So the POC is right at 1100 even:
http://www.mypivots.com/board/topic/5894/2/value-areas-and-point-of-control-2010-q3#64840
Economic Events for Friday:
08:30 AM GDP
08:30 AM Employment Cost Index
09:45 AM Chicago PMI
09:55 AM Consumer Sentiment
03:00 PM Farm Prices
http://www.mypivots.com/trading/economicevents
KO
koolblue
Rep: 48,651
Posts: 16,032
Originally posted by BruceM..sAME HERE, FRIEND!
trying agin from 90.75..long
BR
BruceM
Rep: 216,211
Posts: 19,895
for me that was a test of the high of the HIGHESt one minute vertical bars volume..that bars high.....we need to get away from that and quickly otherwise I think they will revist 86 and lower today
That was a big BAR!!!
That was a big BAR!!!
KO
koolblue
Rep: 48,651
Posts: 16,032
Originally posted by LornWOW, INDEED IT IS!.. still going to wimp out early at 1093.00 tho..(i hope!)
Isn't that quad's at 1094.25?
KO
koolblue
Rep: 48,651
Posts: 16,032
You're sharp,Wendy! Actually , i dont normally use fib retracements, just my Kools tools fib extentions. Sometimes, tho at what i feel may be an important high or low, I sometimes look around for any other kind of corraborating evidence to support my theory (like is there support or resistance here?,are any cycles topping or bottoming here,is this a previous high vol zone?,...etc). Probably just a confidence booster. I have never found fib retracements to be tradable. Doesnt mean they arnt, just not for me. In this case i believed the low was important in that i was looking for the daily low to be made here, and possibly for the next few sessions. I was caught a little off guard as if memory serves, i had just logged on 5-10 min before it occurred and really had no time for much study!. That in itself speaks to the power (and confidence i have) in my fib extentions. Hope this helps explain my view and actions a little better.