Dollar yen never rallied with the ES in the last 2 days ... it was drifting sideway at best. Today, it is testing its tight range bottom while ES going the other way.
I think you are on the West coast. I guess the lesson here is to set the target too, not just stop loss, specially when one is sleeping... 872 now...
Yeah I am on the West. I usually do place a target, but I was hoping to strike gold (well, what did ya expect, I'm a noob! ). With the payroll numbers coming out tomorrow, that was the plan. But with less than 3 hours of sleep, I ain't in the mood to trade today.
so you were up at 3 am est ? FWIW history shows that reversals happen in es with a high probability between 3 and 3:15 when europe opens and then the next reversal time zone comes in around 6 am est.
No, bro, this insomniac was up at 3 am PST! But you're right about 3:00-3:15 reversal. That's when the European markets open.
Go back and look at the morning price action in the last two days and you'll see a close resemblance to what's unfolding today. How predictable can ya get? These morons are pissing me off!
The 2 days chart started to look like an even bigger camel. It is not that I am fond of PPP, Pekelo's Pet Patterns, but what it represents. The camel's neck was a rally, the head was a symmetrical triangle. Trend + sym. triangle means continuation of trend... This new head is either an ascending or a symmetrical triangle, either way it means up.... Here it is:
3rd test of gap ... Edit: gap fill play in progress ... potential target 886. Should be attractive enough for momentum players to push it up at least to mid gap area.
Today we had the 5th higher low around 860 (cash only), and the 5th higher high is in the works, 874+.... Oh yes, and the camel's head broke out upward...