ES Journal Archive (2011)

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With regards to the TICK, I`ve found it useful to see how it reacts at key levels. If you see a strong TICK reversal dumping below zero when approaching a key resistance level, that may mean that it will actually hold as resistance and form a top.

The key is obviously to be aware of this potential in advance and observe it in real time. I was not at my best game today, so I missed the TICK in real time, but I did observe the 50% as a potential reversal although the IHS clouded me.

See how TICK reversed after we tagged the 50% level today. That indicated that the level was sold and probably beyond a mere pullback.

I guess this is similar to when guys read the tape at key levels, a skill I do not possess. Alternatively, watching transacted volume at bid/offer.
 
That was close, Josh. You did expect an immediate reversal off 85, I suppose?

Nice patience on the entry though.

It seems like the buyers finally stepped up now. I guess the 50% level will not hold this time. :)
 
Quote from satchel:

tight entry for a turn up here, long. 1182s must hold. : )
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beautiful cycle turn up, 1189 and printing, going to hold on based on cycle low of day is in, or not : ). peace.
 
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