ES Journal Archive (2006 - 2008)

Discussion in 'Journals' started by Buy1Sell2, Mar 2, 2006.

Thread Status:
Not open for further replies.
  1. Covered at B/E.
     
    #18791     Sep 6, 2007
  2. volente_00

    volente_00

    #18792     Sep 6, 2007
  3. We're definitely making it to 1485.50. And way I say definitely, I mean MAYBE.:D
     
    #18793     Sep 6, 2007
  4. Saxon, did you catch that breakout? the good thing about momentum is that there is a powerful force working to reverse the market, the key is not to get too greedy. I like them for quick scalp plays.
     
    #18794     Sep 6, 2007
  5. jagmot

    jagmot

    Most of the market internals are positive, not sure why you would get short here on a trending system. I would classify this trade as more of a counter trend / reversal.

    Although shorting at 1481 at that time frame was a good r/r play (I didn't take it but I was also not in front of the computer)
     
    #18795     Sep 6, 2007
  6. LONG 1479.75
     
    #18796     Sep 6, 2007
  7. jagmot

    jagmot

    I'm long here as well
     
    #18797     Sep 6, 2007
  8. if you mean the price action to the extreme right....it`s not really a textbook setup as the neckline has a series of higher hi but certainly viable....especially with price action forming that bullish base.....nice observation.

    expecting a move to 90 eventually but i`m not crazy about us taking out that active lo at 78.25....bit of a 3 min diamond formation.
     
    #18798     Sep 6, 2007
  9. Gary Smith points out in his books on daytrading S&P futures how these mid-day swoons can be scary but are generally bullish for the afternoon. Note how the price snapped back after taking out the so-called "breakeven" stops all the way down to 78.25. Swoon drives out weak longs, who sell their contracts to those who will then resell them higher during the afternoon rally. Indeed, this is going on right now. For how long, who knows?
     
    #18799     Sep 6, 2007
  10. we don`t want to see a lower lo here...below the 50% ....or it just may ruin our black panther party...:eek:
     
    #18800     Sep 6, 2007
Thread Status:
Not open for further replies.