Inventory Grab Alert 4/30/09!
- Thread starter AMT4SWA
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Great trading so far today and I will answer questions later after the close. I hope you saw the perfect SELL set-up as price traded up to make a higher high on the day (broke above the previous intraday high at 894.50) to the 896.00 level. We had a perfect delta divergence SHORT set-up that was followed by another SHORT opportunity with the lower 895.00 touch high, with even lower cumulative delta again......TEXTBOOK set up there.
Selling 895.00 and above on the first cumulative delta divergence was the first good entry point........selling 894.00 or above on the lower high 895.00 touch was your second very good shorting opportunity. I had position entries at 895.00 on up and have so far hit my initial scale out targets at 890.00
I have my next targets set at 887.00 (todays breakout level from a previous 4/30/09 high area) and then at 880.00 ......any selling that would carry price below 880.00 I will then evaluate where to place additional targets.
Selling 895.00 and above on the first cumulative delta divergence was the first good entry point........selling 894.00 or above on the lower high 895.00 touch was your second very good shorting opportunity. I had position entries at 895.00 on up and have so far hit my initial scale out targets at 890.00
I have my next targets set at 887.00 (todays breakout level from a previous 4/30/09 high area) and then at 880.00 ......any selling that would carry price below 880.00 I will then evaluate where to place additional targets.
Trade set ups............. http://www.charthub.com/images/2009/05/04/ES.png
Based on my interpretation of the most recent discussions this looks like a good short. New intraday high into initiated selling zone, with much lower cumulative delta. Entry price is 895.25. Stop 898.25. Target LOD.
Great commentary AMT! I'm glad you have decided to post some charts, as they provide a great visual of what you've referenced all along. I'm on break at LAX right now... still waiting for you to come do some touch-n-go's haha!!
Yes....thanks for the great charts.
OK......here was entries from today AFTER the market made the initial 896.00 HOD around 10:19 a.m. CST......there were several short entries and one long entry............
http://www.charthub.com/images/2009/05/04/ES_2.png
As we traded into the close today, price did make a run to the 905.00 level I had targeted as potential resistance.....I started to sell at the very first sign of initiated selling shown by the delta as price traded near the 905's............
http://www.charthub.com/images/2009/05/04/ES_3.png
First targets at 899.50 and next targets at 894.50.....I will look to sell any trading above my initial 904.50 entry in the AH session.
http://www.charthub.com/images/2009/05/04/ES_2.png
As we traded into the close today, price did make a run to the 905.00 level I had targeted as potential resistance.....I started to sell at the very first sign of initiated selling shown by the delta as price traded near the 905's............
http://www.charthub.com/images/2009/05/04/ES_3.png
First targets at 899.50 and next targets at 894.50.....I will look to sell any trading above my initial 904.50 entry in the AH session.
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