ES Mon 8-1-11
Monday's globex session has been open for a few hours now and the market is trading above the value area by around 10 points. The two red dotted lines you see on the charts are the singles that were' in play on Friday. They are no longer in play and will disappear off the chart when the market opens at 9:30am ET.
That being said I still think that the higher priced single print at 1298.25 along with the VAH at 1296.50 provide the support band if the market opens above VAH and trades down to this area. I'm going to split the difference and call a long at 1297.50
Good trading everyone.
That being said I still think that the higher priced single print at 1298.25 along with the VAH at 1296.50 provide the support band if the market opens above VAH and trades down to this area. I'm going to split the difference and call a long at 1297.50
Good trading everyone.
Longs being chopped away
That long trade was a complete bust. Opened above value area and traded through to below value area while forming in Initial Balance.
hey, dt,
was that an opening drive?
WOW.
was that an opening drive?
WOW.
All this debt ceiling crap reminds me of the TARP crap. I lost thousands and thousands of dollars trying to trade those headlines.
I paid that tuition bill and the lesson learned was, don't fool around in the markets when headlines rule the roost.
I haven't put on a trade since Friday morning
sometimes it's better for your mental health to just watch.
Just because the market had a huge one way move doesn't mean that you're a chump trader because you didn't participate.
I paid that tuition bill and the lesson learned was, don't fool around in the markets when headlines rule the roost.
I haven't put on a trade since Friday morning
sometimes it's better for your mental health to just watch.
Just because the market had a huge one way move doesn't mean that you're a chump trader because you didn't participate.
amen brother......
Paul - Thanks for the confirmation. My thoughts exactly.
Originally posted by PAUL9
All this debt ceiling crap reminds me of the TARP crap. I lost thousands and thousands of dollars trying to trade those headlines.
I paid that tuition bill and the lesson learned was, don't fool around in the markets when headlines rule the roost.
I haven't put on a trade since Friday morning
sometimes it's better for your mental health to just watch.
Just because the market had a huge one way move doesn't mean that you're a chump trader because you didn't participate.
Excellent comment Paul - thanks.
the one thing i was watching was the gap between friday's rth (300.75) and today's open; a move to fill/test with failure to trade through it would have been quite bullish in my mind, at least for part of the morning session. We tested that gap and immediatly traded through it signaling weakness and putting the vah and vpoc from friday next on the list. We bounced somewhat from the vah but to me that was not the key area for bulls to hold but the gap mentioned above. That is why i believe we bounced only mildly from friday's vah and not surprisingly we were parked around the 92 area (where the vpoc from friday was) before the ism data came out and did the rest. The bulls had already lost control of the battle way before that anyways
hope it helps !
hope it helps !
apk,
thanks for the analysis.
thanks for the analysis.
1272 the equidistant target
correction,if there is minimum 76.50
can extend obviously
correction,if there is minimum 76.50
can extend obviously
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