S/R Emini Journal

Discussion in 'Journals' started by 4re, May 15, 2006.

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  1. Well, I learned a lot today.

    I still don't see wat you guys are seeing.

    Great info 5P. But I don't understand half of it so it's hard to keep it into account when I play it using my signals.

    Don't feel sorry or appologies, It's my trade and my trade alone!

    Keep up the good work (and posts)!

    I'll have to investigate that Delta thing, looks great (in your hands).




     
    #4971     Sep 14, 2006

  2. It is hard (low probability) to buy a specific breakout price level when there is not enough initiated buying at that level to carry through zones of holding SHORT positions (from todays 07:30 CST news release).....that is why I said that 29 to 30 would need to be busted good to have a potential breakout today (as I knew there was some post by someone here talking about buying the 28.75 level....I was trying to be nice and give a hint that 28.75 may not be an optimal entry location).
     
    #4972     Sep 14, 2006
  3. romik

    romik

    I see one problem here - how do you determine that short positions have been set @ 07.30 CST? Can they be previous longs closed, is that not a possibility?
     
    #4973     Sep 14, 2006
  4. ndjeff7

    ndjeff7

    I really enjoy reading the posts by 5Pillars on this thread since I also use market delta as a crutch in my trading. I try to keep it simple with the delta's and just really try to pay attention to what delta is doing around my S/R zones on my charts.

    The best use of it today that I saw was in the first half hour when the YM was in the 11590-11595 area which was a support zone. The delta's were all heavily positive when price traded down there so it was a pretty low-risk long setup. I'm looking forward to hearing more from 5Pillars and everyone else!
     
    #4974     Sep 14, 2006
  5. What do you mean by initiated buying?

    Thanks
     
    #4975     Sep 14, 2006

  6. Oh...today there were a fresh set of SHORT's that hit the market in that zone when the a.m news was released.....so I had that as a mental note today.
     
    #4976     Sep 14, 2006

  7. The "delta" is my wheelchair. :D
     
    #4977     Sep 14, 2006
  8. romik

    romik

    I still don't get it, looking at 1 lot sold, how do you know whether it is a short or a closed long position?
     
    #4978     Sep 14, 2006
  9. New heavy buying hitting right at the resistance zone that is mixed with then forced SHORT covering from holding SHORT's at that zone...............you could say some of the "initiated" buying was involuntary at that point.....LOL! :D
     
    #4979     Sep 14, 2006
  10. I think it needs some sizable changes to the index, like when GOOG was added or the Russell 2000 rebaancing in June 30.
     
    #4980     Sep 14, 2006
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