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DTs Pre Market Prep
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DTs Pre Market Prep

  #571 (permalink)
Market Wizard
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Maybe this can help:

https://futures.io/elite-trading-journals/30687-one-evolution-time-16.html#post501689

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  #572 (permalink)
Market Wizard
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2nd July

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We are still within Mondays range, so whilst it does look like we are headed back up off a failed move through the 56.75 level, I still have an open mind about the possibility of a failure at/before Mondays low and for us to end the week lower.

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Which means today is pretty simple. We have yesterdays overnight high and Mondays high above as lines in the sand and below we have yesterdays value area and the low as potential support. So I'll be happy to go long into Mondays high as long as we get a move down to a level first. I think if Mondays high holds, we have great downside potential.

Weekly Numbers
Range 2046.75 -> 2083.25
Value 2058 -> 2075.50
S1 - 2080.75, R1 - 2116.50


Daily Numbers
Range - 2054.25 (globex) / 2059.75 -> 2074.50 / 2077.50 (globex)
Value - 2062.50 -> 2070
Globex - 2067.50 -> 2076.25

Settlement - 2071


Long Term 2126.25, 2102.50, 2073.50, 2056.75, 2023, 1992.25, 1946.25, 1860

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  #573 (permalink)
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3rd July - Happy Independence Day - no trading for me as it's a half day.

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  #574 (permalink)
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7th July

My apologies for lack of prep yesterday, I was having PC issues...

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Taramasalata Market.

Obviously the market is all over the place with the Greece issue remaining very much unresolved. At any point we can get sideswiped with news that will cause a reaction (or an overreaction). With this in mind, we really need the market to settle down in order to come up with any predictive scenarios. So today, I'm going to just watch it play out. I'll still trade, with an ear to to the news squawk and look to enter smaller positions and scale in if I see it running one way.

So the volatility is nice but I would like to work my way into the right side of it and be fairly free of the risk of an unannounced news event - like the Greek PM wearing a tie.

So for today, I don't have any levels other than 2079. I don't like to lean to much on the activity of holidays & heavy news driven days as to me, they don't really represent repeatable behavior.


Weekly Numbers
Range 2046.75 -> 2083.25
Value 2060.25 -> 2075.25
S1 - 2048 R1 - 2084.50


Daily Numbers
Range - 2034.25 (globex) / 2049.25 -> 2070.50
Value - 2054.25 -> 2064.75
Globex - 2064.50 -> 2078

Settlement - 2064.50

Today only - 2079

Long Term 2126.25, 2102.50, 2073.50, 2056.75, 2023, 1992.25, 1946.25, 1860

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  #575 (permalink)
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8th July

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As expected an interesting day yesterday. I had my news squawk on waiting for news on Greece but had to turn it off because there was nothing but news about Greece and this is a squawk (financial juice) that is normally fairly quiet intraday.

I guess we do seem to be marking out a range 2034.25-2079, so I'm watching as that develops. What was very interesting yesterday was that although expectation was it'd be really wild and my plan was initially to scale into a trade. We moved down off the 9:30am open, they came back up to the open and just couldn't get there, then the market took a nosedive.

So the failure at the open, which is a pretty 'ordinary' trade, was still up for grabs on what was an extraordinary day. So that's food for thought to take into today.

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Trying to pick tops and bottoms in this market is very risky and there's plenty of room in trades after the reversal. So once again, my plan is to not really be looking at any specific price levels other than the 34.25/79 levels and just try to get in with a small position and build up. If the market does what it did yesterday on a re-test of the open, then I'll of course fade that full size. But my plan is the same as yesterday - it's a risky day that could put in a major move any time on unexpected news.

So first and foremost - capital preservation is on my mind.


Weekly Numbers
Range 2034.25 -> 2078
Value 2046.75 -> 2070.75
S1 - 2048 R1 - 2084.50


Daily Numbers
Range - 2035 -> 2076.25 (day) / 2078 (overnight)
Value - 2039.74-> 2063.75
Globex - 2042.25-> 2074.75

Settlement - 2073.75

Today only - 2079

Long Term 2126.25, 2102.50, 2073.50, 2056.75, 2023, 1992.25, 1946.25, 1860

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  #576 (permalink)
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9th July

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More of the same. It is wild but we do seem to be bracketed between 2034.25-2079 still. Although I wouldn't fade either but would play a continuation off a reversal off either. So into today, we appear to have failed to get to 34.25, so it's not unreasonable to expect us to traverse to 2079.

But it's a news driven unpredictable market that could get whacked either way any time.

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Overnight we've stayed in yesterdays day session range, so we should pay attention to those extremes. I'm looking for signs of the market settling down. So eyes on volume today, if we see lower volume, we can expect more normal behavior, if it's still high, we have to expect the wild swings.

As per the rest of this week, in these conditions, I can't really go in with scenarios in mind. It has NOT been unfriendly intraday so far, so I am just going to play off intraday moves - fails at the open (2 days in a row that has worked) etc.

Weekly Numbers
Range 2034.25 -> 2078
Value 2042 -> 2063
S1 - 2048 R1 - 2084.50


Daily Numbers
Range - 2036.25 -> 2061.75 (day) / 2074.75 (overnight)
Value - 2043 > 2055.50
Globex - 2038.50-> 2061.25

Settlement - 2039.25

Today only - 2079

Long Term 2126.25, 2102.50, 2073.50, 2056.75, 2023, 1992.25, 1946.25, 1860

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  #577 (permalink)
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10th July

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For todays prep, I should probably just put "see yesterday". We are still working within the the 34.25-79.00 range. So today I'll be watching that range as well as yesterdays range.

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Three days in a row we've had tests of the open price give us good entries. Yesterday was a test of the overnight high, then a push thru the open price then we tried to get back to the open but failed and the market took a dive from there.

So whilst it is wide and rangey, it's behaving nicely. Today we have a nice push up overnight which is similar to what we did overnight the prior day and then the market sold off. So we may not see the 34.25-79 extremes but it's worth watching the open & other usual levels for failures.

We need to break out at some point but it could just be a (relatively) lazy Friday because even if we don't break out, we could still have a great range.

Weekly Numbers
Range 2034.25 -> 2078
Value 2044 -> 2064
S1 - 2048 R1 - 2084.50


Daily Numbers
Range - 2038.50 (overnight) / 2039.5 (day) -> 2068
Value - 2048 > 2062.50
Globex - 2038.25-> 2066.25

Settlement - 2041.25

Today only - 2034.25, 2079

Long Term 2126.25, 2102.50, 2073.50, 2056.75, 2023, 1992.25, 1946.25, 1860

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  #578 (permalink)
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13th July

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Looks like the sky is no longer falling in. Looks like Greece and Europe have come to an agreement but we still have a very high risk of intraday news coming in and rapidly moving the markets. So for now bias is up.

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Our ideal scenario would be a downside test for a long. Two areas come to mind. The 2078-2079 area that would represent a retest of the range high of the past 8 trading days. That does look a little close to where we are, considering current volatility. So also looking at Fridays high/value high. Below that, I'll be looking for shorts.

Weekly Numbers
Range 2034.25 -> 2078
Value 2043.50 -> 2065,50
S1 - 2043.75 R1 - 2085


Daily Numbers
Range - 2038.25 (overnight) / 2059.50 -> 2074.75
Value - 2065.50 > 2072
Globex - 2052 -> 2087.50

Settlement - 2069

Today only - 2078-2079

Long Term 2126.25, 2102.50, 2073.50, 2056.75, 2023, 1992.25, 1946.25, 1860

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  #579 (permalink)
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14th July

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A bug push up out of the range yesterday, so looking for continuation upwards. Still with an eye on 78-79 for support (the high of last weeks range) if we do come back down.

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All the fun yesterday was had in the overnight session, with a narrow intraday range. We moved down to 2084 off the open which was the top of the closest cluster of volume from overnight.

We can see that the overnight range is very small. We can see potential support at 2086 but we could be heading into a summertime chop day unless we get some news to drive it.

Weekly Numbers
Range 2034.25 -> 2078
Value 2043.50 -> 2065,50
S1 - 2043.75 R1 - 2085


Daily Numbers
Range - 2052 (overnight) / 2084 -> 2094.75
Value - 2086.75 -> 2091.25
Globex - 2091.50 -> 2095.25

Settlement - 2094.50

Today only - 2078-2079, 2086

Long Term 2126.25, 2102.50, 2073.50, 2056.75, 2023, 1992.25, 1946.25, 1860

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  #580 (permalink)
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15th July

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Volume and volatility dropping. we have got through the 2102.50 level so an eye on that today.

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Overall this week, we can see what appears to be a nice uptrend. Move, consolidate, move, consolidate etc. If we break below one of the consolidation zones (the peaks on the profile), then we can start thinking about downside.

So right now - 2095 is the top of the zone below, so eyes on that.

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Also eyes on 2098.50 - the late pullback from last night and also the VAL.

Greece seems an odd one. It's more of the last 2 bailouts that just got Greece more stuck. I'm still expecting that could hit us sideways ant moment.

So initially looking for signs of continuation up with 95, 98.50 and 02.50 as potential support. Below 95, we may be done for the week and be looking to move to retest last weeks highs - the 78-79 area we've been looking at.


Weekly Numbers
Range 2052-> 2107.50
Value 2076.50 -> 21-07.50
S1 - 2043.75 R1 - 2085


Daily Numbers
Range - 2090.50 (overnight) / 2091.50 -> 2105.50
Value - 2098.50 -> 2104.50
Globex - 2099.25 -> 2107.50

Settlement - 2102

Today only - 2078-2079, 2095

Long Term 2126.25, 2102.50, 2073.50, 2056.75, 2023, 1992.25, 1946.25, 1860

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