Tomorrow's Chart Today-Part 2

Discussion in 'Journals' started by interdim, Jun 12, 2016.

  1. interdim

    interdim

    We have a Sym Valley Broken Sequence on the Daily today...That chart was provided a few days ago. I expect a reversal off of today's High on the Daily. Because of the Daily Sym Valley I expected the trend traders to buy the market back after the 1230 Sym Valley sell off at what ever support mechanism could be found. How much higher will they go, who knows? But I think we are close to ceilings for this rally. We have a Sym Peak Broken Sequence at 1500.
     
    #61     Jun 29, 2016
  2. interdim

    interdim

    I thought they might end up closing at or near the 1230 High of 2059.75. It got there and of course it was bought back, but we still have time. 1600 Q Valley set up the 1530 High and that is when some covered and started selling. 1500 Sym Peak was a classic continuance as they sold it off but it was bought back too on the 1500 bar. Our Daily Bollinger Band Moving Average is not far away.
     
    #62     Jun 29, 2016
  3. interdim

    interdim

    Nice reversal off of the 1600 Q Valley Low to new Highs which I should have known would happen in these market conditions.
     
    #63     Jun 29, 2016
  4. interdim

    interdim

    ES_6/30/16 Q Peak 900 1400...Q Valley 830 1330...Sym Peak 630 1230 1600
    Sym Valley 830 1200
     
    #64     Jun 30, 2016
  5. interdim

    interdim

    You can see the turn was made at 830 on the Sym Valley. Now will it hold through the morning
    opening and continue up? Will the market break 2062.50, then follow through and continue down, or will that be an area where buying kicks in again if they get there? When trades are made always protect yourself. We are in a Q Peak at the moment which may cause the market to reverse and go back down, that is why I play the various scenario's in my mind to avoid losses and make money.
     
    #65     Jun 30, 2016
  6. interdim

    interdim

    Personally I always have a 5 point target for all intra-day trades. Depending on market conditions I may have to take 3 or 4 points, and I am not shy about taking a break even trades.
    Right now a break even stop is in for the 830 trade.
     
    #66     Jun 30, 2016
  7. interdim

    interdim

    Stop hit for break even trade. A 5 minute Bollinger Band was sold hard. Now will I re-enter, maybe. Looks like all they were going to be able to do was overlap the range of 830. This happens all the time, now up up and away? We'll see.
     
    #67     Jun 30, 2016
  8. interdim

    interdim

    If it breaks the 3x2 and Bollinger Band Moving Average on the 5 minute chart then it will likely
    go higher. Right now trend traders will keep selling it until they are taken out.
     
    #68     Jun 30, 2016
  9. interdim

    interdim

    Here is a real high risk trade, if it comes back up buy 2062.50 and if it takes out 2059.00, you're out.
     
    #69     Jun 30, 2016
  10. interdim

    interdim

    Has to break the 5 Minute 3x2 at a minimum to have any chance, which they just did, otherwise they will continue to sell it. All of this is based off of the 830 Sym Valley.
     
    #70     Jun 30, 2016