ES Journal Archive (2006 - 2008)

S1 - 1448+
S2 - 1441+

Using 24hr Globex chart.

 

Sentinel Management. Asked the CFTC to allow them to halt redemptions. A run on the bank.

 

Here is the visual.... This is what you are looking for to negate a pattern as well as a zone. Who knows where it will bottom but the probabilities after that low was taken out is that we continue lower rather then explode to the upside.

 

PPT will be working hard here at 38/40 neckline on the 60 min.

we have a measurment & target of 1370/1380 if we punch thru this NL.....free fall ,but i expect a fight first.

 

apex82,
could you take just a moment to describe what you want to see as a "reversal bar?"

 

Adding on to short here at 1440.50, 6-tick stop.

Apex, what are you PTs for this trade, please?

 

A move above a prior bar high by at least a tick. Some people even like to see it close in at least the top 1/4th of the bar.. .but I am not that picky.

You can see when trading in the zone we never got one... this exhibits that the bulls can not overcome the bears creating a squeeze.... therefore they run it lower.

 

Also see this in bear flags though.

 

tomahawk,
I think it depends on the time length of the bars you are looking at. I think apex82 was referring to a 15 minute bar.
Is that correct apex?

 

Somewhere in market wizards a trader says a bear market is when all news is bad, and in a bull market all news is good, something to that effect. Thought for the day.