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Trade well!
JI
jimkane
Rep: 3,058
Posts: 33,089
Okay, let's see if Eric's 92-94 caps this, or if they shoot for the new highs in the last 1/2 hour...
JI
jimkane
Rep: 3,058
Posts: 33,089
Funny, I posted my comment and while I did yours posted. Exactly the same thoughts.
JI
jimkane
Rep: 3,058
Posts: 33,089
Yes, and it also makes up all the fast drop yesterday, and gets it back into the W2 that started it all. But I suspect it just needs a bigger pullback here, a nice W4, and up it goes. Probably tomorrow.
JI
jimkane
Rep: 3,058
Posts: 33,089
Wouldn't a move to within one tick of that .786 be a cool place for this to continue an intermediate top from? Well, I can dream, can't I?
JI
jimkane
Rep: 3,058
Posts: 33,089
Now, if the ES starts up from here and doesn't drop more, that mean the MRRD's are just leaning on this like crazy, no interest in even checking it back for better prices.
JI
jimkane
Rep: 3,058
Posts: 33,089
Okay, I'll solve the mystery. I probably should have left this for a day to see what anyone might come up with, but I want to finish up my week here, so I'll go ahead.
Note that this is not the basis for my trading, only one more factor I can add to my methodology when I see it. SL comes in, so I put the standard SL set on there, and watch the ML. Among many other things, it overlaps with an obvious .300 and .564. Hence the 78 (maybe 77.75?)
I also noticed another SL and set for that, and the upper // hits at the obvious .886 at 77.50, right in the general area.
It's splitting hairs to try to call these two areas, or to try to find an ES area even as small as two ticks, so in reality all this is one area, and it hit it dead on. I never should have said I was watching 78, instead I should have said 77.75 plus or minus a tick or two, but I really thought it might want to hit that ML dead on and quit right there for the week. So, that's one of the things I was watching for that mystery area...
Charts created on QCharts, courtesy eSignal.
Note that this is not the basis for my trading, only one more factor I can add to my methodology when I see it. SL comes in, so I put the standard SL set on there, and watch the ML. Among many other things, it overlaps with an obvious .300 and .564. Hence the 78 (maybe 77.75?)
Click image for original size
I also noticed another SL and set for that, and the upper // hits at the obvious .886 at 77.50, right in the general area.
Click image for original size
It's splitting hairs to try to call these two areas, or to try to find an ES area even as small as two ticks, so in reality all this is one area, and it hit it dead on. I never should have said I was watching 78, instead I should have said 77.75 plus or minus a tick or two, but I really thought it might want to hit that ML dead on and quit right there for the week. So, that's one of the things I was watching for that mystery area...
Charts created on QCharts, courtesy eSignal.