S/R Emini Journal

[rverheyen]

Well, I learned a lot today.

I still don't see wat you guys are seeing.

Great info 5P. But I don't understand half of it so it's hard to keep it into account when I play it using my signals.

Don't feel sorry or appologies, It's my trade and my trade alone!

Keep up the good work (and posts)!

I'll have to investigate that Delta thing, looks great (in your hands).

Quote from 5Pillars:

I tried to give a "heads up" warning about that price area earlier.....sorry.

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5Pillars


Registered: May 2006
Posts: 778


09-14-06 12:24 PM



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Quote from romik:

nice one, thanks. But wouldn't you say 10k in comparison with over 500k already traded does not really say much.
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No it is showing that we have a lack of interest and no "accumulation" yet ----- more like overall equilibrium with sideways range chop at this point of the day.

Also, there is a bunch of sellers between 1329.00 and 1330.00 that we would need to get through to get a real push today.


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[5Pillars]

Quote from rverheyen:

Well, I learned a lot today.

I still don't see wat you guys are seeing.

Great info 5P. But I don't understand half of it so it's hard to keep it into account when I play it using my signals.

Don't feel sorry or appologies, It's my trade and my trade alone!

Keep up the good work (and posts)!

I'll have to investigate that Delta thing, looks great (in your hands).

It is hard (low probability) to buy a specific breakout price level when there is not enough initiated buying at that level to carry through zones of holding SHORT positions (from todays 07:30 CST news release).....that is why I said that 29 to 30 would need to be busted good to have a potential breakout today (as I knew there was some post by someone here talking about buying the 28.75 level....I was trying to be nice and give a hint that 28.75 may not be an optimal entry location).

 

[romik]

Quote from 5Pillars:

It is hard (low probability) to buy a specific breakout price level when there is not enough initiated buying at that level to carry through zones of holding SHORT positions (from todays 07:30 CST news release).....that is why I said that 29 to 30 would need to be busted good to have a potential breakout today (as I knew there was some post by someone here talking about buying the 28.75 level....I was trying to be nice and give them a hint).

I see one problem here - how do you determine that short positions have been set @ 07.30 CST? Can they be previous longs closed, is that not a possibility?

 

[ndjeff7]

I really enjoy reading the posts by 5Pillars on this thread since I also use market delta as a crutch in my trading. I try to keep it simple with the delta's and just really try to pay attention to what delta is doing around my S/R zones on my charts.

The best use of it today that I saw was in the first half hour when the YM was in the 11590-11595 area which was a support zone. The delta's were all heavily positive when price traded down there so it was a pretty low-risk long setup. I'm looking forward to hearing more from 5Pillars and everyone else!

 

[BoyBrutus]

Quote from 5Pillars:

there is not enough initiated buying at that level to carry through zones of holding SHORT positions (from todays 07:30 CST news release).....

What do you mean by initiated buying?

Thanks

 

[5Pillars]

Quote from romik:

I see one problem here - how do you determine that short positions have been set @ 07.30 CST? Can they be previous longs closed, is that not a possibility?

Oh...today there were a fresh set of SHORT's that hit the market in that zone when the a.m news was released.....so I had that as a mental note today.

 

[5Pillars]

Quote from ndjeff7:

I really enjoy reading the posts by 5Pillars on this thread since I also use market delta as a crutch in my trading. I try to keep it simple with the delta's and just really try to pay attention to what delta is doing around my S/R zones on my charts.

The best use of it today that I saw was in the first half hour when the YM was in the 11590-11595 area which was a support zone. The delta's were all heavily positive when price traded down there so it was a pretty low-risk long setup. I'm looking forward to hearing more from 5Pillars and everyone else!

The "delta" is my wheelchair.

 

[romik]

Quote from 5Pillars:

Oh...today there were a fresh set of SHORT's that hit the market in that zone when the a.m news was released.....so I had that as a mental note today.

I still don't get it, looking at 1 lot sold, how do you know whether it is a short or a closed long position?

 

[5Pillars]

Quote from BoyBrutus:

What do you mean by initiated buying?

Thanks

New heavy buying hitting right at the resistance zone that is mixed with then forced SHORT covering from holding SHORT's at that zone...............you could say some of the "initiated" buying was involuntary at that point.....LOL!

 

[BoyBrutus]

Quote from BoyBrutus:

Rebalancing can cause a move down, from now to close with an equal bounce at 1600 although it may start slightly earlier. Will be interesting to watch if there is any movement.

I think it needs some sizable changes to the index, like when GOOG was added or the Russell 2000 rebaancing in June 30.