However, the most lethal mistake that I've found as a trader was to become a hostage to certain predispositions. For example, being a perma-bear, I'm always resisting the urge to short the market even though such stubborness has clearly proved fatal in past.
I have the impression that there's unfinished business down there (ie: gaps), but there's also unfinished business up there (875-895). That being said, star wipes the floor in terms of trade accuracy, and I've had the "experience" of having a position against his.
Dangerous looking IHS on the larger timeframe charts. I'm bullish until todays lows are solidly broken. On a sidenote, looking to see if I can throw away a little bit of my hard earned daytrading profits via an AH trade as seems to be the trend for me. Long ES 843, stop at 841.75, target ~847.
on a 6 month daily, connect the 10/10,27,28 and 11/12 lows make a tl..supp now res at 848...9/22 ,9/29,11/05,11/28 and 12/01 connect the his, res at 881, 11/05,11/14,11/24 highs tl supp at 803, with all 3 lines drawn you see the beginning of a megaphone starting on 11/05 and a h &s s on the 30 min starting last tue mentioned earlier today,i'm leaning towards a bearish #, add to that that there is ADP,PMI,and Beige Book coming out tommorrow,we havent had any good #s for weeks
What kind of *&^% rally was that from yesterday? No gap up, no continuation, just slide all the way back to the low ... Yesterday was an official tight range day at 33 pts, thus breakout has more significance if previous RTH day high/low are taken out today USD/JPY is on its way to finish its test of 90 on a daily level.
Confluence of levels in the 835 to 840 zone POC at 836, PP at 838 S1 at 825 S2 at 800; 800/805 another importnat zone and of course that 865 level with R1 at 862 and R2 at 875