covered at 23.25, there is that upward sucking price action from the past.
ES Journal Archive (2006 - 2008)
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short 1 at 24.50, point of inflection on 60 min chart,
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As mentioned before, I was asked not post in this thread any longer
The low of the last 5 min bar yesterday was 1519.75
The high of the first opening 5 min bar was 1514.50
the opening gap is the difference between the two (5.25 pts)
halfway between is 1517.125....round it up or down as you see fit and trade it.
or
you can use the Trin, Vixo, Compx, all the Indices, and the Bank Index and wait for the Queen of England and Jimmy Jam to confirm your entry. Personally I will stick with my method.
Here is my chart. This is not high level math folks.
Good luck
Steve
covered at 24, bad trade, no exit or stop plan, cover and rethink it.
Afternoon selloff coming? Unloading inventory as someone else posted.
its a clear signal to buy, they ran stops and violated the downward trendy. But as you can see resistance at 25 and only a hop away from testing highs.
But I'm not going to be net long at these levels since its the middle of the zone. And it could go either way. The insti's bid it up to unload what they bought on the close yesterday.
So the key is what they chose to do from here on. Since inventory was marked down on the open, and its neutral now.
The violation of the downward trendy occurred at 1520. The long side of the trade would be 1520 long stop loss 1516. Take profit at 1524.
But I'm not going to be net long at these levels since its the middle of the zone. And it could go either way. The insti's bid it up to unload what they bought on the close yesterday.
So the key is what they chose to do from here on. Since inventory was marked down on the open, and its neutral now.
The violation of the downward trendy occurred at 1520. The long side of the trade would be 1520 long stop loss 1516. Take profit at 1524.
Oh man, this looks like it could be a good short opportunity here at 1524, but VIX keeps digging lower along with TRIN... definately not bearish... tough decisions haha...
chasing markets works very few times especially if your stops are small.
That would fuck the most people. It has crammed the longs against the hod in a flat market for a long time this am.
I bet it craters hard.
But I am flat. Silly to trade through fomc minutes.
John
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