ES Journal Archive (2006 - 2008)

But you were speaking hypothetically, I did nto see you specifically recommending to trade that position

 

Thanks. 1490-1502.50 is consistent with my work showing 1496-7 as the middle of the resistance zone. Low 90s would be a good exit target for longs.

 

Hi, Wave

Are you familiar with Taylor's method (commodities trader from the 50's)?

 

The midway between 1566.25 (high of contract) and 1432.75 (yesterday's low) is upper 90's (1499.50, to be exact).

 

Smiley you impress me more each day. First wyckoff, now Taylor.
Yes, I am familiar with the Taylor Book Method.

 

I thought you might.

Taylor probably would have bought yesterday's morning weakness, would have been looking to sell sometime on this afternoon's strength, and would be looking for a short selling point tomorrow morning.

 

Yes he called them support/resistance envelopes .

 

1492 is a number that keeps popping up. we spent some time there on the way down and it was the low on 6/27.

 

covering before fed. Not worth it.

 

This is too easy today. I know what you are saying, there is always room for surprise. I am looking for that quick volatility drop though. Good luck to all today.