ES Journal - 2012
- Thread starter Buy1Sell2
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My guess is that the market will not do anything outside of the current day's range until beige book. It will sucker in as many people as possible to establish a position, and then it will break out, probably taking out as many on both sides as possible. That's the script I would write if I had to guess.
And for a time-based perspective: looks like a bull flag to me. Buyers clearly established their desire to buy above last week's high, twice very clearly, at 82 and again later at 84, their footprints are easy to see. However, they have not yet really taken the bull by the horns (pun intended) and been willing to actively buy higher. Again, my guess is they are waiting for beige book.
http://screencast.com/t/MvlZeZya
I just don't think it will go right now, and don't want to get shaken out. I'd rather miss it than get positioned, shaken out for a loss, and then it go my direction (as has happened already today)
That's an ascending triangle, you are right, but this is holding up just a bit too well HERE isn't it?
i smell a rat
ps not you
ahhhh....relaxed. Now maybe I trade the touches of the tl with the trend or reversals at the tl with a scalp stop?
direct uptrend inside a channel and I still get suckered into s/r or breakdown trades....foolish. And always a great way to lower your income.
edit: alarms set...now to "listen".
direct uptrend inside a channel and I still get suckered into s/r or breakdown trades....foolish. And always a great way to lower your income.
edit: alarms set...now to "listen".
Quote from Trvlwanderer:
ahhhh....relaxed. Now maybe I trade the touches of the tl with the trend or reversals at the tl with a scalp stop?
direct uptrend inside a channel and I still get suckered into s/r or breakdown trades....foolish. And always a great way to lower your income.
edit: alarms set...now to "listen".
this is one tough day...hang in there
sitting here all day breaking even.. waste of time
edit: not over yet, we have the whiole afternoon, this might trend;they are trying to put you to sleep!
ps ps all my comment is IMO
i've come the full circle..:eek:
trading smack in the middle of the upper distribution. Weekly profile (for this week) on the left. VAH is the green line and black arrow extended. We are pushing against it, and if we can break through to the other side it may be all downhill from there (meaning, price up 
)
http://screencast.com/t/TEhZPmQF5vkK
)http://screencast.com/t/TEhZPmQF5vkK
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