ES wednesday 8-13-14
everyone still watching 40 - 42.50...( break down point)..holding back on that will target YD highs and then 31.50 - 32.50..otherwise the plan will be to go retest up into 50 - 52.50...my money is still leaning on shorts early on this push up
tuff spot to find to put runner stop out point !!...we know they like to battle at previous days highs and lows so using that high is tricky....a longer term trader would not want to see a close back outside of YD highs after we had the first 30 minute bar close back inside that.....so we can treat the entire days range like the good old fashioned "80 % rule"...except use the range instead of the value area levels
us small frys would also want to watch the opening range high too.....it's not an easy hold today for sure !!
us small frys would also want to watch the opening range high too.....it's not an easy hold today for sure !!
Bruce, its not clear to me how/where you got into your trade. Can you briefly explain when things settle? Thx
I will address this tomorrow Radyk....stopped out when we got the 10:30 close outside of YD highs.... I need to run out to get a car inspected...no overnight high or low printed yet for those hanging about...I expect more tests of 36.50 when we get above 38.50...good luck
Just a note on that 42.50 area. It is also the 23.6% fib retracement of the move up from 1803.25.
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