Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
1743.25 was my visual look at the chart for the low.
Bernanke is speaking tomorrow so perhaps a ramp - then my estimates are way off.
Also is the possible of a repeat of last Thursday tomorrow.
Tomorrow? big question mark.
I think it could be a repeat of last Thursday so "lightening bolt". (so 73.25 down to 44)
Last Thursday was -19.25, +9.25, -19.25
Hard to guess in these markets.
The other option is to just churn about in 10-12 range centered around the open
"Auto" was the computer estimate - (I finalized on 1787.5 and 1774)
as the est range was 11pts that means no trading for me.
When high stop is close 1789.50 then as it approaches this the 87.50 would go up to this
My estimates were too low with the Low est off by 6.50. As there was a double low today with 1788 at 8:43 and then at 10:54 you would have abandoned the hope of getting to the low and gone long.
The final range was 8 points versus the estimate of 11 pts. - a very narrow day -as expected.
I'm glad I didn't try to trade it.
---------------
Though I had the first push down and then up correct, I wouldn't trade this as I like to see the potential for 6 points.
The FP trade would have been filled but it only when a couple of points and not worth the risk, for me.
(You see First Trade Sell first signal - this wouldn't show if my low estimate was closer to the mark as first trades need at least 5 points profit potential So I don't blindly follow any one signal or estimate. If I had I undoubtedly would have lost money by not closing at 88 and waiting for more downside. This is where the minimum 12 pts estimated range helps.)
FEa (short for First End a - there can be a double First end some days and that is what FEb is for - but not the case today.)
The night before I draw two lines on a 30 min chart as a visual guess of HOD and LOD.
These show in the evening estimates as "Visual". Naturally they can be way off. Though I make night before estimates they are move for when I have more time and can review them to see when they were correct.
Sometimes on of the visuals works for the o/n session - which would be potentially useful if I know when and if I was trading o/n. (Sometimes the best entry points are in the o/n session.)
Here are the ones I made Friday for today (mon 18). I'm posting them because there was a "P" indicator. that is potential peak. Sorry not sure how often it is correct maybe Ill find time on the weekend to check.
