I wish, I went short yesterday after it popped back up seeing resistance just over 94.00. QM got sandwhiched between S and R levels so I was hoping I was going in near the high of the days yesterday. It did bump to 94.37 or so but I was not going to bail unless it closed at the highs. If inventory comes out strong I would like to get out today.
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ES Journal Archive (2006 - 2008)
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I wish, I went short yesterday after it popped back up seeing resistance just over 94.00. QM got sandwhiched between S and R levels so I was hoping I was going in near the high of the days yesterday. It did bump to 94.37 or so but I was not going to bail unless it closed at the highs. If inventory comes out strong I would like to get out today.
Quote from atticus:
What's the significance of 1496?
http://www.elitetrader.com/vb/showthread.php?s=&postid=1678327#post1678327
Quote from Jaxon:
not sure about 96, but 1492 is a number that rings a bell (for obvious reasons - for most of us, this became a familiar number at an early age) but seriously, we seem to do a lot of work around 1492 going back several months.
Volente was making the case for high OI option strikes. Unfortunately for him, he keeps moving the bar. First it was the SPY 152-153, now it's ES 1496 [SPY ~149.50]. Which is it?
1496.50 (recent swing high from yesterday's gap up) MINUS 1439.50 (swing low) = 57
1465.25 (overnight low) PLUS 57 = 1522.25 (which happens to be pretty close to resistance levels--Fed-induced euphoria from a week and a half ago).
If ES hits 1460 (today's low, minus a few points so as to avoid being stopped out unnecessarily), then it can be said that I am wrong.
1465.25 (overnight low) PLUS 57 = 1522.25 (which happens to be pretty close to resistance levels--Fed-induced euphoria from a week and a half ago).
If ES hits 1460 (today's low, minus a few points so as to avoid being stopped out unnecessarily), then it can be said that I am wrong.
Quote from smilingsynic:
1496.50 (recent swing high from yesterday's gap up) MINUS 1439.50 (swing low) = 57
1465.25 (overnight low) PLUS 57 = 1522.25 (which happens to be pretty close to resistance levels--Fed-induced euphoria from a week and a half ago).
If ES hits 1460 (today's low, minus a few points so as to avoid being stopped out unnecessarily), then it can be said that I am wrong.
I'm working an SPX DNT, so that will help, thanks.
Quote from apex82:
I havent posted and visually shown my reason for a trade in awhile so I thought I would show this oil trade.
Reason for trade: completed 5 wave move at 78.6 retrace of higher level swing.
Confirming factors: 2 overlapping wedges, one of higher degree(strong pattern at tops), 50x200 bowtie on the 60min, test of higher level trendline, 60min dptl oct 30-nov3,test of major BOB's
In my trading plan I must have a MINIMUM of 3 cf's in every trade I take that way I always have the probablities highly stacked in my favour.
This setup has 8 so it would be about 7 out of 10 on a ranking scale.
First target has been hit on this trade here is an update on the PA
Before...
http://elitetrader.com/vb/attachment.php?s=&postid=1679336
After....
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