ES Wednesday 11-02-16
Key lines coming into Wednesdays trade...with all that selling we still closed almost at the midpoint....ad line made it almost to minus 2000 on tuesday.....
EDIT a four minute video...tried to keep it short but couldn't...at least I kept it under the maximum as per jing...added in a new line as per overnight confirmation but critical area still sits above...I plan to use that as a magnet today...we have seen many closes that form the pivot near the midrange of the prior day get tested...so I thnjk that will happen today
Click image for original size
EDIT a four minute video...tried to keep it short but couldn't...at least I kept it under the maximum as per jing...added in a new line as per overnight confirmation but critical area still sits above...I plan to use that as a magnet today...we have seen many closes that form the pivot near the midrange of the prior day get tested...so I thnjk that will happen today
added a 4 minute video and a new line...........I .like upside trade targets better than downside this morning in early trade
plan for me is to hunt longs on dips below 2100...as close to 98.75 as possible
taking something at 03.50...I've seen too many times where we get near to close gap fill and fail before we get there
current rth high matches the Overnight high...gives you an idea of what kind of players are in this market.......it's us small frys again !!! That is a poor high...and the rally began at the overnight midpoint..and the current rth low has three minute bars with the same low...so that sucks too !!
all this market is doing so far is filling in between two time nodes...the 06 and the 98.75....will get to a chart soon...I hope
scaling heavy at 05.50 two runners left...here is why
Click image for original size
lets try this capture again...note the two blocks of time from yesterday and the way they have driven back and forth in between them....
Click image for original size
I'd love to see this wedge break to upside on a huge thrust and go up into the 08 area...that would be ideal...which probably means it will roll back over and go tag the 98.75....ha !! unusual to leave three sets of singles from a day before without testing at least one..
your job if still trading from a probability viewpoint is to think if it will be the pivot test or the S1 test today.......that would be your focus as one will print ..I'm hoping it will be the pivot and all trades have been to long side....
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Copyright © 2004-2023, MyPivots. All rights reserved.