Ym Analysis for Oct. 19, 2006

[Soultrader 12]

Although we had a nice decline yesterday, we have a higher value placement compared to 10/17. We are still stuck in our 5 day range of 11940 - 12050.

 

Couple of very key points I will be looking at:

 

12100: yesterdays rejection point, yesterdays high, and R1 pivot cluster. KEY

 

12050: ULTRA key level. Upper range extreme (see MP chart) and daily pivot, monthly pivot, and VAH cluster zone (see pivot chart).

 

12015: VAL pivot

 

11995: previous day low and S1 pivot cluster

 

11935 - 11940: lower bracket extreme and S2 pivot cluster

 

Watch for any breakouts above 12050. Price acceptance vs price rejection.

 

Watch for rejection and reversal signs at 12050. This will be a key pivot level where I will be trading against for the day.

[wrines 10]

I assume you mean 12050 not 19050.

What is a VAL pivot and a VAH cluster zone? Are these MP terms?

W

[Soultrader 12]

I assume you mean 12050 not 19050.

What is a VAL pivot and a VAH cluster zone? Are these MP terms?

W

 

oops... thanks for pointing that out. Just fixed it.

 

VAL = value low

VAH = value high

 

These are MP terms.

 

Cluster zone is a term I use when pivots line up close to each other.