9:23 AM 8/29/2014 Narrow range expected <12pts Est range 7.75 H1997.5 @ 8:32CT -7.75 = 1990 low 1992.50 @9:12 est mid 1996.75 -4 = 1992.75 conclusion: low in place. range probably done for the day. back to bed.
Code: Up 1997.00 1992.75 4.25 29-Aug 28-Aug 6.00 High 2001.75 1997.25 4.50 Low 1992.25 1988.00 4.25 Open 1998.75 1990.00 8.75 Close 1999.75 1997.00 2.75 Percent 79% 97%
I'm working hard to get myself positive. It's amazing how f-king stupid people are. Seems to leave little hope for the planet. In any case to ES. Yesterday I had Q61= 1999 and Q62 =1989.50 (Q61 = first point and Q62= second point - I estimate and track turnpoints of 6pts or more). With Dir30 down and the o/n fork down the first leg was esi to be down - which it was Selling q61 of 99 would have been a great entry as the actual FP (firstpoint) was 1999.75 at 8:31 -but I wasn't ready - sleep prbs. The range est was 7.75 and the first leg was -7.50 - so excellent! Well done! Then using 9.75 added to 1992.25 => 2002 versus HOD of 2001.75 !! Great!
A lot of people are watching for that breakout. Anybody with good research that would produce/prevent that breakout? The net is littered with goldbugs.
The chart was made for a fellow trader. (it is neutral nether bug nor bear LOL). For myself to keep track I'll give myself a sim account and see how the trades would work out. So buy 2 > 1325 on a daily close with a stop-loss of 1290 and targets of 1346 and 1392. and Sell 2 < 1270 on a daily close with a stop-loss of 1290 and targets of 1240 and 1180 Disclaimer nothing posted here is trading advice just for educational purposes.
Here a review of the prototype ES signals. The only "false" signal is Tuesday but this wasn't really false as the day was caret-shaped with the first up leg of +5.5 almost exactly equal the leg of -5.75 down.
The gold 15 min chart is your only good chart, the rest are crap especially the 1st on ES since when u trade for real money like I do you want to remove all lines and indicators that don't predict PA (price action). On this chart the best trade would have been a short of around 1292. Every time price came up to this area it was pushed down. As noted price did break a tiny bit above 1292 after bouncing off 1284 before coming down which was basically some stop hunting to take the out the weak shorts. This is basically a perfect head and shoulders chart. The right shoulder could have been shorted which is what I am talking about.