Hi MF I'm wondering where you get your ES levels, you mention 1321.25 as resistance.... but mainly the 1294.25 as major support that will cause a hard drop if broken. You also mention 1294 in Mav's thread. Where do you get that? Thanks. http://www.elitetrader.com/vb/attachment.php?s=&postid=3432552 I had resistance in that same area also. Monthly A up at 1319.5 and poc from 1/26 at the same area. Nice A-down trade today, not as clean as some but still a good one. Failed weekly A-up this morning.
Not sure where mf gets that level, but 1294 would be a breach of the 20-day EMA after finding rapid support there yesterday. It's a technical level that could trigger sell programs.
Hi DV4632, I get levels from Fish subscription service. From a friend of mine. chart attached. http://screencast.com/t/vGWbXWn4 I do not understand 1/2 of things on my friend chart but i trust her work. We are all trying to trade probabilities. In the end, so far failed A up or A down with stop loss has worked. I am not sure why fish service has a close under 1294.25 as a sign of selling pressure coming. Some times their levels work and sometimes not. They do keep a trader on right side. What OR you use for weekly and monthly levels?
For monthly I'm using Mav's levels that he shares as I haven't yet decided how to best figure it. For weekly I've debated a lot between the first 90 mins of the week and the first 2 hrs of the week. For now though I've settled on the 9:30-11:30 range on Monday morning as weekly OR.
Yes, ES is balancing and waiting for a catalyst. The Fed spike last week fooled me as I thought it might be breaking out to form value at a higher area. But it did not hold, and retraced back into "the box".
tuesday's grease......... trade 1 dark zone reset after asia long to the 5.7 exit door trade 2 fib out the retrace in london , puke to the 5.7exit in ny trade 3 three sisters setup in ny, short puke to the 4.2 low of the day. patterns and fib expansion. keep it simple. s
wed grease.... trade 1 3 sisters long in asia to the 4.2 exit fully diverged trade 2 3 sisters and a dt in london fully diverged short re test the asia session low..... new short pendings filled and pinned at the bottom of the box stops blown. MM 1 new shorts zip playing thru. s
that was just plain nasty........... whack job new pendings pinned short or blown. the ES locals are trading grease today. s