ES Journal - 2012

Status
Not open for further replies.
Good chance we could see lows in the 1330-1350 area (possibly next week) and then more upside again. Will have to wait and see... You gotta love it though,....hands down, they have this game wired.
 
Quote from sttrader:

Good chance we could see lows in the 1330-1350 area (possibly next week) and then more upside again. Will have to wait and see... You gotta love it though,....hands down, they have this game wired.
More...

Agreed. 1350 is the minimum target now, possibly even below. Shorting at market open on Monday will prove to be a golden short.
 
Quote from piezoe:

There is a little unfilled gap 3/12 to 3/13 that's been left unfilled. A drop to the 1365 area would fill that gap.
More...


Pardon me, but I would like to challenge you and everyone else on this gap fill hypothesis for gaps that have been left few weeks or months behind. I have not tested it, but I cannot imagine any special reason for such gaps to fill or even any significant to such gaps. In my opinion they are insignificant and whether they fill or not after few months when market revisits that price area has to be pure randomness and co-incidence rather than any fundamentally true market behavior.

Please feel free to prove me wrong by stats/data or non-mathematically by stating some market behavior rationale. Cheers.
 
Quote from gmst:

Pardon me, but I would like to challenge you and everyone else on this gap fill hypothesis for gaps that have been left few weeks or months behind. I have not tested it, but I cannot imagine any special reason for such gaps to fill or even any significant to such gaps. In my opinion they are insignificant and whether they fill or not after few months when market revisits that price area has to be pure randomness and co-incidence rather than any fundamentally true market behavior.

Please feel free to prove me wrong by stats/data or non-mathematically by stating some market behavior rationale. Cheers.
More...

I'm perfectly happy with your viewpoint on this, which in the main I share.. It is just that in my experience even when these long standing gaps fill there is usually a little market hesitation at that point and perhaps even a minor retrace before moving on. The early close in the ES today was "co-inciden[tally]" about R10 above what would be the gap fill at ~1365. No big deal. It was my pleasure to call your attention to it, that's all. Enjoy the long weekend. :)
 
thats also a nip on the 6 mo chart,meaning a heavily traded area,the gap fill comes in this instance when there is support just below it so more buyers there than the few who were filled in the gap,gap fills or vacuum down to supp
 

Attachments

Quote from piezoe:

I'm perfectly happy with your viewpoint on this, which in the main I share.. It is just that in my experience even when these long standing gaps fill there is usually a little market hesitation at that point and perhaps even a minor retrace before moving on. The early close in the ES today was "co-inciden[tally]" about R10 above what would be the gap fill at ~1365. No big deal. It was my pleasure to call your attention to it, that's all. Enjoy the long weekend. :)
More...

No problem mate, all these different viewpoints and challenging/counter-challenging/refuting them are essential for one's skill and logic development. Appreciate your pointing it out for me :)

Have a nice long weekend!
 
Status
Not open for further replies.
Back
Top