Well you are certainly well outside the box as far as I am concerned. This morning you sold an obviously rising market and when it rolled (rotated) you sold it back down again (apart from one trade when you flattened just as the trend changed to short) Keep up the good work. This is a learning thread. jjf
Properly thinning out position for any retest of the HOD or 924-927 zone......price will many times retest highs so that needs to be kept in mind on a hard rally.
AMT, was a new layer of short inventory added today at 920.50-923.50, or should we only concentrate on the previous zone of 924-927?
BINGO sir.......UNTIL the Delta Zone at 924-927 is busted out it still remains as an area of significant resistance to this point. Also, Auction Market Theory states that a FAILURE to bust this type of zone (resting supply), will cause price to have a high probability of trading back to the next significant zone (resting supply) at the other end of the current range.
The CD, as anyone using a tool that tracks it (I/RT, Ninja/GomCD, etc.) can judge for herself, IMHO is NOT a reliable indicator, at least not by itself, or should I say, at least not in its simplified form when you try to detect divergence with price action. Now someone needs to write a book about how to make money with CD and that will seal the deal on the self-destruction of this indicator. Who said the market is not efficient? D. BTW I'm still using CD... just not trusting it wholesale.
Yes we do have "layered" zones now......this is common at areas that do not breakdown (inventory accumulation taking place). I will still focus primarily on 924-927 on any price return to that area.