http://www.imf.org/external/pubs/ft/gfsr/2012/02/pdf/text.pdf did not read the thing but page 4 and 5 were sounding pretty dire
ES Journal - 2012
- Thread starter Buy1Sell2
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economic reports that ES traders will be looking at are beige book..in after 1pm.. and a fed official speaking later in the day(minor).
Will be looking for signals 8AM 11AM NOON. Signals are based off 240 tic chart, and 200 XMA slapped on.
If price is over 200 XMA at 8AM, its a false signal.
If price is under 200 XMA at 8AM, its a false signal.
So 8AM represents contrarian indication. 11AM is not contrarian. Noon is contrarian.
Signals:
8AM - price is over 200 xma - sell - zone 1436-37
Will be looking for signals 8AM 11AM NOON. Signals are based off 240 tic chart, and 200 XMA slapped on.
If price is over 200 XMA at 8AM, its a false signal.
If price is under 200 XMA at 8AM, its a false signal.
So 8AM represents contrarian indication. 11AM is not contrarian. Noon is contrarian.
Signals:
8AM - price is over 200 xma - sell - zone 1436-37
closes out trades end of the day or you could use either time point 11 or noon to exit out at the market based on the signal. 1600 being the end of the day.. since 15 minutes are still left.
it could chop in a 30 point range to shake of shorts that are playing the fiscal cliff short trade.
everyone and their mother is short hoping for 1414-18 to exit.
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