ES Journal - 2012

[Laissez Faire]

Looking a little more heavy now, but not dropping yet.

Interesting that yesterday`s high at 60,75 was respected to the tick. I even considered a stop at 61 on my now closed out trade, but reasoned that 60,75 would probably be taken out if we traded that high.

 

[uptickk]

eur/usd keeps pushing higher which isnt helping the ES drop

 

[Laissez Faire]

Offering 2 contracts to the t-day boyz at 1368. Come get me.

 

[Laissez Faire]

Is this a bull-flag on the 5-minute or is the top in for the day?

Unless momentum should pick up, I don`t think I`m interested in shorting right now considering the support at 56-57. Conversely, I don`t feel like initiating a long either.

Back to watching paint dry...

 

[bigsnack]

Quote from Laissez Faire:

Offering 2 contracts to the t-day boyz at 1368. Come get me.

Looks like I might see you there

Although for what it's worth the afternoons have been horrible and choppy as far as my own personal strategy goes.

 

[Laissez Faire]

Quote from bigsnack:

Looks like I might see you there

Although for what it's worth the afternoons have been horrible and choppy as far as my own personal strategy goes.

Yeah, it seems like it.

How you`ve been doing lately in this choppy environment then?

I will probably choose a market that is more consistently volatile for most of my day trading when I get to set up my office once again. Maybe crude oil.

Broke out of the bull-flag now, but will there be any follow through. Does not seem like there is much steam left, so it may be a fake.

 

[Laissez Faire]

If this last push up culminates at 59-60, we have a small intraday H&S for those who fancy those.

 

[Laissez Faire]

Quote from Laissez Faire:

If this last push up culminates at 59-60, we have a small intraday H&S for those who fancy those.

Neckline around 58, but it looks like that may hold and we will make new highs.

Honestly, I do not see anything clearly from here, but I think I would bet on higher if someone held a gun to my head.

Would love to offer those 2 at 68 by end of day, but I will not take the ride up if that should happen.

 

[bigsnack]

Quote from Laissez Faire:

Yeah, it seems like it.

How you`ve been doing lately in this choppy environment then?

It's rare that a morning goes awry for me, but I have been giving back in the afternoons, even though I KNOW I shouldn't even be trading them. My performance for the past 2 weeks has been completely flat. I'm chopping in a range actually.

 

[Laissez Faire]

Quote from bigsnack:

I'm chopping in a range actually.

That`s funny.

I thought you were only trading sim ferraris in the afternoon?

I remember some confusion with regards to R10 earlier in this thread. As ammo pointed out earlier today, we had an R10 from 50,25 to 60,75. Cool?

From there we retraced down to 57,25. If that swing low holds, we can look for a new R10 projected from there which will then be around the 67 area, give or take.

Not saying we will get it as this market looks very dead, but it lines up nice with prior ranges and is not a stretch in terms of the daily expected range although a little above what is normal recently.