Discussion in 'Journals' started by interdim, Jun 12, 2016.
5 point target hit, out and done for the day. This was not an easy day.
ES_6_22_16 Times to watch today for turning points are 1200 1330 1530. Of course there are other moves that can be identified if you read what was written in previous post. For example yesterday the 1600 Q Peak was going to cause a reversal from the 1530 Price High. But there is a limited amount of time that I can be posting or trying to describe the detailed aspects of what is happening.
It's going to get choppy now, for the next 2 hours. You may see some good swings but
better know how to play them in a precise way.
Wrong about the choppy part as from the 1200 time frame they pretty much took it straight down. The Q Peak distorted 1200 and some were wanting to buy after the initial drop but 1200 was a Sym Valley High. A 1330 Low is in and if you got long at the Bollinger Band (77.50) you are in good shape or on the close of 1330 (79.50) you are okay at the moment and have a manageable trade. It's always best to buy or sell the extremes if possible. 1400 will be tough to deal with as the market will decided whether to continue back up or try to take it back down off of it. If you bought the Bollinger Band low you may hit a 5 point target soon.
Bottom Bollinger Band buyers hit their 5 point target, at the close buyers of 1330 got close and taking 4 points is fine. There was little risk no matter how you played it and that's important. If you want to be aggressive you could sell it here at 82.00.
They sold it, hit the 5 minute Bollinger Band Moving Average Band and bought it back but I'm not so sure we will be up and away. I was looking for 1500 or 1530 to be some kind of low. This kind of trading goes on all day.
The main thing in this business is to always protect yourself, because anything can happen. You must know your data intimately and how the market (price behavior) responds to it. This is what data modeling is all about. If you hit 76.75 a 5 point profit target will be hit from the 82.00 aggressive sell I mentioned. At this point a break even stop would be in place. If one wanted to be aggressive again you could buy during 1530 or at it's close.
They wasted no time buying this market after 1500. No surprise there as a Q Peak was involved with the 1530 Sym Valley. You really have to read and study this data to completely understand what is happening. I am debating on how much longer to post.
Read and study what?
You haven't said how you derive the squiggly lines you posted. Are they peaks/valleys of yesterday projected onto today?
What is the difference in Q and S? Tangent and non?
Did you learn at the knee of Jack Hershey?
It is too overwhelming to trade and try to post during the day. So I am going to have to rethink this entire endeavor.