GordonTheGekko
Guest
Besides the France downgrade and Apple lowerance (such a word?), Citi and S&P are defending them.
Looks like a bull day here until 4p set boys!
Looks like a bull day here until 4p set boys!
ES Journal Archive (2011)
- Thread starter Buy1Sell2
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Of course you would expect a spike at the high or low of the day, regardless of whether there is to be continuation or reversal. The key is the range of the bar. Effort vs. result. In this case, large effort, little result, compared to the previous 5 minutes of activity.
http://screencast.com/t/XocBH0MC1cSs
Further, don`t forget the head and shoulders formation which is a classic distribution pattern.
That was what formed yesterday, but I`m sure you all saw that in advance.
The thing with those patterns is that quite often price will rally strongly and people are salivating about new highs for the day and what not, only to be surprised when price breaks and trades 20 points lower instead.
Not saying we will see it today, just saying.
That was what formed yesterday, but I`m sure you all saw that in advance.
The thing with those patterns is that quite often price will rally strongly and people are salivating about new highs for the day and what not, only to be surprised when price breaks and trades 20 points lower instead.
Not saying we will see it today, just saying.
LF, it sounds like you are using the first 30min range as the opening range, am I correct? I use the first hour of trading instead.
Anyone can show me a level around 32 in ES? That nasty pullback in ES shortly after 1230 stopped in that area but I cant really see anything there...30 was the level I had been eyeing
Anyone can show me a level around 32 in ES? That nasty pullback in ES shortly after 1230 stopped in that area but I cant really see anything there...30 was the level I had been eyeing
mentioned this the other day, i sold a nip thinking it was res,we didn't get a vol spike and pulled back a point and sat there,then it went higher,said when you sell res and it doesnt pull back,it's probably not res,the vol spike in an up move tells you that you found a nest of offers,doesn't have to turn there but more often then not it does
Actually I know of one person that saw it 10 days ago or more, and everybody laughed at him when he posted it.Quote from Laissez Faire:
Further, don`t forget the head and shoulders formation which is a classic distribution pattern.
That was what formed yesterday, but I`m sure you all saw that in advance.
Quote from fseitun:
LF, it sounds like you are using the first 30min range as the opening range, am I correct? I use the first hour of trading instead.
Anyone can show me a level around 32 in ES? That nasty pullback in ES shortly after 1230 stopped in that area but I cant really see anything there...30 was the level I had been eyeing
I look at both 30 and 60 (initial balance).
Frequently, either the high/low is the same on both as is the case today for the high, but I find that the 30 minute is very valuable to watch. For instance, the low was resistance earlier today.
GordonTheGekko
Guest
I'm totally uncertain about the reversal.
change of heart guys?
change of heart guys?
Quote from PushPull:
Actually I know of one person that saw it 10 days ago or more, and everybody laughed at him when he posted it.
The problem with cryptic calls is that they are always right, even when they`re wrong.
So, another H&S today or what?
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