The composite VA analysis is sooo gooo! Market essentially did a look above and fail -> VA traverse -> Initiating selling below VA and a backtest. 5480 is the lower boundary coincide with MA50.
I am surprised you didn't mention that 5437.50 was June Contract settlement price , which I always take your advice and had marked on my chart as you have said these roll gaps get filled many times
Thank you! I usually keep the roll gap references on my chart until they are filled. The confluence with the 5% correction level at 5435 was particularly noteworthy and has provided some solid moves.
The composite VA analysis is sooo gooo! Market essentially did a look above and fail -> VA traverse -> Initiating selling below VA and a backtest. 5480 is the lower boundary coincide with MA50.
A very simple approach when the market is "choppy".
5430 <- 5480 -> 5530
PICK YOUR FIGHTER!
I am surprised you didn't mention that 5437.50 was June Contract settlement price , which I always take your advice and had marked on my chart as you have said these roll gaps get filled many times
We overshot by 4 pts and now a 95 pt rally off it
Great Stuff
Thank you! I usually keep the roll gap references on my chart until they are filled. The confluence with the 5% correction level at 5435 was particularly noteworthy and has provided some solid moves.
Great stuff as always!!
Did everybody stay away from the FOMC? Look at K and L. I can't find any reason to get in on that trade!