ES Thursday 10-10-13
areas I'm watching today
any resemblance to burce's chart is pure coincidence !
Click image for original size
1674is the "equality" projection of the initial move from the 1640.00 low to the 1656.75. we should struggle here for a while
my shorts up here are trying for a test of 70........not easy with this slow grind...we are at the edge !!...I am trading as if they WILL push into the 75 area center..so keeping all short fades small
barest bones little one min proj. would be equality at 1670.75 and 2.618 at 1669.50
i just exited a small short at 1671.75 .. i just hate fading a strongly trending market...
I'm on my third sell now......they are going from center to lower edge...so moved first target to 71.50......all the volume building at 71.50 too.....two small losses and one minor win so far....
so now all will watch this lower edge to see if it holds for those buyers.......not an easy day for faders so far
trying to target days midpoint next but have little confidence....an lvn is at 69 too.......IB time is almost up !!
went flat at 71.75.....just don't like the way that 71.25 is holding...seems Ib high break is what they will want
whew...that was close...will look for new and lighter sells above IB highs but this is the center of the bell....better sells sould be up at the 80 - 81...nice chart too Nick
wow, they took the trip right to the upper edge of that beel curve from 10/4 (and an untouched upper edge of the curve from 10/2)...ripping through the nvpoc at 82.75 and filling the gap at 84.75...that's what hours of balancing will do to you...
86-87.5 was a zone i had on the chart, bu i was not here to trade it...and might have not done it even if at my desk...we know how this trend days end...usually making highs (or lows in down days) in the last 30m
86-87.5 was a zone i had on the chart, bu i was not here to trade it...and might have not done it even if at my desk...we know how this trend days end...usually making highs (or lows in down days) in the last 30m
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