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ES Wednesday 2-25-15


Here are the basic areas so far

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new day
new kid...does dalton every really describe "tempo" ?...it seems to be a discretionary term he likes to toss around a bit but never really defines it
trying to get to 13.75 on one runner...get out ahead of todays peak time price but not sure they are done with the 16 players...
he uses the word confidence more than tempo but you are right, he does not define it. he has actually stopped defining a lot of things and speaks more about context. everything should be seen in context

Originally posted by BruceM

new kid...does dalton every really describe "tempo" ?...it seems to be a discretionary term he likes to toss around a bit but never really defines it
actually i take it back. he does define confidence somewhat. for him a low confidence market is when only day timeframe traders are playing the market and the bigger money is sitting out. he believes that this is the most fickle money and that they can change their mind at any time therefore reversing the market.

for example when we see buying off of prior 30-min period lows or within 1 tick of it, gunning for stops above YD highs, etc, that tells him it is only day timeframe traders and says to be careful in them
oh wow...a cool lucky strike......that's it for me....we seem way overbought up here......on bigger time frames .....I think many want to see this rally capped at 2125 - 2135....obviously a bigger perspective and not worth much to us grunt day traders.....but for us option sellers in training it becomes very interesting !!
here comes the liquidation after taking out the stops above YD highs
thanks newkid
to me this is nothing more than going back to our key area from the chart up top....the magnet zone today.....now getting under that and failing on rallies would be more impressive to me...otherwise it all seems like just noise and could just keep coming back to the 2111- 2112.50....too late for me but hope it drops if that's what ya need it to do