Real-time options education and strategies
Friday, Sep2, could, in retrospect, be an important day in revealing a clue to the next directional move in /ES (S&P 500 index futures) and the other stock indexes. The low of Thursday (#2), Sep2, was 3903.65 and price rallied strongly closing near the high of the day leaving a relatively long lower wick and … Read more
Yesterday I tweeted that there was an opportunity to add long /ES (bullish) Deltas on the potential 30-minute bullish reversal. The buy zone was 3971-74 and the stop was 3964.50. That’s 10 points of risk. That’s important because I didn’t know that it was a bullish reversal, only that it had the potential to be … Read more
(1) The white line with the dot on each daily candle is the Half-Back (HB) line. That line is the mid-point (50% retracement) of the prior day’s range. When price is in a strong trend it’s very typical for price to find support (in an uptrend) or resistance (in a downtrend) near HB. Some overthrow … Read more