If I read the chart correctly there was a reaction high at 1281.75, so entry's at 1271.75? Too bad I can't post during work, or else I'd be more active on these boards
9.5 points ? Did the hard 10 style miss yet another signal ? Flexibility is key, 9-11. This is not about getting in exactly 10 points from the exact reaction low or high. If it hits 63.75, you don't have to try to get filled at 73.75, I look for the zone, so if it touched anywhere in 63 then 73 will get my attention even though that is only 9.25 points away instead of 10 exactly.
I have toyed with stops and the ranges for years now. 9-11 range with a 3 point stop seems to be pretty much the winner, but what do I know.
What was the reaction low from where this move started ? What is 20 plus it ? where did this pull back from ? 71's look buyable, ihs pattern setup on the daily and 50% retracement level.
My point was that maybe there is no logical explanation why the 10 points seems to be the best. But if you know why, I am begging you, because I can't go to sleep until I know the answer! (maybe a huge HF's blackbox is set up that way) The best part is that we don't even need to know, as long as it works!
By the way, are we going to credit 1279.5 as a legit short entry? So far hasn't been stopped out and up 6 pts....