ES Friday 7-10-15
Today's open was right at YD's high, we looked above and failed. Is the destination trade to the other extreme? Look out for VAH, POC and VPOC on the way there because that is a long long way down there. Interesting open
so far we have seen a bounce from a couple of ticks above VAH. Will we retrace back into VA after this bounce?
so far the VAH has been tested 2 times and we have seen bounces... the semi-permeable membrane is getting weaker and the next touch to it will likely give way. should be interesting to see how this plays out over the remainder of the day.
on the other hand, the value is overlapping to higher so if we do not see much movement to the lower side over the day, then the odds of a rally towards the close increase.
on the other hand, the value is overlapping to higher so if we do not see much movement to the lower side over the day, then the odds of a rally towards the close increase.
currently it looks like YD's value is being rejected. the short trade would have worked until VAH and then stopped out. if short gets stopped out, long would have been the way to go. either YD's value was going to be accepted or rejected. since it got rejected, the decision would have been to go long after exiting VA
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