I think there was also a Failure on the daily below 1150 cash and the height is 80 pts, so 1070 (which is almost the same as the May 6th cash low) here we come!
some set ups do fail...thats why you take trades and also set stops...here is my set-up prior to the one that failed:
"This is a possible trade set-up that has yet to confirm [per price action].
If the ES does not close on or below 1119.25 [looking at a 30M bar] and price rallies to 1146.25, (incredibly likely) Sell Short at 1146.25 and cover at 1119.25. Set your stop at 1155.25.
This move will happen within a 24 hour trading window with continued weakness very possible to 1110.25 and 1101.25. "
Price confirmed that this trade wasn't valid any longer yesterday and then reconfirmed it was valid again after hours...price this morning turned at 1147.25 and took a nose dive...so be careful what you say about people you don't know and who don't post very often...maybe we are all out making serious cash.
Well, we had 23.75, 23.5 and 22.75 each with at least a 3 pts bounce... So you had your chance... (remember, it doesn't say how big the bounce will be)