[Soultrader]

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]

I assume you mean 12050 not 19050.
What is a VAL pivot and a VAH cluster zone? Are these MP terms?
W

[Soultrader]

Originally Posted by wrines »

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.