daily trend not just broken but smashed. Incredible rally or the mother of short covers if you are a bear.
on days with such big rallies, do you see moments in the last hour or so of longs taking profits showing quick drops like you do in oil [CL]?
Correct me if I'm wrong, but on strongly impulsing moves like this, price is more likely to continue to the upper end of a resistance zone before finally turning. Sort of like a loaded up 18 wheeler as compared to a car... more momentum requires more time to stop
I would like to ask the participants and readers of this thread for a bit of help. JimmyJam advised in another thread that he has posted "plenty" of real time calls in this thread: http://www.elitetrader.com/vb/showthread.php?s=&postid=1685859#post1685859 Since he would not provide a link for one or two such calls, I did a quick check and found nothing to support his claim. Does anyone recall JimmyJam having made any real time calls in this thread? And if so, do you recall approximately when that might have been, so that I may check and verify? Any assistance or insight you can provide would be much appreciated. Thank you for your time And in case you're wondering, I don't make any real time calls in any of these forums. However, I do not claim to have done so.
exactly thats why Im waiting for one more high if it starts falling then I will take scalp entries and will never get my full longer term position on.
Here is a chart of the es dec continuous contract with 10, 50, and 200 period moving average. This is in here for the record. Interesting that the lines crossed around 1500 in September, still below the 50 and 200 on a daily basis.