ES Journal Archive (2006 - 2008)
- Thread starter Buy1Sell2
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H and S brewing
resistance cluster 1 = 1432
resistance cluster 2 = 1440 (60 minute trendline)
resistance cluster 3 = 1450 (minor trendline)
resistance cluster 4 = 1490
1468 is a minor mem number from previous drop. Ands that where we are now.
Basically order blocks at the offer sit at these resistance points from combination retail/hedge funds/ and stops are a few points away.
As each cluster breaks, price generally heads to the next cluster. And you will see price hitting resistance as indicators shift at each cluster. When you don't see indicators shifting, it implies the next cluster will be gunned.
So it took a great deal of money to bust the clusters. And each cluster acts as fuel thats ignited.
Main intraday patterns are at a cluster break, offers immediately come in to offer it back down.
But this time, the orderflow didn't come back in, and futures were horded by the instigators. And the intraday participants needed to buy it from each other instead of the instigators fueling it higher, and at the next cluster same thing. Money was used to break and horde the futures pulling them out of the market, in effect cornering the market intraday.
Hope the explanation helps.
resistance cluster 2 = 1440 (60 minute trendline)
resistance cluster 3 = 1450 (minor trendline)
resistance cluster 4 = 1490
1468 is a minor mem number from previous drop. Ands that where we are now.
Basically order blocks at the offer sit at these resistance points from combination retail/hedge funds/ and stops are a few points away.
As each cluster breaks, price generally heads to the next cluster. And you will see price hitting resistance as indicators shift at each cluster. When you don't see indicators shifting, it implies the next cluster will be gunned.
So it took a great deal of money to bust the clusters. And each cluster acts as fuel thats ignited.
Main intraday patterns are at a cluster break, offers immediately come in to offer it back down.
But this time, the orderflow didn't come back in, and futures were horded by the instigators. And the intraday participants needed to buy it from each other instead of the instigators fueling it higher, and at the next cluster same thing. Money was used to break and horde the futures pulling them out of the market, in effect cornering the market intraday.
Hope the explanation helps.
you can calculate what size was being used, it took about 15,000 contracts to break the 60 minute trendline at 8:00 am.
someone asked me about the euro...I said 137, were at 148....so..things are more dollar bearish..yen... 105...
Previous swing high: 1496.50 (made on 11/14).
All-time high: December contract: 1586.75
Recent low: 1406.75
50% retracement: HIGH - LOW = 180/2
90 + 1406.75 = 1496.75
RESISTANCE #1: 1496.75 (or is it 1496.50?)? Same diff.
All-time high: December contract: 1586.75
Recent low: 1406.75
50% retracement: HIGH - LOW = 180/2
90 + 1406.75 = 1496.75
RESISTANCE #1: 1496.75 (or is it 1496.50?)? Same diff.
Upside gap is at 1525; high of day (11/6) was 1526.00.
All-time high: December contract: 1586.75
Recent low: 1406.75
2/3 retracement: HIGH - LOW = (180/3) X 2 = 120
120 + 1406.75 = 1526.75
RESISTANCE #2: 1526.75 (or is it 1526?)? Same diff.
And, yes, I have stuff to sell at those levels that I bought lower. I ain't no armchair trader!
All-time high: December contract: 1586.75
Recent low: 1406.75
2/3 retracement: HIGH - LOW = (180/3) X 2 = 120
120 + 1406.75 = 1526.75
RESISTANCE #2: 1526.75 (or is it 1526?)? Same diff.
And, yes, I have stuff to sell at those levels that I bought lower. I ain't no armchair trader!
.... ok ok ok ......
.... so when you cross an obstacle.... you want to see strength right ?
.... not weakness.....
.... so maybe there is some strength here....
... the obstacle is the long-term daily trend line.....
...when spx crossed above it.... rsi went higher..... not lower.....
.... just a thought....
.... so when you cross an obstacle.... you want to see strength right ?
.... not weakness.....
.... so maybe there is some strength here....
... the obstacle is the long-term daily trend line.....
...when spx crossed above it.... rsi went higher..... not lower.....
.... just a thought....
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