ES Journal - 2012

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Quote from gmst:

If anyone is listening, this is a great point to short.
current bid @ 1426, target 6 points, stop 3 points
Unfortunately, I don't have margin to short anymore :(
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That's how I usually see things when feeling heat.

You will be right soon enough, but it may be after the covering pushes this to 36
 
Quote from Laissez Faire:

Hello 1430.

What next?
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After 1430, I`m looking at 1434, 1436,50 and then 1441.

On the daily chart, there is still potential to top out in the 35 area for a double top, if not, it looks like it's back up once again.
 
Quote from Laissez Faire:

Why is it?

I`m not convinced. I wanted to short as a day trade, but I was disciplined enough to wait for confirmation and not get in early. Thanks to that, I did not get trapped in what was only a pullback to support.

I think this could be one of those days were we simply grind higher, but I`m not interested in going long either. I`m considering taking the day off until tomorrow.

Breaking out of this zone on higher time frames should be of some significance, no?
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my suggested trade has already suffered -2.5 excursion. lol

I haven't been trading well from yesterday so take anything I say with pinch of salt. We should re-visit 1424, maybe 1420 is a bit of stretch given the good buying we have seen from the open.
 
Quote from gmst:

thanks ammo!
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TOS is free if you want those and don't have them already.

Stalled at 30 as expected, but we took out last week's range at the solid black line. Possible resistance zone here, but not so sure it will hold. Looks pretty bullish, no?

I`m going back to my other studies with the charts in the background and I'll plot the 50% level continuously to see where we trade in relation to that. May be interested in a short later today, but I somehow doubt it will happen.
 

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