ES Journal Archive (2011)
- Thread starter Buy1Sell2
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Problem with fibs is just like with trendlines -- both can be useful, but so many points to draw from. After I read what you wrote, my instinct on the chart was to draw from the twice-rejected 1200 area, it was a decent swing point. From there, it turns out 1180 is the 61%. Several places look like they are going to be shortable.
I do not see a gap is the Globex ES on October 7, 2011 on my charts. The only recent gap on the Globex ES I see is the November 18 gap down which has not been filled.
Like a r10 short from 74-76 reaction
You're a bitchy know-it-all prat ain't ya.
Answer: overnight run-up that met resistance last Tuesday on low volume that, until session's close that following Wed, which fueled another run-up directly after the close Wed, grew in volume exponentially.
It's as logical test as any here. Actually, there isn't another long. Really.
I do not see a gap is the Globex ES on October 7, 2011 on my charts. The only recent gap on the Globex ES I see is the November 18 gap down which has not been filled.
96.25 is the midpoint of the opening five-minute bar from 11/21. Take a look at an RTH chart and note how the reaction off that level on the 21st and 22nd played a decisive role in the unfolding story of last week's p.a.
If we clear 96.25, I'll look for the gap from the previous Friday to be filled. If THAT gets filled, well...better not get too far ahead of myself here.
Having said that, what would be REALLY funny is if the p.a. from 11/21-11/25 turns out to be one big island reversal.
Quote from tortoise:
96.25 is the midpoint of the opening five-minute bar from 11/21. Take a look at an RTH chart and note how the reaction off that level on the 21st and 22nd played a decisive role in the unfolding story of last week's p.a.
If we clear 96.25, I'll look for the gap from the previous Friday to be filled. If THAT gets filled, well...better not get too far ahead of myself here.
Having said that, what would be REALLY funny is if the p.a. from 11/21-11/25 turns out to be one big island reversal.
Thanks toroise -- I saw the afternoon high of 96.75 on 11/21, and high of 95.25 on the next day which was in the neighborhood of 96.25, but I didn't see anything to that tick, so I thought perhaps you had something else up your sleeve. I think you use profiles, and thought maybe you were seeing something there... many thanks and will watch for 96.25
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