ES Friday 2-6-15
went back to test 61, make sure that there really was nothing else left there and slammed right back down. that was pretty!
Originally posted by NewKid
FWIW, there is a poor low in place right now with only 1 TPO of excess. With prices hovering around YD's high, if i were trading, i would have been tempted to attempt a short again over here with a fairly tight stop.
not trading, just trying to share some before the fact analysis.
where do u see 1 top excess only? mine does not show that..... but I do find 61 as the opening price today...and when it busts thru on downside...then comes back to test it.
61 is the weekly high of 1-5 .....for me that was one of a few lines in the sand.......getting out of key ranges is always crucial.....or back in...it's all about ranges and value....same way todays highs tried to bust out of January's highs of 66.50....critical to know these larger references IMHO
ty Bruce, yes I can see those key ranges on monthly and weekly charts... was just wondering how it was being seen on a TPO that sounded like a today or yesterday TPO that Newkid was talking about.
daddywolf, see the attached picture. i was referring to today's MP chart. Look at periods H and I. I came within 1 tick of H's low and rallied back to out of YD range. It tested the critical 61.25 level, made sure there was nothing there and came back to repair that poor low in the K period. We were in the J period when I wrote that post.