Tuesday, March 31, 2009

Range Estimate

Here is a chart of today's e-mini trading. I still think my range estimate of 800-775 is viable. I got short a unit at 789 because the market had been trading sideways for 30 minutes and I didn't want to let it go down without me. If I don't see good results in the next hour or so I probably will get out and try again later, hopefully at a better price.

I think resistance today is in the 797-800 range and it is pretty strong. Therefore, any strength above the 800 level on good volume would make it likely that the reaction from last week's high at 830 is over.

1 comment:

Anonymous said...

Hey Carl,

Just found out about your blog.
simply speaking, just love it.

I share lot of your trading philosophy.