er2 break out of channel

Discussion in 'Index Futures' started by rdm239, May 3, 2007.

  1. rdm239


    Anyone else see er2 break out ?

    I think we'll see 834.3 in the next two hours.

    anyone disagree/agree?
  2. rdm239


    bounce off 832.2 and jump?
  3. gov


    Yesterday was a trend day--I got just about all of it for a change--but it felt weak at the last hour. Today looks like heavy chop, I exited 834.10 and looking at the chop I personally am not longing it today again. In fact, I think I'm off and going to go enjoy the sunshine, take the dog on a walk. Best of luck today!

    Oh, and those damn bots this morning were scary, hate sitting through those jumps. Be wary if the vol is low this afternoon.
  4. rdm239


    I lost a couple ticks being wrong above....er2 still in a channel now bouncing lower. Maybe to 830ish?

    Thanks for the info gov.....this morning was tough at about 9:50 there was an unbelievable gap up. My stop loss got filled three ticks worse.
  5. gov


    Yeah, on days like today I would try for around 830.50, which would happen if that low to the left gets violated, but it's still in an uptrend, so the new local low would reject and then up again. I tend to place the orders then watch the action as it gets close. Sometimes I'll take a small position that isn't the best entry if I think it has reversed, ie smaller my size when I don't get what I want.

    IOW, if it isn't doing what I think is "normal" I only really want the very best entries, or I try to bank my money early and then refuse to give any back. Good luck again! The dog's getting crazy so gotta go walk.
  6. Arnie


    I bet we take out the highs.
  7. gov


    I am thinking nothing over 835 today. That is all. Beware the groove....

    I just don't smell the updraft
  8. rdm239


    there's been about 2 hours of good trading the last two days
  9. gov


    :confused: Not sure what you mean. Yesterday was one of those great 1 every 3 weeks kinda days all day. Get long and stay long all day. That's my kind of trading; that is, low excitement with a lotta dollars flowing in.
  10. rdm239


    i understand what you mean but if you didn't start trading until around 10:45, you missed the whole thing. And there hasn't been much today unless we keep on dropping thru 831.

    That's kinda what i mean. Thinking about it tho, this week has been good so i should complain too much about the last day and a half.
    #10     May 3, 2007