what was wrong with a short at 10:20 when the smell was in the air ?
ES Journal Archive (2006 - 2008)
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what was wrong with a short at 10:20 when the smell was in the air ?
They got it on that spike but I got back in for the reversal.
It is the nature of markets to make repeated attempts at highs and lows especially significant ones like contract highs and lows.
The more times a market bounces against one of these , the less likely it is to break through. Doesn't mean it doesn't happen--just makes it less likely.
3 minute chart has signalled a short here at 1319.50.--could be that three minute chart is ready for whipsawing.
The more times a market bounces against one of these , the less likely it is to break through. Doesn't mean it doesn't happen--just makes it less likely.
3 minute chart has signalled a short here at 1319.50.--could be that three minute chart is ready for whipsawing.
Buy signal generated at 1320.25 on the 3 minute chart. 12 minute still bearish. As you can see the three minute is much more prone to whipsaws and falsies. However, it has a plus--it catches the moves much earlier than the 12. Out for a bit--we'll go with the 12 since I'll be away from screen for a while.
I am calling it a day, but I foresee chop chop chop, perhaps a move to 1317 as the gap gets closed.
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