My experience is that these markets need no news to move intraday up and down in quick fashion. There will be occasions when you could get stopped out and the price comes right back to where it was in the space of a minute.
The View Down River Well 1.2040 got hit on Friday and then the bottom fell out. Hopefully everyone made some money on Friday, it was a good day but things moved fast. At this point, I still feel a run up is in the works. There a couple key levels lurking below that could be the catalyst. When you see volatility like Friday, that's a good sign that the mood of the market is trying to decide. I would still like to point out that volume is not significant. Keep an eye out for a big volume down day. This could be when lots of low priced shares change hands and are being bought by the "big boys" at perceived value. Follow their lead. Sunday, February 12, 2006 ASIAN SESSION FOCUS LEVELS 1.2009 Strong Resistance 1.1969 Key Resistance 1.1922 Currrent Price 1.1917 Long Above, Short Below 1.1865 Solid Support 1.1825 Strong Support 1.1810 Strong Support/Reversal Level Price is at 1.1922. My bias is up on Sunday night as we are sitting on solid short term support.I almost got long at EOD on Friday, but thought better of it. I am going to see what happens around the open. I would like to enter long near 1.1917 and take profit around 1.1969 or before. Then look for price to test this 1.1969 level with a minor push thru and then a short trade back down to the 1.1917 level. If price pushes thru the 1.1917 area strongly, I will look for a pullback to this area and a rejection downward. I will be short into the 1.1865 area. If things really move, then watch this 1.1825/1.1810 area for a good entry long. I suspect we may need further sessions to hit some of these bottom levels. Take Care and use protective stops to your liking. DRT
Good idea I guess. I never know where my committment level is with these things. Thanks. Tell you what, instead of having baron move it. I will just end it and start a journal thread.
Not sure this is the right place but have just got TT installed for futures. On the ladder it only shows the best 5 bids and offers at any one time. Is this a TT policy or is that all the CME will be allowed to be disclose at any one time? Thanks.