Covered 666.40.
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The ER2 Trading Journal
- Thread starter trade_4_living
- Start date
ER2 could easily be pushed to 670 or going down hard in the last 40 minutes. Shorts are buying up on every dip to the 20 day MA line. Too many shorts are in the game. What a day today is.
Finally MAs are crossed. I hope it establish a downtrend.
Nope, shorts bought up the MAs again.
If ER2 closes above 666, it'll have a new trading range.
ER2's Elliott Wave chart.
http://tinypic.com/view/?pic=fktyd5
Given a starting point, point 1 and point 2, then point 3, point 4 and point 5 are automatically generated. As you can see today's closing price is on that wave line. ER2 is still in the third wave, this wave could extend to 670, then a dip to 650 on the 4th wave down, the final wave could extend to 670s until Christmas.
Note: modified the original one with the line chart, which is more accurate.
http://tinypic.com/view/?pic=fktyd5
Given a starting point, point 1 and point 2, then point 3, point 4 and point 5 are automatically generated. As you can see today's closing price is on that wave line. ER2 is still in the third wave, this wave could extend to 670, then a dip to 650 on the 4th wave down, the final wave could extend to 670s until Christmas.
Note: modified the original one with the line chart, which is more accurate.
Attachments
Since last week, the same game has been played over and over everday. Especially on ER2, they would either tank it at the open, or gap it up, tank it to 4-5 points until start a big sqeeze on 10:30-11:30 AM. They trap shorts in, then they'll push it up and make a run. This game played over and over everyday, it is even not funny.
Anyway, the pivot: 665.7
Support 664.5 (the low of the day tested for 30 minutes)
First support 664.2 then 664.8 (they wanted to drop to this level, didn't happen).
Resistence 1: 667.8
Resistence 2: 668-668.4
Support 664.5 (the low of the day tested for 30 minutes)
First support 664.2 then 664.8 (they wanted to drop to this level, didn't happen).
Resistence 1: 667.8
Resistence 2: 668-668.4