ES 1317.00 Level

Discussion in 'Trading' started by 5Pillars, Mar 18, 2008.

  1. Yeah, I've been looking at the NinjaTrader charts ... very good on price action ... I'm seriously thinking about investing time and energy into them (but I spent years getting my QT charts to where I want them). :p

    Good stuff, and I'm glade they're working for you.
     
    #41     Mar 19, 2008
  2. Ninja Trader and the NT support forum has been excellent imo to transfer everything I was doing with Inv R/T over to NT 6.5 - the Ninja Trader product has been working out very well for me over the past year and I have no complaints.
     
    #42     Mar 19, 2008
  3. Yes - btw, this is called what I call an "inventory grab". You see how right after all the stops are run there was initiated selling to put the new short positions in the green. :) Sellers use the stop run area to rid themselves of LONG positions to weaker hands while building up a new short position for a directional change in price - the 1342 area to 1341.00 was sold to create the price directional transition. 1341.00 on up is the short term over/under resistance now out of the open - sellers will need to defend 1341.00 up to the 1342's for there SHORT positions to hold.

    Fading the stop run just PRIOR to the open was the good play for trading the open imo, and is working out well! :) As you can see, the 1341's were defended once so far out of the open and we have since had additional selling.
     
    #43     Mar 19, 2008
  4. Sellers defended the 1342 level with a good opportunity to sell the HOD run to the 1343 area, so that area held. 1317.00 has now been busted and fading that pre open rally run was the perfect play in a very weak market. Selling 1342.50 has now yielded 30 points - the PRIMARY trend of the market is still down so keep taking your shots and they WILL pay off. :)
     
    #44     Mar 19, 2008