GLOBEX swinging wide.

I can't imagine they don't flush the stops here, then gun it up back into this range in GLOBEX. We'll see.

Wow, here come the MRRD's.

It sure says a lot when every time they hit it with a program the sellers come right back in. That's new, eh?

quote:

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Originally posted by jimkane

I hope I didn't lean you towards closing that, T. I am just posting my thoughts out loud for everyone to ponder. You never can tell when they come in explosively. I'm just looking at that big weekly line, and thinking maybe the sea change has started for a bit to the downside.

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Jim,
it's not you . it's the chop within the trigger range that was hard to stand. If it wanted to trigger it would have done so already.

Last chance for the stop sweep down. I can't fathom after that failed ramp that they wouldn't get the stops with seven minutes left, plus after-cash.

quote:

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Originally posted by TonyC

quote:

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Originally posted by jimkane

I hope I didn't lean you towards closing that, T. I am just posting my thoughts out loud for everyone to ponder. You never can tell when they come in explosively. I'm just looking at that big weekly line, and thinking maybe the sea change has started for a bit to the downside.

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Jim,
it's not you . it's the chop within the trigger range that was hard to stand. If it wanted to trigger it would have done so already.

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Yes, T. Given the size of the pattern, I needed a bigger trigger (for everyone else: for calls, that's not to say intraday ES longs weren't feasible), especially since it is going against the weekly line, and it never got even close. And so far I'm glad I was waiting for a good-sized trigger. Plus, as I mentioned under my breath, maybe I have already been triggered in puts off the weekly.

I don't like to sit and pray for a pop too long...if it does move later then I'll won't be in it but i really don't care. There's plenty of setups that trigger and pop cleanly. This one isn't one of them.

Wow, they held the range into cash close.

quote:

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Originally posted by TonyC

I don't like to sit and pray for a pop too long...if it does move later then I'll won't be in it but i really don't care. There's plenty of setups that trigger and pop cleanly. This one isn't one of them.

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Yes, that's my feelings exactly. I like to see a strong move off an area, nice and clean.

quote:

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Originally posted by TonyC

quote:

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Originally posted by jimkane

I hope I didn't lean you towards closing that, T. I am just posting my thoughts out loud for everyone to ponder. You never can tell when they come in explosively. I'm just looking at that big weekly line, and thinking maybe the sea change has started for a bit to the downside.

---

Jim,
it's not you . it's the chop within the trigger range that was hard to stand. If it wanted to trigger it would have done so already.

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T, are you giving Jim the "it's not you, it's me' routine? LOL

I understand what you're saying, T.
I guess my comment was referring to traded timeframe and management.
If one were to trade this as a DT at a key line and 447 the traded timeframe should be a 120min chart.
Based on that it produced three minor bars that, imo, are inconclusive either way.
I didn't take the trade because just a trigger off the PTA wasn't good enough for me. For a daytrade I wanted to see a nice Wave 2 type pullback to get in (which it ultimately still might produce on the traded timeframe). It didn't give me that so I stood aside.
I guess my point is that I have often mismanaged trades in the past because I got caught up on lower timeframes where everything is magnified. while I find it important to see what goes on there and it has helped me understand price action better I have also found it misleading at times.
Like you said, you have the experience to tell the difference on a lower timeframe.
For me it's a work in progress.