ES Journal - 2012

[Trvlwanderer]

Quote from JoshDance:

with a max peak to valley retracement of 6 ticks... in other words, if you wanna play, you gotta pay (up, I mean) ... only thing worse for me would be if I were trading live today and had given up on my 54.25 long when I did

once a trend line is established after an early low, the typical pattern has been a solid run. Hard to jump on the train and once gone from the station it stays above the lower tl.

too treacherous for short swings except for maybe 1/2 points near very top of tl.

It took me a bit to learn this pattern over the past 12 weeks looking for shorts in all the wrong places.

 

[Trvlwanderer]

eur is at the top of it's bear flag channel. either a breakout or a couple point corresponding drop in ES is likely.

 

[ammo]

Quote from ammo:

we are fighting a big tl here,takes a while for these big positions to turn if they are going to ,have to unload long cargo and reload short cargo

just dawned on me that at major upper tl's we get slow turns(vs v shaped turns at major bottoms) and all this grinding in a 15-20 pt range is necessary for the above statement to happen and i should have been reducing at pullbacks to take advantage of it rather than holding for the big drop

 

[ammo]

dvol/uvol even

 

[EliteThink]

Quote from Lawrence Chan:

3 weeks in a row, weaknesses failed to confirm by Friday close.

Oh, almost all important tops start with sudden crash like selloff.

That is the only way to catch most people on the wrong side. =)

when it does roll over it will likely be a large bar but an extended move would not be needed for the market to take a breather.

always enjoy your input LC.

 

[Trvlwanderer]

so es continues to bounce from it's lower and eur brokeout. TA 101 day for sure. until it isn't

 

[Lawrence Chan]

Quote from EliteThink:

when it does roll over it will likely be a large bar but an extended move would not be needed for the market to take a breather.

always enjoy your input LC.

Thanks.

This morning the gap was not big enough to induce further selloff.

 

[traderrn]

http://screencast.com/t/B5aksJY1V

 

[Trvlwanderer]

trans leading. finnies too.

 

[ajcrshr]

Germany's Merkel does not win the second Greek bailout vote without opposition support according to a parliamentary source

Funny: RTRS CORRECTION: Germany's Merkel wins second Greek bailout vote without relying on opposition votes according to a parliamentary source