Thursday, July 23, 2009

ES Updated Zone


Here is an early overlay with an updated zone of 973.75. This is not confirmed resistance but an area where I anticipate the market to exhaust and potentially pullback.

I missed the move up which frustrates me. It was a scenario in the prep but again today I favored exhaustion in my visualization. Would have been a good time for yesterday's breakout attempt trade.

I tend to follow this pattern with breakout attempts. A bit of randomness that needs to be corrected in my own plan.

I will need a significant pullback with confirmation to consider engaging this market today. Do not get caught up in repeatedly fading this move. There is not much resistance between here and 1000.

2 comments:

  1. but Mr. Andy of ATW would have sold that double top on the NQ with 30 minutes to go with his AC300 and his VSA distribution analysis.

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  2. It's easy to call it in a room. I would like to see some execution with real bets. He may be a good discretionary trader. I could not acheive consistent results with the system. I caught the high today based on structure and my 11:03 AM projection posted.

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