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FESX Trading Journal Using GOM Indicators
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FESX Trading Journal Using GOM Indicators

  #81 (permalink)
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PMA for August 14

We kept balance today.
It seems that the value is moving lower, despite (or maybe because of ) a couple of buying tails during the last short-term trading range. We will see if the "magical" level of 2400 will hold.
Today we closed within value, however the final buying could have been just short covering. This will definitely be resolved tomorrow.

In the long-term, all remains the same. We are near a long-term range high so we need to watch out for any responsive selling activity.

Happy trading

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  #82 (permalink)
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PMA for August 15

Perfect balance today, close very near POC. Very light volume. Limits seemed buying for the whole day but with such low volume...

2430-32 is now a POC area for long-term, short-term as well as today. So the fight is going to be somewhere in the area of 2400, 2417 and 2432.

Buying tails become smaller, the volume today is again in the lower part of the profile. All remains.

Happy trading.

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  #83 (permalink)
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PMA for August 16


Still balancing, nothing new, light volume. Another test of ST range low, no tail this time, though the morning dip was used for limit buying. Close in the upper part of value area.

Happy trading.

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  #84 (permalink)
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PMA for August 18

Finally, the limits drove the market today to a bit of an uptrend, but still within the long-term range.
Light volume, value is now behind price. Limits again mostly buying.

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  #85 (permalink)
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PMA for August 20

Friday was a nice balance day, a breath-catching day after a sharpish up move, with a few tests of the low of the day testing the high volume node from Thursday and an almost second test of the high that has not yet been confirmed.

Limits were buying most of the day, especially during the dips. All is set for a further up move to attack the high of the long-term range since we have moved away (up) from a long-term high volume node. But I guess much more volume would be needed to overcome the resistance at that level. But the market will tell.

Happy trading.
Hana

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  #86 (permalink)
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PMA for August 21

A perfectly neutral day today, an omen of change , the fight now begins, though with little volume.
Volume POC is lower than time POC, limits remained neutral today, no more buying to the highs.
Sellers showed much sooner than at the LTF range high (close to 2535), the market did not ever reach the "round number" resistance at 2500.
Still, the "jump" up from the support at 2450 was quite significant and we closed back in the middle again.

Enjoy the fight .
Happy trading.

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  #87 (permalink)
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PMA for August 22

No more limit buying today, just selling.
Much volume traded near the top of the daily range.
Close near VAL, unconfirmed buying tail, will probably be tested tomorrow (again).
Narrow range forming, low volume, not interesting area for trading.
We will see if the market needs more balancing or can start its way down back to previous value.

Happy trading.

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Last edited by hadamkov; August 22nd, 2012 at 02:32 PM.
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  #88 (permalink)
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PMA for August 23

A short term range established and confirmed now.
We tested a range low and the market is now caught between 2450 and 2500.
Selling all day long but not really convincing as to further down move tomorrow.
I would expect more balance but will watch out for any inefficiency.

Happy trading.

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  #89 (permalink)
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PMA for August 24

Lovely down day, lovely "inefficiency" shown right in the morning when the market sell orders visibly "ate" the limit buy orders. So there was only one way today which was down.

We are back at low of the previous short timeframe range, there is a major support (approx. 2400) and would need lots of market volume to penetrate, however we are already past the highest volume node at 2432 (now a resistance as well as magnet).

If the market turns really down, it is difficult to estimate the length of the move because there is not much volume to resist. Otherwise we might get back to a lulling balancing market again.

Sell zones: 2450, 2433
Buy zones: 2406, (2415), 2380

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Observation


It is almost 90 mins in the trading day and I can see some attempt to consume the buy limit orders by sell market orders. We will see if the support is strong enough to hold.

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