Trying out CL with WCCI

Another try.

Post Valentine trade.

It's interesting to see the drop in trading volume on 14th Feb (Valentine day). Game plan for today.



Well, market didn't play out to what I'd like to to be.

Respecting zone as support.

It's interesting to see how price react to potential support and resistance.

For area A. Price did 3 test before moving up, many traders will have gotten stopped out before price really move up.

Game Plan

Market consolidate at 2345, at a crosspoint. I'd like to see a break up with test on 2345 for entry.


Price tested low of zone slightly below 2345. Another test at mid of zone which is actually a better entry.

20110127

Just to record how price react to S/R

20110201

2300 again

2300 is a very formidable region. Big surge of price towards 2300.

Next possible move is price break 2300 and retest it.
Update 26th Jan : 2300 proved to be a strong resistance and made our day. As shared yesterday. next play is retest of 2300

Nice move. Price actually tested inner zone at 2299 follow by a nice good rise.

At this juncture, not sure how price will move, no clear level to observe.

How to read this

Before trading day, I see that 2300 is an important level. Price will either shoot up from this level or reverse at this level. Indeed, price reversed at 2300, the challenge is how to read this in real time.
There isn't any obvious from the chart. Will need to observe this kind of behavior more.

Correction.

This is what I'd like to see. price move up from low of 2285 to 2300 range. bouncing through it and move further up to 2315

Very different from what I'd like to see. But it's fine, we cant' be right all the time, we're fine as long we've good expectancy.

Too Fast to enter.

There is opportunity to enter immediately after market open. But it was too fast, before you know, price moved away. This is one problem with volume chart, there are lots of bars but no time.

Extending yesterday's plan

Price moved in a very narrow range (~10pt) yesterday. Same game plan today.

Price didn't move down as deeply as I like. It did respect the zone formed on 12 Jan

Like to see deep retrace

Like to see deep retrace.

Big Picture

Deep Retrace during market open

Price drop sharply during market open with heavy volume. Down to mid of zone, price hover around top of zone without good signal for entry.
Price move back above zone before testing top of zone with increase volume, it failed to penetrate the zone and have no follow through as indicate by lack of interest (volume).

Not a clear day

Not a clear day for me. price is moving higher everyday... time for correction.

Price moved in a tight range for the day.

NQ Moving higher?

Not so easy today. NQ is threading bottom of channel formed in past one month. I'd love to see it fly.

Nice move, the retracement dip further into 5th Jan zone.

Consolidation or Distribution

Price moved in a narrow range yesterday. Is this consolidation for a move higher or distribution of gain made over past few days?
Looking at the week move, lets see what happen when market open.

It's really nice seeing how price react to those zones. The retracement after breaking down 2270 was deep and slow. If you look at time based chart, its a good 45 mins of struggle before price drop down sharply to 2252.

Dont' like what I see

Don't like what I see, we're in unknown territory. New high of past 3 years, in a upswing, I don't want to call top in such move. Higher probability catching bottom.

Time for Rally

Foresee some fighting to move up, safer to long when retest 2252

Very nice, move according to plan.

This is the Volume

Look at the difference a new year make. Volume on 1st day of 2011 is easily double or tripper that of last few days of 2010. We are back in the game.

Price jump out of 2237 zone. lets see how price react at the retracement zone

Price gapped up, hover around retracement zone. A quick surge and retrace around 10:24 (Green/red bar) actually form at shooting star testing 61.8 line . Price drop past FE