Busy Day Tomorrow

[Sledge]

Anna-
Wish we had some sun- tis gloomy and rainy here in the Hoosier state for the past few days.

Any idea what the "(E)" notation stands for?
Thanks!
Aaron

[forsearch]

	Quote:	Sledge
	Anna- Wish we had some sun- tis gloomy and rainy here in the Hoosier state for the past few days. Any idea what the "(E)" notation stands for? Thanks! Aaron

Sure, it's elementary

Seriously, though, the "E" here refers to the electronic traded contract, versus the pit-traded version.

-fs

[Sledge]

Anna had posted a chart (it was a longer timeframe) about a screaming example of a signal to buy. While scrolling through my charts this AM, I stumbled upon this gem screaming --BUY ME-- and I thought I would share.

Screaming_buy_me.jpg

[torero]

I went short this AM on this one. Oh well. I have to stick to my guns and with my analysis. Could be a dud though.

[cowpip]

	Quote:	torero
	I went short this AM on this one. Oh well. I have to stick to my guns and with my analysis. Could be a dud though.

And that's why trading is so diverse! Everyone has a different take on the landscape.

[torero]

Takes every kind of people to make the market go 'round, doesn't it? At this point it could go either way though.

[cowpip]

	Quote:	torero
	Takes every kind of people to make the market go 'round, doesn't it? At this point it could go either way though.

I agree. It looks pretty two-wayish to me as well. Personally, I'd favor further downside on cable, but to be honest, that pair isn't currently on my radar. It's just a little too whippy for my liking. Good luck to the two of you. I hope you can both benefit from the price action (if that's not asking too much).

[Sledge]

Torero-
Here is the thing. You get to sit and watch the trade and can react quickly to get out either at a profit or a loss. Unfortunately, I'm stuck away from my platform for the next 4 hours, so I have to look at it from a longer term perspective. If you are short- right now you are in the green as my check a minute ago shows it has posted to 1.9409. But some volitility news is heading our way in about 23 minutes!

Cowpip:
Well if you look at the daily yesterday. It is a BEAUTIFUL hammer closing as an up bar. I am looking that this AM's rash of news releases may push more bears into the hole, but I'm pretty confident that we should see some upward movement over the next few days (we aren't talking 2.1100 here), as it has tested a previous supply area over the last 48 hours a number of times.
Sledge

[cowpip]

	Quote:	Sledge
	Well if you look at the daily yesterday. It is a BEAUTIFUL hammer closing as an up bar. I am looking that this AM's rash of news releases may push more bears into the hole, but I'm pretty confident that we should see some upward movement over the next few days (we aren't talking 2.1100 here), as it has tested a previous supply area over the last 48 hours a number of times.

Yes, you could easily be right. That daily pattern could easily turn into a nice pin-bar type of pattern that would reverse well off of the lows. A similar pattern has also developed on the 4-hour, but is at risk of being invalidated if it moves much further south.

The jury is still very definitely out on this one, obviously.

As I said - everyone has their own view of this. That's a healthy thing.

[Sledge]

Well- I weathered the storm through the NY AM markdown and took 30 pips on the trade on a 2.00 lot. Got home for lunch, saw it stalling and closed out.

Will wait to see if we re-test later today or overnight!
Sledge