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Zooming out to the daily chart, here's another view of the uptrend and the 1531.50 target projection mentioned in the previous post. <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1582145>

Having shared what I was looking at and thinking about on Friday, let me now whare what I was looking at and thinking about over the weekend. Let me start with the shortest timeframe and work up to the longer ones. Heres a 60-minute chart. <img...

You really need to get that CAPS LOCK key fixed! :eek:

One more thing before I end this series of posts: There was no guarantee that the trend on Friday would continue to be up. Trends change, and you have to be prepared for that eventuality. So during my pre-Friday homework session, I also mapped out a trend-change scenario to see what it would...

Given all the crazyness lately, I was a little uncomfortable with the notion of holding a trade over the weekend. So I decided to look at whether perhaps I could come up with a less-ambitious profit target that might be achievable before the market close on Friday. Going back to the same...

Having established that the trend going into Friday was up, my next step was to try to arrive at a profit target for a long trade. For this, I switched to the 15-minute chart: <img src="http://www.elitetrader.com/vb/attachment.php?s=&postid=1582059"> On this chart, I identified what looked...

Last Friday, I made a nice long trade which I posted here in real-time (including my error in exiting the trade too early). I subsequently received several PMs from ES Journal readers asking me to explain my methodology, and specifically how I arrived at my profit targets. My methodology is...

JSSPMK, those are very nice charts and very impressive work. Excellent example of how multiple timeframes should be used in a mutually correlating manner. And I mean that sincerely, whether or not your scenario plays out or not on Monday. Do you use RSI divergence (e.g., grails) in addition...

You holding over the weekend? Or are these sell-to-close?

Could be a nice short entry coming up...

Out here at 1477.75 for +8.25. Bearish divergence on RSI and MACD historgram making me nervous. I had a sell order in at 1480 and stupidly raised it to 1484 when we started running stops there. Got greedy. That's two! Dammit, self, stick to your plan! I might just miss the last part of...

Hopefully coupled with sleepful days. :)

Okay, short-term target at 1480 hit. Resistance at 1479.50 should now be support; it has to hold here to reach 1484. My hard stop is now raised to 1477.75 just in case we don't make it. I think it likely we'll make it eventually, but not necessarily today.

For those of you who follow the ES 240-tick chart, the 100-bar MA has been acting as support for quite awhile. Presently at 1475, and we just tested and bounced off it to the upside once again. Price action still looks bullish (albeit slowish). Still long. My calcs show a short-term PT of...

Spec, you've probably explained this before and it probably went in one of my ears and out the other... Is there some intrinsic economic connection between ES and USDJPY, or is just the arbitrage-bots that connect them? Do you use UDSJPY as a leading indicator for ES? It would seem that if...

Talk about "fed anticipation syndrome": 30-year T-bond futures just hit 111 for the first time, from 109 just a couple of days ago. This is major volatility for the usually-staid treasuries. (I don't play the bond futures, but I do own calls on the Lehman 20-year T-bond ETF.) I very much...

Oops! :eek: Well in that case, where the hell did everybody go? :confused:

Staying in this trade is requiring the patience of a saint, but I'm still hopeful of another run of buy-stops above HOD will propel us to my target of 1480. My plan is still to stay long unless we get back below 1473 support, which so far we haven't done. P.S. 1473 is a "mental stop." My...

What do you mean by that, and how do you know? If you mean that someone is mirroring you or otherwise using specific knowledge of your orders, I'd say it's much more likely an inside job (someone at the brokerage) than someone hacking your network. The latter ain't easy to do. To clarify...

Off having breakfast and catching up on email... I went long from 1469.50 at 12:02 ET. Target is 1480. However, this target will be invalidated if ES paints below 1473 before it gets there. (If that happens, I'll probably exit the trade and wait for another setup.)