[Head2k]

I missed the 92 long because it wasn't my setup. I have a V reversal setup but it has quite strict requirements which weren't fulfilled in this case. But then I entered after the 1801.5 breakout, during the formation of springboard at 9:43. Not a big profit from that trade but at least something.
I was apperently wrong with 1807, but didn't do anything there anyway.

[wjrusnak]

Already we have some selling in the evening. Tomorrow I'll be looking to get long around 1794-1792 if the opportunity is given. Today also provided us with some R levels (1800, 1805, 1811-1813). Even tonight we had price break through 1800 then reject it from the lower end. I'm guessing buyers would want to try out the 1813 area again to see if the supply is serious at that level. If not, a short upon the break of price into the lower range (1770-1792) could be warranted.

[firewalker]

Yesterday we still went up further, but we reached an interesting point imo. We have a big area spanning from 1810-1815 to 1870-1875, the big range that we were stuck in during July 2008. It looks like we reached the lower end of the range, and I'd be surprised if we can get to the opposite side so easily. That is, assuming those areas are still as valid today as they were in the past...

[Head2k]

Short zone 1812-14, 1837-42.5
Long zone ~1796, ~1792, 1781
Continuation trade through 1805 possible, if there is a strong momentum and a setup.
It seems like a higher S was found at 1795-6, which could be VAL of the potential current range. The first rejection found R in 1805 midpoint and price returned to 96 again. Now we are getting a higher high again there.
I will look for a trade off a higher low (expected ~97.75-98). If this fails then there is 95 and finally 92.5-89.
As for R, the 1814 is within tolerance of the 15 level I had yesterday. This is where retracements went after breaking the July 2008 range, and that would suggest that I can consider it as VAL of that range. The next major R is 1837-42.5 midpoint zone.

[Head2k]

Result: The higher low I wanted to trade off occured premarket so I missed it. And it reached higher than I expected anyway.
Then I took a continuation trade after a break of 1805 and it was a bad trade. I need to remember when I can take continuation trades. I can take them when a proper pullback is not expected. The move to and through 1805 was indeed quick, but it lacked volume / violence. That means 1805 was not enough of a resistance and I got stopped out by a subsequent pullback to a previous swing high.
Then I was tempted to take a long off 1797 at 10:51 but I passed. Technically it wasn't my trigger, but this hesitation shows I am quite unsure of (in)validity of my triggers.
Then I took a long off a higher low, which was OK, since it was my setup. Got SO at reduced stop.
And eventually I took a long off a lower low a few minutes later, which was my setup incl. a proper trigger too.

[wjrusnak]

Originally Posted by Head2k »

Result: The higher low I wanted to trade off occured premarket so I missed it. And it reached higher than I expected anyway.
Then I took a continuation trade after a break of 1805 and it was a bad trade. I need to remember when I can take continuation trades. I can take them when a proper pullback is not expected. The move to and through 1805 was indeed quick, but it lacked volume / violence. That means 1805 was not enough of a resistance and I got stopped out by a subsequent pullback to a previous swing high.
Then I was tempted to take a long off 1797 at 10:51 but I passed. Technically it wasn't my trigger, but this hesitation shows I am quite unsure of (in)validity of my triggers.
Then I took a long off a higher low, which was OK, since it was my setup. Got SO at reduced stop.
And eventually I took a long off a lower low a few minutes later, which was my setup incl. a proper trigger too.

Almost identical to my day except for the fact that I took a short off the break of a hinge at 10:04am (resulted in only +1). Everything else resulted in a stop. Luckily I keep very tight stops due to my aggressive entries, so it didn't kill me overall. Again... better luck tomorrow

EDIT: The hinge that I took short:

[wjrusnak]

New range: 1797 to ~1814. I'll be looking long at the lower end and if we get some strength (maybe higher high overnight), 1805 could even provide some nice S. If we don't have the strength to break up, the short will be at around 1814.

[DaKine]

Back to business for me... Have the same levels as wj
Long Support 1797 - 92 zone
1805 midpont
Short Resistance 1814 -1812 zone

Breakout above 1814 look for long if not already long at previous R 14-12s...
Breakdown below 1797-1792 look for short w/ bottom of that range being 72 w/ mid of 81

I have my attempt at Supply and Demand lines drawn in and they are forming a wedge or my perception of a wedge... Still playing S/R but interested in seeing how the wedge if it is a wedge plays out...

Cya in chat