of course lower than yours btw, 917.
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