ES Journal Archive (2006 - 2008)

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

Thread Status:
Not open for further replies.
  1. ....spx daily ... 161%
    ... should a been watching the fibs.... dang!
     
    • fibs.jpg
      File size:
      384.5 KB
      Views:
      87
    #23411     Nov 9, 2007
  2. Absolutely clear, isn´t it, JSSPMK ? :p
     
    #23412     Nov 9, 2007
  3. I notice lots here use fib levels. Do you guys think this adds to your analysis and how? I just started pulling them up for nq and it has been helping, but I dont know how much is just pure dumb luck.

    Also, I havn't had time to read far enough back, but I remember some people using pivot points as well earlier on. Can any of those people give me a read on the pivot points tomorrow for ES. I'm trying to see if ninjatrader with my data feed is getting them correctly.

    Thanks guys. GL tomorrow.

    Also... I know how weak the ES, YM, NQ are right now but how about the ER2.

    I also position trade and was wondering what you all think about the hammer on the russel today.
     
    #23413     Nov 9, 2007
  4. Here's the image (woops)
     
    #23414     Nov 9, 2007
  5. ... the low was 61.8% exactly.... from august low to the high....
    ...looking for more than 78.6%....
    http://www.mypivots.com/dn/?symbol=41
    .... on spx.... from 1520.77 ... 423%
    ... and from 1552.76 .... 261%
    ... match up..... at around 1389
    ... that is just beyond my pattern target ... so seems like a reasonable target at this point.... :) ... unless we rebound from here....
    .... edit... oh also.....the august low was a 23.6% retrace from oct '02 low ....
    ... a 23.6% retrace now would be 1385....pretty close to 1389......
    ....fun stuff .... ;)
     
    • fibs.jpg
      File size:
      409.3 KB
      Views:
      102
    #23415     Nov 9, 2007
  6. JSSPMK

    JSSPMK

    Fibonacci is a very useful tool, especially so in trending markets, I know for a fact that Leo Melamed at least used to use it.

    As far as pivot levels I put value in daily pivot and S2/R2. For example whenever price fails to go through a daily pivot and histogram registers lower peaks that is one of the signs pointing to weakness. R2/S2 I find good target objectives whenever there is no trend ie range session.

    I guess it's all down to how you research and implement these tools, they are just tools and will work when paired with an experienced trader.
     
    #23416     Nov 9, 2007
  7. ..... i have a question which may seem a bit off.......
    ..... at the august low.... was anyone getting a buy signal BEFORE the fed stepped in ?
    ... thanks... noob....
     
    #23417     Nov 9, 2007
  8. I rarely see it mentioned, but there was a trendline touch at 1370 from the low in 2003 right before the market took off. The bigger the timeframe, the stronger and more highly regarded the TL is. I think you had anyone in the world that wanted this bull market to continue lined up as buyers at that level... as I expect they will be again if we happen to approach it again. Do you remember how quickly we rocketed away on that bounce? I didn't have the TL drawn at the time so I was dumbfounded.

    As a side note, check out the divergence on that weekly chart... scary aint it?

    BTW what does S2/R2 mean?
     
    #23418     Nov 9, 2007
  9. opt789

    opt789

    Put your chart on log scale and that trendline does not fit.
    The bounce, imo, was a combination of everyone looking for a bounce at -10% and the fed easing the next day was leaked.

    Anyone watching the carry trade, the last time it was this low was May 2006.
     
    #23419     Nov 9, 2007
  10. .... yes... if this turns into something bigger... then i will be looking for spx 1327
    ..... i think s2/r2 means support 1/resistance 2 ... pivot levels
    .... www.mypivots.com ....
     
    #23420     Nov 9, 2007
Thread Status:
Not open for further replies.