Don't forget that today is a Fed Day. Resources for today:
All fed rates over last 21 years:
http://www.mypivots.com/trading/fedrates
The ES on the previous 113 Fed Days:
http://www.mypivots.com/trading/feddays
PR
prestwickdrive
Rep: 2,057
Posts: 1,098
Originally posted by prestwickdrive
Originally posted by prestwickdrive
Kools Tools use on news events tends to give decent inflection points so, fwiw, the initial move off the Fed's news was 1196.5-1182.25. That gives an initial target of 1173.5 and a full of 1159.25. Those projections are valid until 1196.5 is taken out.
73.5 hit and was good for a long scalp. Wish I had so much faith in it to have shorted earlier and held for it.
I thought 59.25 might be in play for tomorrow or during Globex. Wow!
SA
sandoxe
Rep: 445
Posts: 418
Bearish, bearish. Here it's 1158 before closing.
ES trading 1158.25 @ 16:00
ES trading 1158.25 @ 16:00
DA
DavidS
Rep: 3,181
Posts: 557
Appreciate the sentiment but it's not about that. It was an event trade(earnings,fed,etc...) He/She who hesitates is lost.
No news. No volume. Price is always the leading indicator. :)
1998 was resistance. Didn't make it?
Stopped at 1996.50 I think.
The 1182 target was missed by a tick. Took about 4 minutes top to bottom. That was the event.
Correction stopped below 1189. Other levels represented in corrections/ pauses and 1260 exceeded. Extension.
This was posted pre fed announcement. The objective is to be right, in the trade, even if 98 was hit.
No news. No volume. Price is always the leading indicator. :)
1998 was resistance. Didn't make it?
Stopped at 1996.50 I think.
The 1182 target was missed by a tick. Took about 4 minutes top to bottom. That was the event.
Correction stopped below 1189. Other levels represented in corrections/ pauses and 1260 exceeded. Extension.
This was posted pre fed announcement. The objective is to be right, in the trade, even if 98 was hit.
Originally posted by destiny
Originally posted by DavidS
Trade plan
1- shoots up to 1193.50 or higher to 1197, short as 1198 R level
2-drops below lod, go with it using 1189, 1187 as s/r line
1181-2 the 38%, target below that would be 1175,1171, or lower(1160)
above 1198 will reevaluate
between em all is 1193.50 key level imo and working good above and below so far today
1189 should have been a buy signal? there's a message there somewhere 1193.50 the key to me
maybe will muddle around in the area
Magic Beans!
You were right on the MONEY. CONGRATULATIONS.
using price as leading indicator
thinking overall down but subject to change my mind