Wednesday, February 16, 2011 7:12:27 PM
ES action 2/16/11...
3200 tick chart with some annotations...
there were basically two solid trades today...
not counting the big move down was during lunch as I usually sit those out... plus the daily directional filter bias was up so I was mainly looking to go long... aside from a few micro scalps these two were it.
the fork didn't really come into play until i started sizing things up 'bout 1/2 way through the lunch hour. then when the post lunch pull-back started to form the picture became complete. the upper fork boundry lined up perfectly with fib extension from pullback that bounced perfectly off lower ascending wedge TL and fork mid-line.
if you look closely you can also spot an IHS pattern which helped make the case for the last move... though it wasn't able to do a full measured move I figured it would at least have enough steam to make it to the upper fork TL.
3200 tick chart with some annotations...
there were basically two solid trades today...
not counting the big move down was during lunch as I usually sit those out... plus the daily directional filter bias was up so I was mainly looking to go long... aside from a few micro scalps these two were it.
the fork didn't really come into play until i started sizing things up 'bout 1/2 way through the lunch hour. then when the post lunch pull-back started to form the picture became complete. the upper fork boundry lined up perfectly with fib extension from pullback that bounced perfectly off lower ascending wedge TL and fork mid-line.
if you look closely you can also spot an IHS pattern which helped make the case for the last move... though it wasn't able to do a full measured move I figured it would at least have enough steam to make it to the upper fork TL.
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