That was a great setup, too bad I was busy typing instead of watching the chart...LOL!! :eek:
ES Journal Archive (2011)
- Thread starter Buy1Sell2
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That was a great setup, too bad I was busy typing instead of watching the chart...LOL!! :eek:
Give it a study and make your own conclusions. You`ll be amazed.
Nothing to do with Fibonnaci though.
The premise is that the 50% level is a line in the sand between bulls and bears. Very simple reasoning actually.
Expanding on the 50% theory, we are now currently trading above it and finding support, so it looks like the bulls may be gaining the upper hand. We also found support at Monday`s high on the first attempt. Another positive for the bulls.
Context is however always important and the current opening range is rather small, so I myself would like us to trade outside it before committing to anything as it is a little unclear at this point where we will go.
Immediate targets above would be 27 and 30.
Context is however always important and the current opening range is rather small, so I myself would like us to trade outside it before committing to anything as it is a little unclear at this point where we will go.
Immediate targets above would be 27 and 30.
TICK is also looking stronger and NQ got a gap above.
Another positive.
Made a one tick higher high on that last push, but immediately reversed. Time validates price, right?
Currently just a fake breakout.
Nimble traders may enter on the pullback. Personally, I think I`ll give up a few ticks and get confirmation after we have traded above with some confidence.
Another positive.
Made a one tick higher high on that last push, but immediately reversed. Time validates price, right?
Currently just a fake breakout.
Nimble traders may enter on the pullback. Personally, I think I`ll give up a few ticks and get confirmation after we have traded above with some confidence.
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