ES Journal - 2013
- Thread starter Trvlwanderer
- Start date
Looks like it may turn over st. I thought that before and I was handed a 6.5 handle loser (1630 -1636.5). Can't believe that was 20 handles ago, jeez.
I am shorting now at 1657. Target ~ 20 handles. Stop 1660.5
Also short SHW (a stock). Looks like it had a short squeeze capitulation 2 days ago. Looking for a largish move down if the market sours (as if....)
I am shorting now at 1657. Target ~ 20 handles. Stop 1660.5
Also short SHW (a stock). Looks like it had a short squeeze capitulation 2 days ago. Looking for a largish move down if the market sours (as if....)
Watching cl's push back through res. converging again.
We are pegging res on all trendlines for spy/spx....but it can easily retrace a small % and continue it's thrust.
Very difficult for me to short anything larger than a 6-10 point target. Risk remains to high for me.
We are pegging res on all trendlines for spy/spx....but it can easily retrace a small % and continue it's thrust.
Very difficult for me to short anything larger than a 6-10 point target. Risk remains to high for me.
Guys/gals, I've got a major confluence of resistance levels coming up on all of the index futures. I'll be looking at more upside as an opportunity to try a contrarian play (that which shall remain nameless, hehe) in the coming days/week.
Maverick74 mentioned his sentiment indicator is flaring up, that might be interesting to learn. And, I agree that 1000 on the Russell will serve as a psychological area to watch for a possible bear defensive, and this does correspond with an upper channel resistance.
Good trading to all.
edit: BTW, my outlook is not minutes or hours.. looking for a swing trade, at the least.
Maverick74 mentioned his sentiment indicator is flaring up, that might be interesting to learn. And, I agree that 1000 on the Russell will serve as a psychological area to watch for a possible bear defensive, and this does correspond with an upper channel resistance.
Good trading to all.
edit: BTW, my outlook is not minutes or hours.. looking for a swing trade, at the least.
That's good to know since we are hitting all time highs in many areas.
I await your findings and decisions with cat-like patience.
Quote from Trvlwanderer:
That's good to know since we are hitting all time highs in many areas.
I await your findings and decisions with cat-like patience.
Already have the levels mapped out. We might not even hit them. They're clear as day to anyone willing to look at the bigger picture, lol.
For me the game is simple. Snipe the entry and manage risk around that precise entry. Since I hate losing, this works well for me because it contains the losses. Yes, I might have a lower win percentage.
About your all-time high comment, I can understand why people assume there is no resistance at all time high. I've studied this for over a decade and, believe me, there is.
You've said nothing new and it would be an insult to think most traders on this board do not realize those very things.
I don't know who is "assuming" anything other than you, hence my comments. I hope your decade has been a pleasant study period. After a few more you will be even smarter.
No need to respond.