YM Session Levels

On days like today, I tend to hold onto a position in favor of a direction. In this case, I am holding long at this point.


I know that we opened within my value levels, moved back into yesterday's range. So initial selling conviction was not great. I know that buyers are holding the bottom of the range. Locals are trying to take the market down below 351, but so far they can not overcome buyers.

So I am long looking for 422, then 466. I also realize that a move above yesterdays range is less likely.

 

If we do happen to enter the distribution above 422 this afternoon, 497 is also a viable target.

 

1/2 off my longs at 455.

If we do move back down to 422 -407 I will add.


Out at 11456 on the failure at 464.


+104 on 1/2
+113 on the other half

 

above 466 targets 497


fnancials still down though

 

short at 459 target 422

 

stop to be

 

+37


Did not get filled long yet


I have had a good day, I decided to take my long order off. I'm done.

 

If we don't take out the 59-66 area, then we may trade back down to 351. So this level is very important today and into tomorrow.

 

Hi,

Great Trading!

I'm just a newb learning to trade the YM. It was impressive and educational (though way over my head) following your posts today.

Hope you keep posting. Maybe I'll learn something

 

Very very nice DTL!

And what Im most surprised about is that it seems I am not alone! :eek: Your "levels" are eerily similar to what I use. My levels are my bread and butter, once I've honed in on a direction.

Anyway, I thought I'd post this month-to-date YM 15m chart... "fuzzy" lines are POC (Point of Control) and as you know, tend to have magnetic personalities. Dotted lines are "old" poc values, the value is in their clustering or lack of. Notice todays highs for example. The MAs are just 50 and 200 sma (which I don't use in any specific way, other than to see what "everyone else" is looking at. )

Notice the 284. spooky huh! I may have missed it in your postings but also notice the 771, and the generally even dispersion of the "old" pocs between here and there. [wink]

If zoomed out through July, below 284 exists an oldie 11170, and the big one 030-055. With exception of 170, it's all big air from 284.

Keep up the good trading and postings. It will be interesting to make note when/if you and I diverge in any substantial way, regarding levels.

Osorico