ES Journal Archive (2006 - 2008)

Okay, you're forgiven.

 

Look at previous declines three days before options expiration like today is.

 

And there they are!

PT1 is 1447.75 for +16.75. Will hold half for higher.

Is it my imagination, or did we just blow right past the pivot without stopping for breath?

 

with you at 1431 long....
respect to all here....

 

It is definietly ok to get stopped out, but when I'm asleep (or others may be at work) I may not be able to re-enter the trade. So overnight trade I made, I didn't want to get stopped out from noise from CPI, and not be able to get back in. Most of my trades are for 2 pt stops with the aim of getting 6 points, and with trailers sometimes I'll get more than just 6.

 

Ok we have broken the daily pivot and I am now long at 1442.50 on a retest. Looking for HOD with stop just below 1440 for risk reward of about 2.5 to 1.

Edit: stopped out

 

60 minute channel..

 

move is done...watch for a reversal with break of the lows.

 

Bulls gotta hold 1435 or Spectre might be right! :eek: :eek: :eek:

 

depending on scale, 60 minute ES chart also shows a potential descending triangle bottom or consolidation pattern for next move lower.

I see a strong break below 1436 (maybe today) or above 1450 (maybe tomorrow) as signal for next trend move.