ES Journal - 2016

--Long 1851.25 Initial stop 1848.00. 10 times margin

 

only took 2 minutes

 

Stopped for loss of 3.25 pts

 

--Long 1848.00 Initial stop 1844.00

 

Stopped for loss of 4 pts

 

pull up a 15 min candles...look at the tails, and the heads. lots of indecision after that big red one just before. and before that a DOJI you could drive a BIG RED mack truck thru.

thts big red flag, imo.

and, now? we closed on lows.

i'm not buying the "bottom" here.

 

very nice analysis jimmie, thank you.

:big red mack truck:

 

LOL, I know it's just a feel for the PA.

 

lol, no jimmie I really agree with your analysis and it helps seeing it because I do see exactly what you're saying. I can quantify it for you using H's and L's but I'm not going to and u don't need me to.

Thanks again. Brooks quantifies it as absence of overlap.

 

Thanks, absence of overlap? Can you elaborate on that? Never heard of this.

I've heard of Brooks, actually have his first book which i'm about half way thru.

I intend to read them all. But, he has never actually influenced my trading (yet)