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ES and the Great POMO Rally
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ES and the Great POMO Rally

  #891 (permalink)
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josh View Post
Thanks Massive -- what is the blue line on your chart?

That's the close shifted 1 day ahead

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  #892 (permalink)
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Massive l View Post
That's the close shifted 1 day ahead

Is this just for the convenience of not having to look back for the prior day's activity? Or do you use it some other way?

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  #893 (permalink)
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josh View Post
Is this just for the convenience of not having to look back for the prior day's activity? Or do you use it some other way?

I use it for s/r (confirmation for entry) and also time (divergence of today's price with yesterday's action for trend changes or trend continuation). This is if the market fades towards my lower support level. I still am looking for longs
until the market tells me otherwise.

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  #894 (permalink)
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I use it for s/r (confirmation for entry) and also time (divergence of today's price with yesterday's action for trend changes or trend continuation). This is if the market fades towards my lower support level. I still am looking for longs
until the market tells me otherwise.

Very interesting--so do you look for things to happen at specific times of the day typically, or do you usually look for it only with respect to the prior day? In your chart for example, what might you be looking for around the time of the 2nd orange box?

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  #895 (permalink)
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I will also tend to look long until the chart says different, but the only impressive volume today was the stopping volume that happened at 1252. Look at this daily volume for the last two days, breaking out of the range. Not exactly bullish, IMO.

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  #896 (permalink)
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Very interesting--so do you look for things to happen at specific times of the day typically, or do you usually look for it only with respect to the prior day? In your chart for example, what might you be looking for around the time of the 2nd orange box?

I use it for both. That's around the New York S&P cash open. Looking to see how price opens compared to yesterday. Nothing special.

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  #897 (permalink)
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I will also tend to look long until the chart says different, but the only impressive volume today was the stopping volume that happened at 1252. Look at this daily volume for the last two days, breaking out of the range. Not exactly bullish, IMO.

I agree....not very bullish. I'll look for demand tests around 1248 (today's POC)
and supply tests around 1240.

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  #898 (permalink)
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My top resistance was on the money for a touch short if you were up! (1253)
That's one of my favorite low risk trades.

I went short at 1240 out at 1233 (2 days ago POC)


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Last edited by Massive l; October 25th, 2011 at 12:41 PM.
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  #899 (permalink)
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My top resistance was on the money for a touch short if you were up! (1253)
That's one of my favorite low risk trades.

I went short at 1240 out at 1233 (2 days ago POC)

Nice job -- what are your top resistance and bottom based on?

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It's based on a modified volume profile that I coded.

I went short again at 1240. Took me forever to get logged in.
Internet is not working right today...

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