ES Journal Archive (2011)
- Thread starter Buy1Sell2
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Alert! Alert!
1 point lower high on this last push.
Not saying anything, just saying.
Actually, these days are the ones that usually screw me royally, so I`m considering taking the day off from here. What if we chop around in a 5 point range for the rest of the day? Is that worth your while? What if the move for the day already happened?
Anyone seeing this action clearly? :eek:
1 point lower high on this last push.
Not saying anything, just saying.
Actually, these days are the ones that usually screw me royally, so I`m considering taking the day off from here. What if we chop around in a 5 point range for the rest of the day? Is that worth your while? What if the move for the day already happened?
Anyone seeing this action clearly? :eek:
Quote from Laissez Faire:
Alert! Alert!
1 point lower high on this last push.
Not saying anything, just saying.
Actually, these days are the ones that usually screw me royally, so I`m considering taking the day off from here. What if we chop around in a 5 point range for the rest of the day? Is that worth your while? What if the move for the day already happened?
Anyone seeing this action clearly? :eek:
question: is the last push over, or is it still continuing in the sense that price is taking a pause here before bursting higher ?
That may depend on how you view price, but as I view it the push was completed at 64. See how TICK pulled back at that level. What we don`t know is whether price will pull back, before making another push up or if the top is in. And even if the top is in, what is the downside target? May still not be worth the risk.
I`m always watchful for a top when I see price showing weakness at a recent prior high like this one.
But like been said already, this is low volume trading and a bank holiday. Price action that easily churns your account if you have a need to be in on the action.
Fortunately, I seem to be getting over that phase.
Good point. In my opinion yes and no (damn! I should be on CNBC or something!
)I think in days like these, there's less active participation, but that the resting orders are either there or ready to be introduced (by bots, backup traders, whatever).
But I see what you're saying.
(I think these days fast become bored traders with no weekend plan trading against other bored traders)
When people talk about delta, it's very common to use the term "net buying" or "net selling" ... if the market is tanking and people say "there is heavy selling going on," don't you think it's implied that they're talking about market sell orders? And don't you think it's implied that there are people being filled and taking opposing positions on those orders? The market is being MOVED by the market orders, and that's what delta as I have it in my chart measures. If you want to split hairs over commonly accepted terminology, go find another avenue to do so my friend.
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