I'm short, but it's constantly fighting right at this level. Could be sizable buyers and Maverick collecting sellers here for the squeeze and the impending failed A down. It looks good to me, but I recognize it can go either way now, given this behavior.
Same for me as well. Although I didn't clarify: I'm short AUD. I wouldn't short ES so far from the monthly. Unless you mean AUD tends to be correlated with the spoos (which it does).
So here is a number line update: ES 0 CL +5 Very impressive but failed at the monthly A up today ZB -1 GC +3 I blew out of my long yesterday when it failed to take out the weekly A up at 1803 ZC +9 ZS +4 ZW +8 Grains showing a lot of strength this month. Corn has 5 A ups this month! KC +9 Coffee also looking really good, 5 A ups this month as well. CC -5 NG 0 Nat gas sitting right at the monthly A down at 3.64
Yeah, I said next on it. I'll see if it stays below all the right levels and makes an A down tomorrow (unless there's a large gap). But there was too much liquidity in my entry zone. Haven't gotten off my ass to start looking at the number line; looking at the charts it probably isn't pointing that way yet anyway.
I havent really looked at weekly OR's yet, but might do it for more of a macro look (since I day trade.) I know this was touched on earlier, but are you guys using each Monday's H/L as the OR? Or are you using the first week of each month? etc. I know MF said the first week in January (and then resetting in July) were "statiscally signifigant." I'd go back and look it up, but not sure where it is in the thread. I am just looking at peoples different interpretation on how they use weeklies.
Everyone has their own OR for their own reasons, the important thing is that once you get one that works for you, you stick to it. As a day trader weekly levels could help you to read intra-day price action around key weekly levels, but if you have something that works for you on an intra-day basis, why complicate things? The more I re-read the book, the more I see the value of keeping things nice and simple.