Comments on: Gathering Steam

By: Kiwi

Kiwi — Fri, 26 Jun 2009 03:31:10 +0000

Further to my earlier comment. I thought to generate a buy line required 3 consecutive down bars. In this case it seems we only have 2 bars that closed below the previous bar. Thanks

By: Kiwi

Kiwi — Fri, 26 Jun 2009 03:17:45 +0000

Chris
Can you explain how a new 135 net-line buy level at 904.50 was generated?

By: mdlifelab

mdlifelab — Thu, 25 Jun 2009 20:10:31 +0000

Thanks for the explanation

By: borocarolan

borocarolan — Thu, 25 Jun 2009 19:40:31 +0000

Thank you. Now I understand. You refer to pit trading, closing time of the bars and ET.

By: chris

chris — Thu, 25 Jun 2009 19:13:13 +0000

1) – Given the strength here, I don’t think we’ll see much resistance at 920.

2) – No, the 2PM bar. The 135 minute chart divides the regular trading hours (RTH) of the 9:30AM to 4:15PM ET pit hours into three equal bars. The first bar closes at 11:45 AM, the second at 2:00PM and the third, at 4:15PM.

By: borocarolan

borocarolan — Thu, 25 Jun 2009 19:09:14 +0000

Chris,
I think you ment 12 PM bar instead of 2 PM bar.

By: Ron Mexico

Ron Mexico — Thu, 25 Jun 2009 17:34:31 +0000

Chris,
Your post from a couple days back suggested potential resistance/”toppiness” at the former cluster of net-lines at 920……do you still consider that an important level??