Nice call, peksoros?
This thread surpased 5,000,000 views today fwiw.
This thread surpased 5,000,000 views today fwiw.
ES Journal Archive (2006 - 2008)
- Thread starter Buy1Sell2
- Start date
- Status
exit 1/2 899, holding balance.
Should push to lower end of recent range before fomc next week, don't know if today was high big pa looks convincing.
Should push to lower end of recent range before fomc next week, don't know if today was high big pa looks convincing.
Sorry - it was just a joke...
See if you can make any sense out of this.
<img src="http://www.elitetrader.com/vb/attachment.php?s=&postid=2211897" height="600" width="800">
Click to enlarge
<img src="http://www.elitetrader.com/vb/attachment.php?s=&postid=2211897" height="600" width="800">
Click to enlarge
Well, thank you everyone, I do it for the applause and for the kids, not for the money. 
Anyway, as I mentioned earlier today was a delayed ADU, going 1 hour behind the usual timeline. Once you figure out the delay (you push the real top backward to the 10 am line), you just adjust the time and play it accordingly. There was a danger of melting down /gapclose once the descending triangle broke down at 13:30, but it quickly recovered. After that you just had to stay long until the usual topping time of 15:30-45. Kind of interesting that this part went by the normal timeline.
For the week, I was actually wrong about the upper BB on the daily chart. The 918-920 level was correct, that was the same level we bounced back mid-November, the dragon failure point, from where I counted my 920-160=760 as a low prediction. But the upper BB is actually higher, around 945 right now. BBs keep moving according to the market's movement, and when I try to project a few days in advance I have to guesstimate.
Anyhow, I don't expect the market to run away from this giant gap, at 880, so I say we close it by Wendesday's close before/if we go higher. The SMA line should provide resistance, currently around 870. (but expected to move higher)
It is possible tomorrow we get a sideways consolidation day as it is usual after a big rally (plus it is a T day) and we only go down to close the gap on Wendesday.
P.S.: If futures go into the green overnight, it should be shorted because of the 2nd gap rule...
Anyway, as I mentioned earlier today was a delayed ADU, going 1 hour behind the usual timeline. Once you figure out the delay (you push the real top backward to the 10 am line), you just adjust the time and play it accordingly. There was a danger of melting down /gapclose once the descending triangle broke down at 13:30, but it quickly recovered. After that you just had to stay long until the usual topping time of 15:30-45. Kind of interesting that this part went by the normal timeline.
For the week, I was actually wrong about the upper BB on the daily chart. The 918-920 level was correct, that was the same level we bounced back mid-November, the dragon failure point, from where I counted my 920-160=760 as a low prediction. But the upper BB is actually higher, around 945 right now. BBs keep moving according to the market's movement, and when I try to project a few days in advance I have to guesstimate.
Anyhow, I don't expect the market to run away from this giant gap, at 880, so I say we close it by Wendesday's close before/if we go higher. The SMA line should provide resistance, currently around 870. (but expected to move higher)
It is possible tomorrow we get a sideways consolidation day as it is usual after a big rally (plus it is a T day) and we only go down to close the gap on Wendesday.
P.S.: If futures go into the green overnight, it should be shorted because of the 2nd gap rule...
Pek,
Congratulations! You definitely nail it these last several days.
(Was not there after 3:30 pm ... so a bit late.)
I used to use a lot of price derived indicators and your work is good as you really use them exactly as is.
Keep that coming!
Congratulations! You definitely nail it these last several days.
(Was not there after 3:30 pm ... so a bit late.)
I used to use a lot of price derived indicators and your work is good as you really use them exactly as is.
Keep that coming!
- Status