Could be, Junkie. So far today Russell futures price tried to
move above value area premarket and was sold down quickly. Then the
opening push was right to the value area high which was rejected
immediately. Now price has broken down below value area and
overnight low after backtesting the point of control. The levels of
support below that I see today are 1158-59 / 1153-54 / 1147-49 then
a lot of air down to 1134.
The past few days have been balancing days with overall sideways
to slightly down movement that is digesting the BOJ pop. Price
& value are still higher than the pre-BOJ pop. So the bias is
still sideways to up until the next real move materializes.
I took a short on breaking yesterday's lows, took a profit on an
initial move and was stopped out this morning out of hours (I was
holding a contract overnight) at 1169.3. It is chopping around, and
I wonder what level is important to break for a good trade down to
your numbers. The symmetry is broken below 1156 on the cash
index.
Could be, Junkie. So far
10 point move back into value area on TF - ...
Posted by a_l_ on 6th of Nov 2014 at 10:32 am
Could be, Junkie. So far today Russell futures price tried to move above value area premarket and was sold down quickly. Then the opening push was right to the value area high which was rejected immediately. Now price has broken down below value area and overnight low after backtesting the point of control. The levels of support below that I see today are 1158-59 / 1153-54 / 1147-49 then a lot of air down to 1134.
The past few days have been balancing days with overall sideways to slightly down movement that is digesting the BOJ pop. Price & value are still higher than the pre-BOJ pop. So the bias is still sideways to up until the next real move materializes.
I took a short on
Posted by junkie on 6th of Nov 2014 at 12:51 pm
I took a short on breaking yesterday's lows, took a profit on an initial move and was stopped out this morning out of hours (I was holding a contract overnight) at 1169.3. It is chopping around, and I wonder what level is important to break for a good trade down to your numbers. The symmetry is broken below 1156 on the cash index.
...and more balance - meaning
Posted by a_l_ on 6th of Nov 2014 at 11:21 am
...and more balance - meaning TF price really just oscillating within value area most of the time and around the point of control (1M timeframe here).