K. Edwards Journal of stuff

Discussion in 'Journals' started by Kedwards, Aug 30, 2009.

  1. Another f'n journal. Jotting down my thoughts on ES in here, felt I was polluting the coveted ES Journal with my bs. Welcome to comments and feedback. I know nothing, learning by watching. School just started, and my mind has yet to acknowledge the fact that the semester has started, but, point is, posting may not be consistent, especially around midterms/finals. God, did summer pass alrdy!?!?!?!
  2. OK, first thing, looking for 1022 to hold as support here, was intraday low on Friday. I'd say long limit if touched 1024.50 is a good bet, which would be off support of 1022 level, double bottom type of scenario. On short side, I really don't know, I think there's a lot of inventory between 1020-1022 area that will react overnight if reached. Maybe if it pauses in that area and doesn't move much, could setup a bracket 'straddle' type trade. Got to talk to my girl and side chick, maybe update later.
  3. ROTF :D
  4. So much for 1022....
  5. Actually he called it pretty well.

    Support is about to come into play ... just keep watching.
  6. Alright I'm back, girls outta the way.

    Wow people actually gave me replies, I feel honored, thanks mgabriel and MandelbrotSet :)

    I see that she touched 1021.25, but limited reaction. Thought we would have seen 5,000 contracts come through on a 1min in a blip. Still holding 1022 range.

    I was reading some old ET posts, there was a thread by a guy '5Pillars' who talked about bracketing the opening breakout, i.e. long above x level, short below x level. I think this could work around support/resistance levels as you typically see a breakout reaction around them. I'm still very n00bular, obviously, so if anyone has feedback on it, would be appreciated. Also, 5Pillars had programming background and a multi-level strategy to handle chop, etc., much more advanced. I was just thinking about a bare bones version, i.e. long a couple points above a support bounce, short a couple points below a support break. Though, doing that certainly wouldn't fair well in chop around S/R.

    Anyhow, again, 1021.50 held so far, but I thought would we would have seen more volume come through and a sharp bounce/break. Moved a little higher, at 1022.50 as I type this, so I don't really have a bias.

    Again, if she reaches 1024.50, maybe even 1023.50, that would be a good bet on double bottom support to go long, target, say 1027ish. Stop would be 1021-1022 area if she comes back for a third bounce or finally a break through.

    Short side, if she comes back to 1021.25 and goes through it, there's got to be tons of stops in that area, especially holding up 1020.00. Would look to see massive volume there. Not sure you can put on a clear short though. Watch that massive volume come through and then she moves higher. If, by chance, she flatlines at that 1020 level, maybe put on a bracket, say, short @ 1018, long @ 1022, betting on a breakout. I've looked back at some intraday charts, a lot of times when she flatlines after a huge volume spike, you can try to play her both ways. Only problem is holding on through the chop, if there is any, once your trade gets initiated. If she does the flatline and moves lower, then hopefully you're clear to 1015, where we pivoted higher on Thursday morning.

    These are random ideas I'm thinking of, this'll be good to come back to in the morning and see how f'ing right/wrong I was.

    Don't have the stamina to watch her overnight, school tomorrow, g'night.
  7. If history is any guide you may be regretting future posts when the hyenas show.
  8. I'm awake. Hey QQQBall :) Hyena's? Bro, I watched Lion King, I know how to fight them. Just call up my boy Simba and the lionesses :)

    Alright, she didn't do much of anything. 1019.25 touch and moved higher. If I was fast, that 4:05-4:20 period was the time I was talking about for that bracket straddle thing, to go long 1022/short 1018 for a breakout. Wouldn't have worked much though, I'm surprised she only got up to 1023.25 and has come back in a little. Ranging. Same ideas long and short.
  9. Is that supposed to be a shot? :eek:

    LOL :D

    And I used to be so supportive of your sob stories where you talked about how your ex-wifey was taking all your money and screwing the pool boy, QQQBALL. :p :D :eek:


    Now, back to business.

    After Friday's drop and the overnight rejection at the Pivot Point price is consolidating at S1. The overnight bottom was established at 1019 ... and I'm betting it holds for another run-up back to 1029.

    Good trading

    P.S. I see you have a similar setup in mind there, KE. Normally I don't trade Globex, because RTH provides much more insight into what price is going to do, but I like the way this setup looked, so I took it.

  10. So much for 1022
    Still watching........
    #10     Sep 1, 2009