well support never materialized, but neither did a buy signal, so I'm cool. took an early trade, made my points and took a nap (god, I was up until 4am last night!). oh well, working and trading ... I asked for it, and I got it. later, JJ
here's the S/R action I was looking at earlier, and while it didn't materalize into a profitable trade (nor was a buy signal triggered), the market didn't drop through by much, either. this is why I use S/R to understand (or at leat attempt to) what the market is "thinking", based on its responses at S/R levels (which ones?, 4re has done a great job, but you have to choose your own for it to start making sense to you), however, I do not use them to trigger my trades jj
I'll tell you what, that 53.75 area got pretty tough. Didn't it. Does everybody see and understand the chart I posted earlier about old support becoming new resistance? If not just ask and I'll try to explain it better but that was picture perfect. I didn't get to trade the break of 1251 this afternoon as duty called. I hope somebody besides the institution guys made money on it. I had a feeling it would be broken yesterday. When we went up instead I though maybe I was wrong. I guess I was juat a day late. But being a day late kept me from making the money I wanted so it don't mean squat. Good job to you to Jimmy. I hope I am not one of the worst traders you have seen on here also. I did see the bullish divergence that the ES journal crew was seeing as well. In fact I was seeing it in different indexes and the Q's. Who knows maybe it will hit tomorrow. Good luck Romik and thank you for your insight and help today. 4re
Hey Everybody, I hope everyone made some money today. I had an ok day but not great. We are coming up to what I think could be a very pivotal Fed meeting. I believe everyone is expecting at rate change but the excitement will be in the next sentence. Will the changes stop or might there be more. You can expect what will happen to the market when we find out. One option will make it dive the other will make it rise. Well here is my chart and numbers for tomorrow: Long 1257 Short 1247 We are going to find out in the morning if old support will become new resistance. If it does expect another down day. Have a good and safe trading day tomorrow. 4re
Boro, Here is the chart of the YM S/R zones I said I would post for you. These are short plays the way I play them but you must remember every trend starts with a breakout of some sort. Long 11072 Short 10980 Hope this will help you and we will get more in detail with it later today. Good trading to all, 4re
BINGO...Got my 2 points and now it is off to work. That one was scary to me. All the whipsaw action this morning was driving me nuts. Hope others got it as well. 4re
oops...I just noticed I played yesterdays S/R numbers instead of todays. Guess I got lucky this morning. 4re