There we go 11394.75 cleared as well now. That's all the means reversion levels cleared, anything else just a possible continuation / trend following. long.
Yes it looked tough, and was as mentioned, but I factored in larger charts still being relatively decent and we have 11381.00 and 11394.75 means reversion levels above and those generally have about a 72.8% chance to be filled intra-day. Should of held more longer, but hindsight always 20/20
11420 - 11440 is a distribution area much like the 11345-11365 was an accumulation area, So this will likely be difficult to get above here, not sure it's really a good short area. I probably will skip this one, would need to an actual sell signal too much bullish momentum for me to jump in aggressively.
Good call trdes! I had that support level - I just didn't have a good read on the momentum but in hindsight, I should have scaled size down with a buy limit order there.
Thanks for the response. Through the filters of my own (ancient and limited) EW knowledge and usage experience, it makes perfect sense... EW is subjective. Usability is dependent on unrelated/unofficial inputs. All of which is why my EW knowledge and usage remains ancient and limited. Thanks again. Trade On!
Minor sell signal coming in here @11346 so will short some if goes above 11452 or closes above 11440.00 just going to get out. Not interested in fighting it or giving back my hard earned gains. EDIT: Ops meant 11436
That's really kind of lucky, didn't realize it was almost 4:00pm but I'll take it. My trades never work out this clean.
Look at that rally off the lows! As long as we open inside range - tomorrow should be a positive day, too. I don't think we have the Week High in yet. Probably tomorrow.
When markets are moving fast and algo's are extremely active, that's when my concepts / view works best. I generally try to only post when I see something clearly and it has a high probability of working out, of course as we all know nothing is 100%. Can be difficult to post in time when markets are moving this fast, but both the long and short was able to post ahead of time and it helped me honor my rules and take the trades. Just here to share some concepts and hopefully add some value and get some in return. I am always improving / looking to improve and recently I've made a lot of progress. See you guys later have a good evening.