ES Journal Archive (2006 - 2008)

its amazing how few people recognize that last week was the bottom and start of a major rally.

75000+ members, and Im the only one thats bulli$h

I like those odds

 

Do ya think that it had something to do with the New Home sales at 10:00?

 

zod,where are your fibs,was 1215 a fib

 

out at 1212.00

 

15 min reversal bar is in play.
will look to go long next afte the completion of this bar.

 

Pardon for asking, what is the point of going against the trend for 2 points ?

More importantly, what made you change your plan ?

Daniel

 

ammo,
1215 is 50% retracement of the range for the week.

one full extension of yesterday's RTH range would be ES 1217.75

 

15/16 76%, 23 is 100%. I would be looking at 20.

 

There is nothing wrong shorting in an uptrend. The better question is why he got out so early? There was another 4 points in it...(at least)

 

thats a good question. i will attempt to answer it.

basically i look at order flow for quick profits. sometimes the orderflow is weak and i look to get out. i like to set my wide targets just in case the move is strong and order flow bares me out. Globex is a great indicator on the strength of the ticket. my reading was that the pullback might not be that extensive so i decided to take my 2 points and get out. the charts are showing a rather bullish set up for the day so i will look to bottom fish for a long that could carry me until the close.