ES Journal - 2014

[ammo]

spy open int

 

[ammo]

Thanks Ammo.

I see, so you look for confluence. In theory the further it heads up toward the nip the tougher it gets.?

just expect sellers on the way up at a nip cleave or ledge, never know how many there or how strong the buyer is, 2 armies meet is all you know, the widest nip and deepest cleav are best bets for reversals

 

[redbox]

And were at 50% retrace, so we should expect some wiggling here.

 

[redbox]

just expect sellers on the way up at a nip cleave or ledge, never know how many there or how strong the buyer is, 2 armies meet is all you know, the widest nip and deepest cleav are best bets for reversals

Thanks, do you always look for reversals or do you ever play the breakouts?

 

[ammo]

Edit: And where would your stop be at 54?

Thanks[/quote] stop is dependent on the market,see what happens , i'm not a scalper , if this area doesnt hold then the 53 5-57 and 59-60 cash is next stop if i see it heading there,will cover and not take the ride, wait to short there

 

[ammo]

spx at a cleave
edit sh 48 5

out 48 25

 

[ammo]

Thanks, do you always look for reversals or do you ever play the breakouts?

i short at res areas, so reversals

 

[redbox]

Edit: And where would your stop be at 54?

Thanks

stop is dependent on the market,see what happens , i'm not a scalper , if this area doesnt hold then the 53 5-57 and 59-60 cash is next stop if i see it heading there,will cover and not take the ride, wait to short there[/quote]

Great, good stuff. So statistically it must reverse more often than it just marches on.

Thanks

 

[redbox]

i short at res areas, so reversals

Short only? No Longs?

 

[ammo]

Thanks Ammo.

I see, so you look for confluence. In theory the further it heads up toward the nip the tougher it gets.?

you are meeting res areas on smaller time frames, going thru them to larger time frames res, shows strength, all that sinks in as to be a strong seller , a weak seller or wait for weakness, if you are watching the uvol dvol chart its strong, but not as strong as a trend day, if you start watching it ,it only makes 4 patterns, easy indicator