WOW what happened at 10:00 Eastern Prints from 117 to 157 40 points in 10 seconds I was in and out both ways playing the Opening range. break even trade. Only one that made any money was my broker.
Yeah, thats the way it goes .... But, it was Oso making the analysis back there, not me. So, dtan1e, whuts happening with u today ???
Hi all; Regarding my analysis from yest... in hindsight, all one had to do was look at the other US index futures. YM/DJ was acting counter. The other indexes, inparticular ER, foretold all, imo. By counter action, you'll notice ES, NQ made HOD around 10:45 est (actual time is not important). ER barely mustered a minor retrace. YM continued climbing making HOD around 1:00 (again, actual time is not important) with ER,ES,NQ clearly failing. Market students of the last 3 months or so know indexes (worldwide!) have been moving in tandem. Sometime in lockstep! The trick to dealing with divergence of this pattern is determining who the leader is vs follower on any given day, until the pattern is definitively broken. Good trading to all Osorico
Taking a swing trade (hold til eod) here...This trade is a departure from my normal scalping and is in a separate account. S 1 @33, stop @58 (hod) Will trail (ie adjust) stop every 12 pts. I see potential target as 13050 area, if Im right. 1) no significant consolidation price levels below 2) gann square resistance 3) volume. nope. 4) daily cycle suggests down. As I wrote, trail adjust triggered. Stop now @46
This entry got stopped for NET -14. I still like this thesis and will likely reenter. Taking out the hod @13158 negates the thesis.