Here is what I've been looking at the whole day. The .382 area was support overnight and got re-tested at the open. Easy setup and worked pretty good so far.
Click image for original size
MA
Marco-T
Rep: 0
Posts: 41
Wish you all nice and successfull trading week.
Here is what I've been looking at the whole day. The .382 area was support overnight and got re-tested at the open. Easy setup and worked pretty good so far.
Here is what I've been looking at the whole day. The .382 area was support overnight and got re-tested at the open. Easy setup and worked pretty good so far.
JI
jimkane
Rep: 3,058
Posts: 33,089
A nice flush down into those areas in the 30's would be nice. For now, I'm just going to stay short side bias, and see if it starts to 'act right' to the upside at some point.
JI
jimkane
Rep: 3,058
Posts: 33,089
No comments, eh? I leave the thread alone, and no one carries the ball...
Did you all see the flat ABCD this AM? Right at a key .382, DP, VAH, GLOBEX high, natural set ML, and my key adjusted set upper //. The CD leg also had an ABCD, with an EXP ABCD in the BC leg (this is okay in a flat ABCD, but terrible in a 'standard' ABCD). So, as Eric said above, waiting, and this was what I was waiting for.
Okay, now where is this? Recall what I said about the 30's. Did you do the work?
Did you all see the flat ABCD this AM? Right at a key .382, DP, VAH, GLOBEX high, natural set ML, and my key adjusted set upper //. The CD leg also had an ABCD, with an EXP ABCD in the BC leg (this is okay in a flat ABCD, but terrible in a 'standard' ABCD). So, as Eric said above, waiting, and this was what I was waiting for.
Okay, now where is this? Recall what I said about the 30's. Did you do the work?
JI
jimkane
Rep: 3,058
Posts: 33,089
While you're working up the flat area, also throw in the .236 off the Wed high, too (RTH).
JI
jimkane
Rep: 3,058
Posts: 33,089
quote:Look at the set lines, TL, the .382, .447, 1.618 for the DT. And look where it started to bounce.
Originally posted by jimkane
I have some things that start coming in in the 30's. I'm wondering if this pattern on the RTH chart isn't trying to act like a DT ABCD (it is now right into the key area for that, from here down to the 30's). Do the work, get the key numbers and sets on there and check this out. We'll see. Keep in mind, though, one possibility is that the intermerdiate top is in, so I'm looking at bounce areas for potential shorting.
JI
jimkane
Rep: 3,058
Posts: 33,089
This may become the combined ES/CL topic, since crude is really trading lately.
Everyone see the ABCD with an ABCD in the BC leg in CL? .236 off the Jan low. Set line(s). Very nice. But does the market premise say up here? What is the stock market premise? Bounce and roll? Or new highs?
Everyone see the set line and .300 that stopped the ES dead in its tracks?
Everyone see the ABCD with an ABCD in the BC leg in CL? .236 off the Jan low. Set line(s). Very nice. But does the market premise say up here? What is the stock market premise? Bounce and roll? Or new highs?
Everyone see the set line and .300 that stopped the ES dead in its tracks?