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ES 1-6-2008


Good Morning Traders !

VAH 930.50
POC 925.50
VAL 922.00

Weekly R1: 954.50
Weekly PP: 904.00

Daily R2: 944.00
Daily R1: 935.75
Daily PP: 926.00

Highest High in last 20 trading days: 934.25

I will be watching what happens at R1 with great interest this morning ! Also watch the IB high for indications of a trend day if price is accepted above R1.


ES Daily Notes 5 Jan 2009
thanks PWD
quote:
Originally posted by myptofvu

I thought for the 80% rule you had to start within the the VA then if you broke out a bit and came back inside it had an 80% chance of reaching the opposite VA.


That may be true but its not how I was taught. I was taught any breach into value from ourtside of it from either end, and a hold into 2 periods, triggers it and it stays valid until it fulfills or fails. Even when it fails I have been taught to watch for unfulfilled "80%s" because like gaps, they eventually fulfill / fill.
quote:
Originally posted by prestwickdrive

quote:
Originally posted by myptofvu

I thought for the 80% rule you had to start within the the VA then if you broke out a bit and came back inside it had an 80% chance of reaching the opposite VA.


That may be true but its not how I was taught. I was taught any breach into value from ourtside of it from either end, and a hold into 2 periods, triggers it and it stays valid until it fulfills or fails. Even when it fails I have been taught to watch for unfulfilled "80%s" because like gaps, they eventually fulfill / fill.



Thanks PWD
quote:
Originally posted by BruceM

Hey PWD...how fast have you seen the "BIGS" flip from net long to net short? Reason I'm asking is that I'm wondering what it looks like on your chart when the rally it up like they did this morning and then roll it over....thanks


Bruce - Here is today's action so far. Bigs are the white line. Right after I said smalls were starting to sell they bought fairly hard and bigs bought off of their net zero line too. The number on the right is the big $ level but the scale tis the same on this chart for bigs and smalls.


Click image for original size
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quote:
Originally posted by myptofvu

long @924.75 off the Triple Lindey


looking for 928.75
quote:
Originally posted by myptofvu

quote:
Originally posted by myptofvu

long @924.75 off the Triple Lindey


looking for 928.75


moved stop to lock in 2 pts

out +4
nice trade mypto
resting order sell 31.50 2,25 stop if it gets there


Click image for original size
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quote:
Originally posted by pt_emini

nice trade mypto



Thanks PT
Thanks PT. Very much appreciated the time and thought that you have put into the questions I asked.
I have still a lot to learn.
Regards
A