My vision was for strength. Money is pouring into the stock market and the jobs report did nothing to change that.
ES RTH opened way above yesterday's VA so the Gap trade was the order of the day, but not with a view to actually closing the gap. There was that lovely double VAH of the last two days to aim for, and that is what I did. It happily coincided with my fav Fib. X-mas had arrived. That was trade #1.
Price became oversold and orders flooded in at around the 1326.00, which is where I made my stand too. I would be wrong if price was accepted into yesterday's VA and the Fib failed. "Accepted" means accepted.
That second trade ran up to my Fib spot and it was "ching, ching", then I was done for the day. Sun is shining here in France so I'm going to stick my face into the sun.
How did you pick out that first 1.272 number? Your starting point is just one of many higher lows. Regards, Gary (PS - Glad you are doing better)
ReplyDeleteGary, I look at all the swing HIs and Lows. Its areas where people put stops and that causes the swings to be taken out. As locals, that's where we faded the move.
ReplyDeleteI see you use 1.25 rangebars for ES. I trade Nifty(india) futures and want to use range bar charts. Which rangebars would you recommend for nifty e.g. 2,3 or others.
ReplyDeletethanks