Wolfhound

09:26 We have travelled out of yesterday's range during the early morning trading. From where we are now, I will watch the reaction at the previous day's low and the overnight low We have various levels below the ON low, and in particular there is a high from 28th of November at 4342. This would take us back into the weekly range that can be seen on the weekly chart. 09:37 After moving around below the opening point we are now testing the ON lows. 09:45 Through the lows with a lot of effort. We have another low around 64. 10:03 Congestion for now. Working through previous levels will take time. 10:11 Breakout attempt from the range. 10:16 I have some form of swing low at 48, don't know how valid it is. 10:51 We got a reaction at the November high. Interesting how these old levels that I used to disregard, can often have an effect on price movement. Next step is to profit from that knowledge 1 Min chart added.

09:06 Added the 10 Min chart with levels for this morning. The Non-farm payrolls have messed up the nice clean overnight range as usual. On days like these where we have an open before the open, it really expands the overnight high/low to reach closer to the previous day's high/low. We will see which levels are important after the open. 09:38 Opened with a series of overlapping bars, and now down to the overnight low. 09:46 We had a higher low, but can we make a higher high? 09:50 There is a downward trend line from 8:33 on the 1 Min, and we don't seem to be able to break it. 09:53 Break through of overnight low, and retracement above the PDL. I used to go short at these points, and feel sorry afterwards. 09:56 Well, we just shot up from the lows. I guess there is some news in one of the stocks. 10:00 Retracement with breakout. I don't like these retracements after 20 point jumps. How much power has gone from the move by then? 10:15 A range around the overnight midpoint 10:39 I was smelling a break upwards just there, but no, it didn't happen. Still in the range. 10:58 Out of the range and at the overnight lows again. We may finally get a direction. 11:06 Reached the PD Low fairly quickly there. Will it hold? 11:09 Wednesday's low is at 19. 11:30 We got there. What next? I seem to have marked an old range mid at 12, and then there is 400 of course. 11:34 I need to go for now. I'll update later with my review of the day and week.

09:10 Attached the pre-market chart. We have moved above the previous day's high and retraced, but have stayed above it for now. I have included previous day's highs for my own reference. These may hold no importance if the market reaches them. 09:41 At the moment we have opened and rejected a pre-open high and gone down through the previous day's high. Back within the opening range, and still no direction decided. 09:44 Currently in a hinge. 0951 We got a double bottom at 49 and now we have travelled up quickly to the overnight high. 10:02 We didn't get past the overnight high and now we are back to the opening price again. We have a retracement also. 10:09 The turning point at 10:02 was at 50% of the rise. On the 5 Min chart this looks like a simple retracement entry. Difficult to say the direction at that point from the 1 Min chart. 10:22 We made it to last Thursday's high before turning down again. Broke our demand line and retraced. 10:33 Higher low, and lower high. 10:49 We have stayed above the overnight high, but most of the the movement today was from the double bottom at 49. 10:52 Are we double topping now? 11:00 Retracement after breaking through the overnight high. 11:07 Completed the move to the PDH, and quickly onwards to the opening lows. 11:11 Broke the opening lows and retraced from below. Breaking downwards again. ON Low at 40. 11:18 Didn't make the overnight low. Made a higher low and a rise back to the opening lows instead. 11:26 Through the opening lows at 49, next is the PDH at 52 11:33 Okay, we are at the PDH. I'm going to buy some food. I'll be back later to see if we hit the PDL, or just settle down for the afternoon. Added the chart for the morning's action

09:05 Areas of interest added for today in 10 Min chart. 09:32 After a double top just before the open we have passed through the ON low. 09:35 PDL is at 32 along with a lot of old resistance from last week. 09:39 Reached the PDL, and moving on down. Swing low at 27. 09:40 That swing low would be the low of the whole of last week. We'll see if it can hold out for long. 09:43 Touched the low. If we go through then we are out of resistance area. 09:49 Held up at 27, but couldn't reach previous swing high at 31. 09:55 Retraced to swing low from below. 09:59 Now back to the low this time from above. we have broken our supply line so we could go up, or we could be in congestion around the previous lows. 10:10 The range has to end sometime, and we cannot get above the previous day's low. 10:20 We had a failed breakout below the range at 10:14, and now we are back in the range. I guess we may try for the highs again. 10:35 Eventually reaching the previous days low. Waiting for a direction now. 10:37 This area around 33 is essentially 50% of the high to the low since the open. 10:44 Retracement after breakout. 10:53 We clearly didn't move upwards after the break above the PDL. We are testing a demand line while moving back into our range. 11:09 We have moved up nearly 20 points since the low of 19, but the action has been very choppy. Overnight low is nearby now at 41.5 11:45 Once through the overnight low, the swing high before the open was predictable. I can see the levels more clearly now with constant repetition, and the help of other people's marked charts. Hopefully this exercise will lead me to be more patient with exits until targets are hit. Obviously there are not simple 1 Min retracement entries at every level, so I will have to go over many days charts to see what entries are possible with acceptable stop losses. We eventually made it to the previous day's 50% level and moved into a range. I have attached the chart for the morning.

09:35 Late starting. We opened down, and then turned back up at Friday's high, and a demand line on the hourly from Friday afternoon. 09:40 Back to the ON Low again. 09:43 Swing low to watch at 59 09:48 Higher low 09:49 Now we couldn't make it past the previous high. We may be in range or chop. 09:50 Wow, breaking down as I was typing. Below the swing low now. Next low at 47. 09:52 Retracement in downward trend. 09:55 We are around the mid point (53) of a 10 min hinge from yesterday early morning. 09:57 We have been held up for now. An attempt to get lower failed. Back to a swing low from yesterday again. 09:59 Supply line from opening highs being tested as we go higher. 10:02 Higher low and higher high 10:05 Retracement and breakout. 10:08 At Fridays high, the 50% level of our fall, and previous congestion on the way down. 10:14 Touching demand line. 10:21 Sitting watching, waiting for something to happen. 10:25 Breaking downwards again, and through 53. 10:29 Retraced and no further downward movement yet. 10:33 Hard to get a clean breakout with retracement today. 10:37 Moving down again after what a double retracement. Will possibly get to 46, but it will not be in a straight line today. 11:12 Finally reached the previous day's lows at 46. Its good to have targets, and to watch how price gets there, but turning that into a plan will be more difficult. 11:48 We are coming closer to all those lows from last week. Lets see if we get into a fight. 11:50 Will that double bottom hold for now? Gotta go do some stuff. Back later. Added the chart. Time is shifted 1 hour behind ET on the chart.

09:00 I have attached the chart before the open. The overnight high is at the high of Wedensday, and the ON 50% is at the high of Tuesday. We have been making higher highs everyday this week, but it is slow going. There is a lot of down movement and ranging during the days. Friday might be a trend for a change. 09:36 We have made it to a point above the overnight high, and holding for the moment. 09:43 We struggled to get anywhere above the OH high, even with the PD High so close, so now we are making a move below. Looks like a gap on my chart. What was that jump about? 09:46 I will now jinx this and say we have a trend. Holding below the ON lows. 09:51 Okay, trend killed in one easy comment. From what I can guess about buyers and seller motivation this morning, the people who bought above the ON Highs were frightened when it fell back below the lows, and then there was no one to take their contracts off them. Finally after a fast drop with little interest in holding the price, someone has stepped in, thinking that the contracts are going cheap below 50. Does that mean that they are buying in hope or expectation of a proper move upwards? 10:01 Back to the ON high. Should make the PD High this time. We had a 5 point move below the ON Low, so we are due at least 5 above the ON High. 10:11 I'm the king of predictions . Did I say 5 points, I meant 5 ticks. 10:15 Well, we opened at the highs and have failed twice to get above them, this time with a lower high, and the price has flown to the lows again after a brief range. 10:21 We are still trapped by the overnight range. Maybe we haven't actually woken up yet. There is still enough room to profit between the levels if you can get in, but it is going nowhere again. The up moves are a lot slower than the down moves. It looks like no one really wants to spend any money today. Waiting for someone else to start the trend. 10:49 The action is getting very tight now. No downward movement, just hanging around the highs waiting..... 10:56 Sellers started to offer lower prices to get anyone to bite. A now we got a few interested buyers to take it up a point or so. Will it start a stampede of bigger fools, or just stay here?

09:25 ET Chart attached with a few lines that I will look for in the morning. It looks a bit messy, but I am including 50% levels until I get the hang of what lines work best for myself. 09:40 Rejected the overnight low and then back up to the overnight high of course. I'd guess if I ever get good at trading, it will seem like the movie Groundhog Day. 09:46 Interesting. The overnight high today, matches the one yesterday, and is also at the extremes of some ranges during yesterday morning. The resistance to 50 is obviously strong this morning. 10:00 The price fell from 50, but stalled around 50% of the upmove at 09:50, so I guessed that it might make another move to the highs. It didn't get anywhere near the highs this time, and fell quickly to the overnight low again, and straight through. Previous day's low is at 29. 10:14 Not exactly shooting back up. Just moving slowly over to the downward trend line. Its getting a bit like a range. 10:20 Reached 50% of the down move and have a retracement 10:39 That retracement turned into a slightly upward channel and then broke to the overnight high. So do we make a move up to 5 points above the high to 54, like with did 5 points below the low earlier? 10:44 It should be 4 points actually. Which would be 53. 10:49 53 stopped us for now. But for how long? Surely we have to go somewhere today? Not necessarily. One can't trade yesterday's chart. Each day presents its own opportunities. One day might be gangbusters and the next a big snore. 10:54 We retraced to the overnight high, which I like, but we have already moved up 20 points and its nearly 11am. Will the traders coffee break stop the advance? 10:55 Touched upward trend line from 10:14 11:04 Looks like a hinge, and a failed breakout. We might range for a while. 11:12 Or maybe not. Up at Tuesday's high of 56 now. 11:20 Through 56, and a retracement. Not far to the previous day's high at 61. Hardly worth giving up now. 11:26 Demand line broken with retracement to 56, and breakout below. 11:30 The hinge that I think is there, has a mean above 50 11:53 Gone a bit quiet now, but it was interesting to watch the price go equal distances from the mean earlier. It happens quite often at exact levels, and it still makes me wonder at the traders behaviour. 12:03 Through 56 again after another failure at today's high. 12:13 I'm going to get something to eat. I may come back to see the afternoons action. I never got back to the market, but I added my chart for the day. The time zone is off by an hour, and I can't figure out how to change it, so 9:00 on the chart is actually 10:00 ET

I attached my 10 Min chart with lines that I will watch for this mornings open. Attached chart of this mornings action:- We moved from the overnight low to above the previous days high during the morning through a series of higher ranges. With no direct trend, it would be difficult for a 1 Min trader to enter and stay in a long unless he took an entry on a reversal at the opening lows. Later in the afternoon we did get a good fast downward trend, if anyone could wait that long and still be ready to jump on the opportunity.

Morning Chart. Lots of lines to observe. Edit in afternoon with 1 Min chart added: Watching this today, it seemed that we hit a lot of levels quite cleanly, and moved from the previous day's low right up to the highs. Entering at the right risk level, and holding to the opposite end of the range is another matter, but it was quite a clean day for AMT. A. After the open we made it down to the swing low from yesterday afternoon, before turning up. I had thought that this area would be unimportant, given the previous day's low just below it. B. Back to the overnight low, and it seemed ready to breakout, but it never happened. C. We flew through the previous day's low, and then turned around and rejected it straight away. D. Higher low at the previous low point, and we make it back to the overnight low. E. With the up and down motion, it looks a lot like a range has formed. We don't quite hit the lows this time, and travel back to the previous highs. F. I would call this a break above the ON high, but it falls back into a range above the ON high. G. We reach the previous day's high. Well done NQ

Hi Toos, my name on ET is BonScott. Wolfhound was already taken. The thread is in the journal section.

Since it has gone a bit quiet here over the past month, I will continue posting in the journal at ET, and stop double posting here. Bye for now.

We dropped to the next level yesterday and overnight. We came to a halt around the Tuesday highs, but if these do not hold then we have large drops between potential support areas. I am taking today off, so I won't be watching the live prices today. Good luck to everyone who is trading. I'll be back later.