Hey yall. I haven't gone anywhere. I had some errands to run this morning, which I really didn't have a problem with when I saw the buy formation setting up. I don't know about you, but I'm not playing musical chairs with the last minute perma-bulls at this point in the game. Here's the pivots. R1 - 1363 PP - 1358 S1 - 1354 So long as price action keeps jockying back-and-forth between the R1 and S1 no new money is coming into or going out of the markets. Best Regards, JJ
True to my word, I'm short (actual price 1359.25 if it matters). Let's see how it works out. Regards, JJ
yo JJ sorry if this question is too newb, but is the idea that once price touches R1 and fails to break it will be pulled back down to PP? I am trying to figure how you got your short call there, I went long about that same time for a quick 1 pt scalp, but I am not ruling out luck on that one...
JJ I really appreciate your thread it is great reading and very well spoken without a bunch of rude comments I know this is off subject, but I am curious what trading platform and Broker you are using and how happy are you with the overall performance.... Thanks for
FTR, the traded ended at scratch (-3 bucks). Ranges are being squeezed super tight, eventually they are going to break-out ... and I'm not betting to the upside. Regards, JJ
I use Global Futures/IQFeed/Quotetracker/NinjaTrader. So far pretty good. Eventually I might go to Interactive Brokers though ... we'll see. Regards, JJ
That's a paintbar of a proprietary moving average that I use. Put a 20ema and a 34ema on your chart and you can achieve a similar effect. Regrards, JJ
S1 tends to support price action and R1 tends to rejected price action when the markets are range bound. They are going to breakout one way or the other, so, that won't be holding true for forever. Try to use the advancers/decliners to help you make your trading decisions. Check out the article from SwingTrader64, maybe it will help to give you some insight into how to use the A/D Line to assist you in your trading. http://www.elitetrader.com/vb/showthread.php?threadid=53398&perpage=6&pagenumber=2 Best Regards, Jimmy
Tomorrow's Pivots R1 - 1363 PP - 1358 S1 - 1355 If price action breaks below 1358 the Bears will finally be getting their due. Regards, JJ