/TF (Russell Futures) back tested 5 EMA on 60 min. Very week.
One more down push would set up some divergence. Or perhaps there
is an opportunity to short from the bottom of the value area (VAB).
at 1166 area. /TF has been very nice for trading today.
There was decent positive divergence on 10M and lower timeframes
when TF hit S2 at 9 am Pacific. Now an inverse H&S is forming.
The shorts are done for now. You would need a break below that low
to shake out longs as late shorts are now getting nervous.
Yes, perhaps, a l. 10 min chart is stuck at 20 ema for /TF.
Symmetry was broken on 10 min chart, but this is only a 5 ema
bounce n 60 min charts. Flat for now.
As we saw on Friday, it can take a long while for reversals to
play out after large-range down moves but once they do the
combination of short-covering and dip-buyers can be strong. If
sellers can't bring price back down under 1160 (TF) convincingly,
anticipate another afternoon rally.
/TF looks to be back
Posted by zenman on 20th of Jan 2015 at 09:16 am
/TF looks to be back testing upward sloping trendline from Oct. Might be a good longer term short if price cooperates. Sorry, chart is messy...
http://screencast.com/t/ld5wO6fdgyb
/TF (Russell Futures) back tested
Posted by zenman on 20th of Jan 2015 at 01:14 pm
/TF (Russell Futures) back tested 5 EMA on 60 min. Very week. One more down push would set up some divergence. Or perhaps there is an opportunity to short from the bottom of the value area (VAB). at 1166 area. /TF has been very nice for trading today.
http://screencast.com/t/PS9mk5OnKtS
Good chart. Shows 2 left
Posted by darnelds on 20th of Jan 2015 at 03:14 pm
Good chart. Shows 2 left shoulders and nearly 2 right shoulders (though not symmetrical).
There was decent positive divergence
Posted by a_l_ on 20th of Jan 2015 at 01:28 pm
There was decent positive divergence on 10M and lower timeframes when TF hit S2 at 9 am Pacific. Now an inverse H&S is forming. The shorts are done for now. You would need a break below that low to shake out longs as late shorts are now getting nervous.
Yes, perhaps, a l. 10
Posted by zenman on 20th of Jan 2015 at 01:36 pm
Yes, perhaps, a l. 10 min chart is stuck at 20 ema for /TF. Symmetry was broken on 10 min chart, but this is only a 5 ema bounce n 60 min charts. Flat for now.
As we saw on Friday,
Posted by a_l_ on 20th of Jan 2015 at 01:46 pm
As we saw on Friday, it can take a long while for reversals to play out after large-range down moves but once they do the combination of short-covering and dip-buyers can be strong. If sellers can't bring price back down under 1160 (TF) convincingly, anticipate another afternoon rally.
10 min /TF short might
Posted by zenman on 20th of Jan 2015 at 01:56 pm
10 min /TF short might trigger for me around 1160. Let's see what 11 o'clock brings.
http://screencast.com/t/lgBGHRl1Z
http://screencast.com/t/f1InvASsg Nope long got triggered instead.
Posted by zenman on 20th of Jan 2015 at 02:05 pm
http://screencast.com/t/f1InvASsg
Nope long got triggered instead. Value area bottom coming up at 1166.
TF back into value area
Posted by a_l_ on 20th of Jan 2015 at 02:03 pm
TF back into value area - logical target of 1167-8 and then up in the 1171-2 range.
Target 2 hit. Trailing a
Posted by a_l_ on 20th of Jan 2015 at 02:41 pm
Target 2 hit. Trailing a little tighter now.
Nice hourly recovery. Good on
Posted by zenman on 20th of Jan 2015 at 02:45 pm
Nice hourly recovery. Good on you al. I'm out at my target. Hope you get a real short squeeze though.
Thanks. I just have 1/3
Posted by a_l_ on 20th of Jan 2015 at 02:47 pm
Thanks. I just have 1/3 left long with two targets hit. Maybe it wants to get positive. I'll continue to tighten stop if it gets into 1174-5 range.
Flat, as Primary Pivot held
Posted by a_l_ on 20th of Jan 2015 at 02:55 pm
Flat, as Primary Pivot held as resistance. Will look long again if 1172 is taken out.
Missed a beauty of a
Posted by a_l_ on 20th of Jan 2015 at 03:54 pm
Missed a beauty of a short at 1168.8, but can't be piggy.
Target 1 complete; small timeframe
Posted by a_l_ on 20th of Jan 2015 at 02:31 pm
Target 1 complete; small timeframe negative divergence on the last push, but not even 5M yet.