well, 61.8% retrace broke on 3 day time frame for YM. Bouncing on 78.6% now. Heading to 11560??? I might look for another short setup, however it is late in the day and reversals around 2:50-3:10 happen often.
Spike500 uses projection of time to target trend continuation. Not exactly sure how he uses it but its a high probability event. He even made some good calls if I remember correctly. Toss a coin and have a guess Porgie.
Question for 5 pillars: How does your delta handle program trading? ie: Today, you'll note that almost all tick extremes were on the plus side, indicating buy programs. When these happen you get selling of the spu's and buying of the cash. The volume at that point is not directional as it is hedged. I'm not sure it really matters, but I was just curious (by the way, I tick trade throughout the day, so I do watch the tick and tiki).
Downside seems limited to me. Maybe we will test the lows and beat by a tick or two at best. Dont get caught in a possible small rally to close.
negative divergence on ER2 and positve on YM. possible 3-3:15 reversal setup. I'm done trading for the day. Expecting choppiness into the close.
I have the TICK up on my charts but I have found that I pay moderate attention to it......the "delta" signals I use are not in any way hindered by "sell" or "buy" program activity. It is still going to take a positive delta to move price up and a negative delta to move price down (intra-bar)............the "delta" keeps me knowing at all times what the "net" affect of the order flow is (or the "conviction" in the order flow).