The Trouble With Scribbles

Two more examples of equilibrium. Note how price (traders) behaves when it leaves these levels.

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Some scribbles I like to draw looking for failures (shorty a break) and failed failures (if the short triggers and fails, I'd usually stop & reverse). Funny a few minutes ago the time was 15:32 EDT. Not much time left to make some hay.
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Edit: Had to scratch that scribble at BE +1 tick.
 
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The books and blogs will say that 1500 is often the time for big moves, which is technically true. The reality, though, is whether or not one wants to hang around for them. I was done by shortly after 1100.
 
dbphoenix said:
The books and blogs will say that 1500 is often the time for big moves, which is technically true. The reality, though, is whether or not one wants to hang around for them. I was done by shortly after 1100.
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At 10:40-45 EDT I exited my short and I was out the rest of the day. I cam back to watch the close, and saw what in past had usually been a nice set-up into the close that is often worth about $300/contract. Today it wasn't to be. From now until the first Fall frost I try to be done no later than noon. The earlier, the better.
 
I agree. Too much else to do outside. Fortunately the big moves are nearly all centered around the moves of the underlying at the open. Once those orders are settled and the direction is taken, there's not much point in hanging around once that move is done. And so often it's done by 1100. Teresa Lo called her approach Done in 90 Minutes.
 
Eddiemorra said:
I like a nice 12hr shift.
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If you can make $1000/hour in the first 2 hours of the day, why sit around for another 4 1/2 trying to crack out another $300-750? I guess I'm old enough to realize that money is not an end in itself, but the means to living well.
 
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