Click image for original size
DA
day trading
Rep: 39,586
Posts: 6,369
Overnight market right in the middle of Value Area now. We have singles a mile high above us at 1272.75 and 1291.25 formed on 8/2 and 8/1.
LI
Lisa P
Rep: 6,498
Posts: 1,428
Della, often to the second deviation (green line on the chart below). In strong market may stay even above first deviation.
Click image for original size
PA
PAUL9
Rep: 14,898
Posts: 1,170
Euroland press conference starting soon, cnbc showed (briefly), the speakers at the mikes.
LI
Lisa P
Rep: 6,498
Posts: 1,428
Originally posted by PAUL9
Lisa,
was that 2nd SD at 1201.50 on the vwap?
Thick red line - RTH VWAP
Thin red - first deviation, green - second, orange - third.
ZI
Zien
Rep: 68
Posts: 8
I know it's easy to comment on moves after the fact but I'd just like to point out the nice confluence from that 201.5 swing high. ES RTH high was tested, INDU gap filled and some key fib levels were hit (1.618 extension from 84.0 to 90.0 and 1.618 extension from 90.75 to 94.75).
PR
prestwickdrive
Rep: 2,057
Posts: 1,098
FWIW, using Kools Price tools, the initial move off the Euro press conference was a move from 1201.5-1191.5. This gave an initial projection of 1185.5 and a full of 1175.5.
We got a bounce from the vicinity of the initial when it moved up to 91.75 from 86.0. If we get to the 75.5 area there are good odds of a tradable bounce too. No sure things though.
We got a bounce from the vicinity of the initial when it moved up to 91.75 from 86.0. If we get to the 75.5 area there are good odds of a tradable bounce too. No sure things though.