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Sometimes markets are more technical than other times. When we're waiting for important news though, whilst remaining technical the markets tend to get skittish. It's opex week too. Just account for it and if you see a strong move, know that it's probably news and the market has therefore shifted gear. The market will disregard any of your near targets and then it become a game of chicken. Stand by and wait for the dust to settle. It's either that or don't trade the market until any news comes out. I don't try to do both. I know some people do though.

 

I tend to stay away from trading news.. It is an all or nothing proposition and technical levels are easily meaningless... I knit instead..

 

Edit: This is an observation only and you know the rest.. I am seeing selling setups... probably only for a responsive move in here somewhere and meaningless to todays devlopments so don't let this keep you from your appointeed duties...

 

I hesitate to post this since I am wrong as anyone else..this is only in a short timeframe..just FYI... :2c: The offset to that is we held 50.50 on the break - an important area on GBX.. Big Picture: heading North possibly from this area..got to see how it sets-up...

 

Capacity Utilization: /Industrial Prod.. 8:15cst..

Edited by roztom

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Okay, so 1356.50 was a price I have been looking for the market to test in a while now. It was the back-adjusted electronic high spike from last year and 'signalled' the beginning of a move 300 odd points lower. We have done it o/n again :angry: lol. Anyway, the level is 1352.50 but the balance high is 51.25. If we test down here and hold, I would expect another test of 1356.50 on the way towards 62 ish. If we are out of balance, we need to see if any old(very old now) balances are acceptable.

 

attachment.php?attachmentid=27432&stc=1&d=1329315426

2012-02-15.thumb.jpg.527c535e8e9ab6e6720e6665bd5edb3d.jpg

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I tend to stay away from trading news.. It is an all or nothing proposition and technical levels are easily meaningless... I knit instead..

 

 

Capacity Utilization: /Industrial Prod.. 8:15cst..

 

I use forexfactory's news calendar and it is bar none the best I've found. Only events marked in red really need to be paid attention to. Only FOMC minutes at 2pm are of any note today. All the other stuff is pretty much ignored by the market.

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Because it's above value. They are responding to prices that are too high basically.(that's the theory anyway)

 

I think it depends on how you define value. In relation to yesterday's value, I see your point. But I would consider the selling that occurred around 7:30-7:45 this morning to be responsive, as the market established a new area of value overnight. At the open the selling seemed to be moving away from overnight value and back to yesterday's, and then responsive buying at the 48. Would you disagree?

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I think it depends on how you define value. In relation to yesterday's value, I see your point. But I would consider the selling that occurred around 7:30-7:45 this morning to be responsive, as the market established a new area of value overnight. At the open the selling seemed to be moving away from overnight value and back to yesterday's, and then responsive buying at the 48. Would you disagree?

 

I am looking at the RTH balance profile from 2/3-2/14. You can look at any balance you want to, but I feel this is the major nearby one. In it nearly 10 million contracts have been traded. If this is the one you want to reference, then the selling was responsive. If you are looking at the early morning range, then theoretically it is initiative yes.

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I use forexfactory's news calendar and it is bar none the best I've found. Only events marked in red really need to be paid attention to. Only FOMC minutes at 2pm are of any note today. All the other stuff is pretty much ignored by the market.

 

Tx Josh, so do I... Good resource, IMHO & the price is "right."

 

;)

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BTW for you MP/VP dwellers we just retreaced to the IBL & MicroLVN/Midpoint Area... 47.25 area.a typical retracement point...

 

If you had gone long below you would have targeted that area... for a rotation/responsive buying..

 

Here is where it gets interesting... Is the selling over or will it ocntinue?

 

Aside from rotation now around the lower balance area what is the dominate direction going to be after FOMC? ARe lows in or are we going to visit that 36.00 NVPOC area?

 

:confused:

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just a classic p3 on the fed minutes...

 

days like today is what makes trading fun...

 

no worries if not doing well...we're only in february....got the whole year ahead....do not hurry.......

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just a classic p3 on the fed minutes...

 

days like today is what makes trading fun...

 

no worries if not doing well...we're only in february....got the whole year ahead....do not hurry.......

 

Trading is like dancing..the market leads - I follow... (try not to get stepped on too often) :doh:

 

BTW: CLVN 41.50..our old buddy right below..

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BTW for you MP/VP dwellers we just retreaced to the IBL & MicroLVN/Midpoint Area... 47.25 area.a typical retracement point...

 

If you had gone long below you would have targeted that area... for a rotation/responsive buying..

 

Here is where it gets interesting... Is the selling over or will it ocntinue?

 

Aside from rotation now around the lower balance area what is the dominate direction going to be after FOMC? ARe lows in or are we going to visit that 36.00 NVPOC area?

 

:confused:

 

at LTL on es...so either a VE or a left to right travers (retrace) toward RTL...only way we get VE is with increased volume - need heavy V!!!

5aa710cd66f78_201202145wes15matLTL.png.355f3db2a2a94d2daedce7a2cef8838b.png

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at LTL on es...so either a VE or a left to right travers (retrace) toward RTL...only way we get VE is with increased volume - need heavy V!!!

 

chart with volume showing.....see volume slowing after bo on fbp..so fbo...unless V comes in heavy, no VE...therefore l2r

5aa710cd6b471_201202145wes15matLTL2.png.1ef30e72ac8f5a3dec0f8b645c3b1b1d.png

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CLVN 41.50 tested... This may be only a bounce..too soon to know.. I went long against it scaled against 45.00 MCHVN and have stop B/E...

 

Now to see what it has...

 

:missy:

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chart with volume showing.....see volume slowing after bo on fbp..so fbo...unless V comes in heavy, no VE...therefore l2r

 

Gosu,

 

Trying to brush up on my acronyms --

 

bo = breakout

fbp = ?

fbo = false breakout

v = volume (duh)

ve = ?

l2r = ?

p3 = ?

ltl = left trend line?

rtl = right trend line?

 

Thanks,

 

CYP

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chart with volume showing.....see volume slowing after bo on fbp..so fbo...unless V comes in heavy, no VE...therefore l2r

 

see volume decrease further (prv)....so lateral possibility...lats can be "tilted" toward either direction as well as horizontal....if trend is strong, tilt is toward trend side and can "ride" the LTL...meaning will not reach RTL soon...

 

drew in traverse RTL - red dashed line - to monitor for bo of this full r2l traverse....

 

volume is going into dry up...good time to relax and count the money..

 

calling it a day...not used to this activity..lost a lot of stamina...LOL

5aa710cd6ec81_201202145wes15matLTL3.png.ff9df16fb6f28cd819a605d885cf11c6.png

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