ES Wednesday 1-29-14
very congested where we are down here...my plan is to try to buy in the 1770 to O/N low area.......I don't like the 72 - 74 but would use that for targets.....76.75 - 78 is a better first sell zone... fed day today...be quick or be dead !!.....failure at the 70 zone will try to push down towards the 63 - 65 where I would try buys again
on second buy from single prints of Monday...being careful as I don't trust that 72 - 74 and it became resistance the first time..so it was a better target...I know if wrong then 63 - 65 is it the plan for sellers
this second campaign and coming out heavy at the 72....runners will try for 75.25 gap close and then try to get into the 77-78 key zone
how cool is that...VA low of monday is right at gap close so we may see some selling here...hope not
moving next target to 76.50.......too fast....flat now on finals at 77........may try small ( and I mean real small) shorts off this upper zone but it was a good move up...good luck from here
decided to sit it out......if this zone fails then we know they will push for 81.50 - 82......nuff said.....hope all where quick and not dead !!..I really hated that entire zone from 70.50 - 74.50 - see the chart......so I waited for buys under that.....
would have been a good sell in hindsight but hindsight doesn't make u money.........when I grow up I'm gonna be a good stop and reverse trader ...LOL...till then I gotta just go with what feels good in my brain
great work bruce
thanks Duck....very interesting how they tried a few times to get and hold above yesterdays lows and have failed....if it wasn't a fed day I would say that is a bad sign but we all know that the announcement can change things in a flash.....
Bruce - great analysis. I am new to MyPivots, although a longtime eMini trader. Love your premarket video and your viewpoint is dead on. Thanks for taking the time to share.
Rburns - I was only looking at the weekly options that expire this friday......was hoping to get that swift move up as a substitute for a day trade after that fed announcement due to the increased volatility