Nov 242010

Today is the day before a major US holiday so I expect it to be a little slow.  Yesterday was perfectly balanced so I’m thinking today could be the same.  If I don’t see signs of OTF activity I’ll be looking to fade moves away from value.   Yesterday’s High, Globex high, & CLVN 86.50 on the upside and Yesterday’s Low, Globex low, & CLVN 71.75 on the downside.  I want to avoid trading near the CHVN at 79.00 as trading could get “stuck” there on a low volatility day.

If I see a strong move I’ll look to get on a pullback to a level.  I think we could have some activity this morning and then drop off afternoon so I don’t plan on trading the US afternoon session.

The composite profile chart (on the left) is based on 24h data so the levels could be off by a tick or two.  I haven’t found that to be a problem and having it on my main trading chart keeps me from copying them by hand and/or missing levels especially when they shift.

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