Bands for the day. Good luck to all.
NE
NewKid
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January's VPOC is at 18.75 and yesterday's high is 18.5. They must be gunning for it
SH
sharks57
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Posts: 470
Very good longer term perspective Bruce, looks like that 26-27 area is giving way just as you suspected.
BR
BruceM
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us sellers really wouldn't want to see this pop up above the 26 - 28 area now.....we want that monthly bulge in prices( on weekly too ) to turn into resistance...to get our 21.50 and lower.......lets see if the 1-28 poc means anything to them...it worked for the OR low so somebody was watching.....I had to choose which lines were important to me...and the 26 - 27 was more important then the 24....only so many lines I can work/trade from
NE
NewKid
Rep: 16,470
Posts: 1,915
poor low in place. high probability of it being taken out.
i dont think the sellers want the market to go too far above OR high
i dont think the sellers want the market to go too far above OR high
BR
BruceM
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Posts: 19,895
not so sure if we will get the big win...always interesting this market as there are so many who day trade it and this daily numbers have some big power some days.....so perhaps the 24 POC has more power than my 26 - 27...this small push up now will tell us I guess
Originally posted by sharks57
Very good longer term perspective Bruce, looks like that 26-27 area is giving way just as you suspected.
BR
BruceM
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Posts: 19,895
I'm putting stops on last two runners at 30.75...so i plan on either getting stopped as market pushes slightly above and back to High time price today or else my next target is 21.75.....I will not over manage this trade now that it is past 11 a.m...I really want my 26 -28 area to hold back prices but I realize that these longer term areas require more wiggle room...it seems the bigger the time frame then the bigger the players and that means they have more staying power so they don't mind having price drag around on both sides of their key prices
SH
sharks57
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I went long down around 24.25 looking for mean reversion back to developing VPOC
BR
BruceM
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28 is today's LTN area so if we are to flip over back down I would like to see it happen now...otherwise I am KAPUT !!
