Base hits guys, base hits.....they add up fast and win most games! OH...and I forgot to mention the ES days cumulative "delta" has been negative most of the day......now down over -10,000 contracts.
nice one, thanks. But wouldn't you say 10k in comparison with over 500k already traded does not really say much.
How do you determine the angle for the bottom yellow trend line? I would have drawn it a little steeper.
Tnx for the feedback romik It's all about what chart you are using i guess. Now I have a valid triangle... What chart are you looking at? What means 155b/2?
No it is showing that we have a lack of interest and no "accumulation" yet ----- more like overall equilibrium with sideways range chop at this point of the day. Also, there is a bunch of sellers between 1329.00 and 1330.00 that we would need to get through to get a real push today.
For those of you who scalp for 1-2 points on ES and haven't looked at the ER, consider: ATR(10) ER=10 points or $1,000 ATR ES(10)=10 points or $500 To get a 1 point or $50 profit on the ES you need a 1.50 move (due to selling on the bid buying on the ask). To get a $50 profit on the ER you need a .70 point move. Which is easier? .70 of the ATR of 10 is a smaller move than 1.50 of the ATR of 10 by half the amount. Of course, this works both ways, but for scalping I have found the ER to be easier than the ES.
I am not sure how this thing is going to go. I have a pennant but if I look at a 15 minute chart looks like it would go down if I look at a 60 minute it looks like it will go up. You could probably play it safe and go long one a complete breakout at 1328.75 or short at 1324.00