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Yeah there's always something that looks different in a different timeframe! I look slightly longer term than you (I think), and a pinbar on the 15 min seems to work well as it shows that price (for me at least) is really reacting to an area-something that isn't so apparent on smaller timeframes. It's a visual clue to the speed of a reaction to a certain area-I find that looking at the DOM doesn't give me that visual aspect, hence the need for a chart!
Happy trading-am out of the office tomorrow and Monday and back Tuesday so may your levels be sound and may your profit taking be spectacular.
A better day yesterday - all it took was a 40 tick move & PA became a lot clearer, flow was nice, & some gd opportunities. Hopefully today is more of the same, but it is friday in a holiday week. Failing to close above the all time highs indicates indecision & the selloff was TY driven, so dont have any view on the day, with a pin bar from yest but the range is still small i cant add too much weight to that. Support is still holding from wednesday.
This looked gd - there was just a lot of selling levels above it. However, the buying on way up seemed quite strong, so was still tempted to buy the 14s which was great flag on the 1min. Then rumour came over the squark saying possible ecb buying after it had held 20s level, so i wld have been extending my targets above 24.
Very light vol if ecb are buying bonds, cant imagine lasting as long as last time.
great area & setup, traded 09s i had my target in @ 07s with limit order as had to leave the office - that was realistic target but perhaps i shld have taken one off earlier, shame. i came back in when i was just getting stopped out - rumour was that a figure was leaked & the tnote & gilt rallied quick, & as has been the case this week the bund followed.
i will be glad when paper returns nxt week. the ecb is QE'ing, the US isnt, yet the yields are strongly correlated, the last hour its corr coef ~ 0.92 (~0.90 v the tnote). One to remember when its just algos.
Sold 71s paid 57s which puts me up for the day, had v tight stop as no LLs but was once it made new low was looking for early 50s....55 i think was best buy.
cheers dude, not traded really, was selling 35s & paid up cpl of ticks. dont like this correlation in the gilt at all, if gilt goes through 00s level then cld hit some stops, v dangerous around here.
