MyPivots
Sign In
    KO
    koolblue
    Rep: 48,651
    Posts: 16,032
    0
    I am selling one here at 1296.75. 3 point stop.
    BR
    BruceM
    Rep: 216,211
    Posts: 19,895
    0
    I'd have to say MP ( VA ) is more important as I think more pro's will look at it.....gaps are nice and so are closes but the average retail trader is on to that....I was also watching 8 points below the opening print.....and of course volume.....to make that LUCKY exit
    quote:
    Originally posted by redsixspeed

    Bruce;

    MP vs. GAP which do you find to be a stronger s/r

    SP
    SPQR
    Rep: 0
    Posts: 519
    0
    Did I fade 90.50? Why yes I did. Is 81 still my target? Why yes it is.
    RE
    redsixspeed
    Rep: 4,111
    Posts: 1,711
    0
    Bruce / Joe

    Thank you sirs
    CH
    CharterJoe
    Rep: 4,475
    Posts: 2,352
    0



    Click image for original size
    No Description Entered



    This large MP on the left is a graphic of the entire ES U8 contract life. Notice the markets yesterday traded out of value 3 ticks then rejected it and sold off 16 points, a very nice short in which we participated in. At the same time markets were on a monthly basis above value and a weekly basis. another note; the market has been for the last month spending most of its time in the upper end of the contract life VAH and retreating only about 20-30% back through the value area. So looks like the market is wanting to move highier.
    BR
    BruceM
    Rep: 216,211
    Posts: 19,895
    0
    spqr..while you wait for your 81 to hit perhaps you could address this...

    http://www.mypivots.com/forum/topic.asp?TOPIC_ID=3217&whichpage=4

    I was hoping you would have replied before the up move but after the fact is ok too.....

    thanks

    Bruce
    KO
    koolblue
    Rep: 48,651
    Posts: 16,032
    0
    selling 1290.25 for a very short scalp. 1.75 stop
    BR
    BruceM
    Rep: 216,211
    Posts: 19,895
    0
    No problem...glad to help when I can.....it's always good to have explainations for trades etc...

    So if we miss something then please point it out and I'll do the same...I hope all enjoy the long weekend...and a big hand once again to Joe for taking the time to post those great MP charts..........I have lots of learning to do on longer term MP......great stuff......If I could roll it up, I'd smoke it........lol...Ok maybe back in the 70's I may have tried that one.....
    quote:
    Originally posted by redsixspeed

    Bruce / Joe

    Thank you sirs
    BR
    BruceM
    Rep: 216,211
    Posts: 19,895
    0
    based just on your longer term chart alone Joe, I would say they want to fill in that low volume area between the 67 and 81 area.....good long term points of reference....especially for next week...
    KO
    koolblue
    Rep: 48,651
    Posts: 16,032
    0
    covering around 1288.25
    KO
    koolblue
    Rep: 48,651
    Posts: 16,032
    0
    out at 1288.50.plus 1.75(6.25 on the day)
    BR
    BruceM
    Rep: 216,211
    Posts: 19,895
    0
    Will you explain why you took this trade? Yes you will.... hopefully.........besides the retest of the Value area low of course...perhaps that was it....


    applied knowledge is power....knowledge alone is not enough!!!
    quote:
    Originally posted by SPQR

    Did I fade 90.50? Why yes I did. Is 81 still my target? Why yes it is.