I use tradersaudio.com with Ben Lichtenstein...imho..it's a MUST for daytraders......once you train your ear for what to listen for, you can usually gauge when the moves are real (institutional buying/selling) or fake (locals only in the pit)...in addition, it's most value is in gauging the strength of the open... so goes the open..so goes the rest of the day.....
I have a saying... you're not trading chart patterns or indicators.....you are really trading order flow (the flow of orders by the institutions).....
Excellent. I turned my computer on just before 0830 EST and wasn't expecting the reaction to the jobs report. Plus I was still asleep. So I just watched and saw how clearly price was ramming 35 (your 94) to no avail. So I made that my new R (this is an example of what I meant when I said that one has to put bias aside and watch what traders are doing). You did pretty much the same thing with the ES. However, when price fell instead back to what had been R at 25 (your 92/93), and there was nothing but air below that and the PDC, and the bounce cleared that line nicely, I put in a short at 25. This was good for my 4. I then put in another one below the next SP at 17 (what the hell) and that was also good for 4. So, I may be done. The moral being that you still have to do the preliminary work, just as you need some sort of map before going hiking. But then, when you get there, you have to set the map aside and look at the territory that's in front of you. Sorry about your -2. Bummer. P.S. If we hadn't broken the "trend" line, I'd've put in another short at 11. PPS. Since there's such serious S at 10, I may just do it anyway.
Incidentally, 4re. Your comments about your choice of 2pts are nicely illustrated today. Note that the extent of the movement past each SP on the way down this morning was around 2.5pts. To hold for more would have meant getting less.