so far it's a range day but probably we'll have a new day low
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estimates made prior to opening.
Prb with roommates and missed first ell opportunity (only 0.25 off) - and I should have known as I usually subtract 0.25 from est high limit order to get a fill - which would have been perfect. Roommates partying til 3am and I need to get up at 6:30 - only 3.5 hrs of sleep and not enough - also anger at the inconsideration.
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Educational only and not trading advice (EO&NTA) Good trading to all
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Failed to see this channel when it first showed itself after the first half hour of regular trading. The mid line seems to be tricky as it gave that double top pattern that promptly failed. Anyway now that I see it I am confident it will go away.
I will take the opportunity to point out how well the 20 ema ATR keltner channels using 1.616 and 2.616 (Fibs) multipliers work out. Thank you to Suri Duddella for publishing that.
the pullback probably will be bought but still it's a range day
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If you run fibs on that euro zone sell off we are at the make it or break it level on the retrace. Time for a tweet or Kudlow on the White House lawn or something.
60 minute Opening Range high should be the first target if the selling gets started. I think the standard odds are in the mid 80's that we will not touch the opening swing low since we are above the swing high. That swing low is just above the overnight low so if they do go you will know which choo choo we are on.
Chart for the road: You don't need to be expert on market profile/Volume profile to see this is a Balanced (POC) market. sideways chop to continue. The Fight to regain 3000, Trade well, peace!
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My comments are for entertainment/educational purpose only. NOT a trade advice.