S/R Emini Journal
- Thread starter 4re
- Start date
- Status
They're just using today to off-load (sell) their gains to the johnny-come-to-the-party-lates (at least, looking at the internals, that's my explanation).
There's actually a nice divegent short setting up even as we blog ... too bad I don't take those divergent trades anymore
.Later,
JJ
Quote from JimmyJam:
They're just using today to off-load (sell) their gains to the johnny-come-to-the-party-lates (at least, looking at the internals, that's my explanation).
There's actually a nice divegent short setting up even as we blog ... too bad I don't take those divergent trades anymore
Later,
JJ
I sure wish they would really off loaded it today. They are just playing around and determined to keep today an even day. They need to foctor in the the rising oil prices and then they'll sell it off.
I've traded a hell of a lot of breakouts following WRBs so far and backtested loads more. There is a med/high probability of ES not retracing at all after such a WRB, of course I am only referring to immediate price action following a WRB, in this case that would be on a daily chart.
One only has to make some quick comparisons of yesterdays WRB to other ones, what is the ratio of breakouts of the closing price to pullbacks?
I was actually expecting some follow through today. I think if we could have closed yesterday above 1284 the odds of follow through would have been better. I agree with your assessment of reversals after WRB but here are a few things to look at also. Based on the daily chart.
1. This morning price bounced off of the upper BB
2. Price just about touched the 60 day EMA
3. Nice inverted hammer candle today with decent volume
Any one of those things signal reversal but all three looks to be pretty strong. I guess we'll see. Today I was just biased and hopefull because I still have some puts out there on the Q's usually I don't care which way it goes as I have a long and short set up ready to go.
In short I need it to tank, man....Just let me have this one thing.
4re
Quote from 4re:
In short I need it to tank, man....Just let me have this one thing.
4re
ROFLMAO
!The TRIN said, "sell" but the VXO said "no worries", so here we go a nice consolidation day where only the scalpers get paid.
But when those two LINE-UP ... BIM BAM BOOM! ... the thought of it just makes my mouth water!
Quote from JimmyJam:
it's taken a looooooooooooong time, and I didn't know if I'd actually make here, but this is beginning to be fun!
$
Have a great weekend.
Later,
JJ
Making money is always fun but I like to have fun while I am making money. A man can go stir crazy looking at charts and getting tense all day so I find ways so that this doesn't happen.
Glad you are having fun to
- Status