ES Tues 9-20-11

I think we need to start Tuesdays thread on the lighter side.

Me and my shed !!!!! Click on the image to view in "normal" size..

Click image for original size
I don't use hard stops and In the morning I still average in some days but as I get better with the footprint charts I'm spending more time taking multiple tries with small stop outs in my areas....those stops are defined by my footprint charts ...and most times I just go to market...

On runners I will trail stops behind swing points or use a function of the volatility
Originally posted by tradezilla

Bruce, how wide are your stops?
gn, everyone
thx Bruce.. gn everyone..
In hind sight, when the BO failed, the retest of 8.75 was a clear place to go short.. I wasn't thinking short because we had a Fisher A up day for me but a failed BO/BD at a major level always traps opposing positions..
The Russell also told us from most likely to least likely that either:

1-ES is not likely to BO or
2-TF will spike up hard when ES does or
3-ES will not go far when TF retests its highs..

From my experience, when the divergence is this large, the odds are usually against a BO..
If you build again let me know, you can use the guys that built my building ... we even made a video: