ES Journal Archive (2011)

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when you get a crossover,sellers leading ,buyers leading,sellers leading,it suggests lack of momo in either camp,usually turns to chop and you can sell highs and buy lows back to the mean,a small percentage,maybe 25%,will turn into a latent trend day
 

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Quote from macho grande:

Ok. thanks. I can see that. However, When i look at that chart i see a bull trap
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Well, charts can become a rorscharch test all too easily. But a setup like this does give you pretty hard-and-fast criteria for determining whether or not it's a trap:

Either support holds, or it doesn't.
 
1st 30 minutes.

There is also the initial balance being the first 60 minutes.

Like yesterday, I think that if we trade as far down as 96,50, I would have a more neutral or even bearish bias.

1199 was resistance this morning. It should now act as support. Sometimes respected to the tick level, other times being overshot and acting more as a zone. As simple as that. :)
 
Quote from Laissez Faire:

Pulled back to opening range high there @ 1199. A potential great low risk long entry, but it seems we are entering chop hour early, so I certainly did not take it.
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:mad:

Archived for future reference. :) :p

Disclaimer: I was more uncertain about the exit, which is just as important when planning a trade. Thus it was OKAY not to take it.
 
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