The Crude Index scalper

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Checking back-in, I see that we went as low as 04. This was almost at the next area of support at 03/02. sorry about not posting earlier before move occured.
On the high note our bounce peaked just shy of last weeks resistance in the 30/31.75 area. Further on the topside there is a fib at 2748 area. Thinking that this may be approached during tonight's session, it seams that price has found some support with the lighter volume. you can see this in the daily bar chart.
But, with the holiday this week, the ES is a little on the thin side, so be aware and take care.
 
Zodiac4u said:
Bounced at 29.75 next area should be 2722.
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I'm curious...do you take trades when you announce a "should be" price area ?

What I mean is that do you take a trade position after imprinting on your thoughts what the next price level will be.

Its something I'm curious about when we as traders or anybody else that maintains a trade journal, diary or whatever are training ourselves to believe something "will occur" just by writing it and then are we sending ourselves "subliminal messages" to take an action just because we wrote it down.

Another way to explain this...if we know we are not going to take any action...we should not write it down in reference to an event that has yet happened. Yet, if we do write it down...we should keep stats on the results for feedback into how we send subliminal messages to ourselves that controls our decision making process.

Something I recently learned from a psycho-therapist and a few months before that from a behaviour finance PhD student (decision making processes involving financial decisions in the markets).

I apologize for the interruption.

wrbtrader
 
wrbtrader said:
I'm curious...do you take trades when you announce a "should be" price area ?

What I mean is that do you take a trade position after imprinting on your thoughts what the next price level will be.

Its something I'm curious about when we as traders or anybody else that maintains a trade journal, diary or whatever are training ourselves to believe something "will occur" just by writing it and then are we sending ourselves "subliminal messages" to take an action just because we wrote it down.

Another way to explain this...if we know we are not going to take any action...we should not write it down in reference to an event that has yet happened. Yet, if we do write it down...we should keep stats on the results for feedback into how we send subliminal messages to ourselves that controls our decision making process.

Something I recently learned from a psycho-therapist and a few months before that from a behaviour finance PhD student (decision making processes involving financial decisions in the markets).

I apologize for the interruption.




wrbtrader
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Thank you for your question, and no need to apologize, But calling out pivot entries, this does not negatively affect my decision making processes. In fact it does the opposite. When price comes near the pivot i zoom in, this focus grounds me to price behavior, during this time i make the decision of stepping into the trade mechanically.


Always turn a negative situation
into a positive situation,
Michael Jordan
 
long Es 16.50 stop 14.25

looking for 10 points.

Out on a -1.25,

Don't like buying below the 200ma, but it was a fib support, was looking for a bounce for at least 10points, could still happen but my target support was breached and i'm passing on any longs until i get a change in price action? Plus I'm done for tonight, my freeking internet has been going on and off, i'm thinking about strapping a couple of m80's to my comcast box. after all its the 4th of July.
 
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