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If we can move decisively below 1550 and turn that support into resistance, I'll move my buy stops to break-even and go out for lunch. I'm getting hungry, so if any of you can exert any downward influence, I'd sure appreciate it.:) EDIT: Padded shoulder?

Looks shouldery to me on the 1- and 3-min charts.:) This could be a good place to add to longs (with just a bit more downside confirmation). A nice selling tail is developing on the 15-min. If we now drop below 1550, it's parachute time. OOPS: I meant "good place to add to shorts"!!! I'm...

Here comes the right shoulder!:)

Bonds broke through key support on June 1st (around 109 to 108 24/32 on the US contract), and that support is now resistance. There's a decent chance that bonds may retest those levels in the coming weeks, but I wouldn't bet on them breaking out above them and would view the retest as a shorting...

Stopped out at 1539.25 for -1.25 pts :mad:

A 2 *tick* target? Why so greedy? :)

Looking to go short here, waiting for confirmation... Trying to get short at 1538.00, not yet filled... Okay, filled short at 1538.00, stop 1539.25 (1.25 pts) Scalp trade. Entry based on: - two big buy volume spikes of 15K to 20K contracts/minute - Overbought RSI in 1, 3, 5, and 15-minute...

The uptrend line that you're calling major is the one I would call sub-minor. My major uptrend line (dating back to July 06) is around 1430. My minor uptrend line (dating back to March 07) is around 1497. Although I'm presently bullish, I think it's important to remember that it's a long...

S 1533.75 @ 0800 EDT Cover 1529.25 @ 0835 EDT (after PPI report) +4.5 Current thought is to scalp cautiously on the short side until the market pulls back to 1520-ish, then to enter long swinging for the fence with a target above 1540. Of course, in the final analysis it all depends on...

Market did nothing for about 25 minutes, then took off for the upside. Did you close out the add-on or keep it? Hope it was the latter.

Indeed. I really have to leave now, so closed out of my short at 1514.00 for +4 points and now done for the day for real. Nice trading day. See y'all tomorrow. :)

That would be me. :)

Gosh, that worked well, didn't it? :) (Just back from taking a shower.)

I lied. Now short at 1518.00, 1.5pt stop at 1519.50. Nice selling tails and confirmation on 3- and 5=minute charts. If you squint real hard, you can almost see us making the right shoulder of a H&S top, albeit a bit asymmetrical. Or not... :)

Stopped out most recent long at break-even. Now flat. I've got to go out soon, so quite possibly done for today.

I for one am not at all certain. If we reach 1518, I will move my sell stop to break-even (1515.50). If price action looks poor, I will close out my long and start looking for an opportunity to go short. At present, however, I think we have a decent chance to re-test HOD at 1521 and (if stops...

Earlier long trailing stop hit at 1517.75 Reentered long 1515.50, 1pt stop at 1514.50 Target HOD or higher (Apex: typing this from hotel room in Boston. Brought my HP 15.4" 1280x720 notebook plus a 22" wide flat panel display 1600x1050. Makes an acceptable away-from-home trading platform.)

I disagree. As a professional educator, I can tell you that the lesson is much better learned if the student has to work hard to learn it than if the teacher hands it to the student on a silver platter. Do I understand how Apex creates his fib-confluence zone charts? No, not yet. But I have...

Well said, sir, well said! My sentiments exactly. Brother Apex has more of "the right stuff" than any daytrader I've yet encountered, and his generosity in sharing his ideas and methods and posting his trades has been a gift of immense value. Watching Apex trade invariably reminds me of...

You're seeing firsthand the "wall of worry" that propels the market to new highs. It's when everybody's bullish that it's time to go short for "the big one." Funny...five minutes before I read your post, I was looking at a daily chart of the ES on which I'd drawn pretty much the same...