ES Journal - 2012

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Quote from ammo:

i see that but picking the low is arbitrary ,yes
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It is a moving target. I continually adjust the level until a significant reversal is in place.

I also find that whenever we get a 50% level coinciding with an S/R level, it can be very powerful.

As LF said, if I was a real player, I would have pulled the trigger. I am trying to stick to a "one and done" approach these days, meaning if I have a winning trade before lunch time, I am done for the day.
 
Plotting the 50% should be done throughout the whole day.

Often the market will retrace up or down to the 50% retracement of the first 5-10-15-20-25 minutes or whatever.

An ES trader is wise to keep his eyes on it. :)
 
Quote from Laissez Faire:

Expecting support at 01,50 now, if we go higher. Anyone know why 01,50? :)

But I will probably just watch around here.
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How could you have known that in advance, Laissez Faire?

I`m impressed. :)

Answer: Prior resistance now acting as support and also the 50% retracement of the leg up from the day low to 1305,50.
 

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Quote from Laissez Faire:

Plotting the 50% should be done throughout the whole day.

Often the market will retrace up or down to the 50% retracement of the first 5-10-15-20-25 minutes or whatever.

An ES trader is wise to keep his eyes on it. :)
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If you happen to use NinjaTrader charts... let me automate that process for you :)
 

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I think I may take the day off now, but it looks like the 01,50 and 05,00 is a dead zone we may chop around in for a while now.

Fairly convinced that we`re done below.

I can see us take out 05 and make a run for yesterday`s low or even close. Not really sure though.

Any takers?
 
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