ES Journal - 2013

Quote from RedTankEra:

Here's some invaluable advice you don't get to hear often.

Channels, lines, diagonals or horizontals, unless they have the back up of a well respected trend, moving average included, over the course of thousands of samples, they mean dick.

You want the confluence of a trend to support your geometrics.
More...

I agree. That's why the break of that LTL this morning meant nothing. There was no trend yet asserted in that time window and the longer term trend was up, so shorting a break of that would be dangerous. You watch price react to the break and go from there. It failed to break with conviction and didn't even test the the slightly deeper level.
 
Quote from pinkman:

Another day in paradise, lol.

ps - Schizo is a great trader. I'm waiting for him to get posting his CL trades again so that I can learn a thing or two from him.
More...

After all this time, I still consider myself a noob--and getting numb and numb(er) by the day. Who knows, by next week, I might be considered something else altogether. Anyway, thanks for everyone's continued support and attention, be it good or ill.
 
Quote from schizo:

Anyway, thanks for everyone's continued support and attention, be it good or ill.
More...

I'm forever thankful for your "hand-holding" when I finally got the guts to trade CL live :)
 
Still holding long.
I reckon we can gap up on Monday for a 'gap and go' day taking us to 1770 area, and then smaller up days for the rest of the week. Maybe 1800 area end of week?
 
Quote from Laissez Faire:

I'm not really a fan of lines or such on intraday charts anyway. I know you use them, but that's usually on higher time frames, no?

What's your take on the ES from here?

Time for a pullback from here, no?
More...

When a line or geometric is supported by a strong established trend, I call it live, and I may look for entries there, when they have no trend back-up, I consider them dead, and will contemplate looking for an exit, assuming I had a position, most of the time I did or else I failed to see the move and most likely dissapointed at myself for missing the good move.

I live in the micro world, 1/2/3min plus 15/30/60/120/240min, I constantly examine the trends within trends that form among those timeframes as I'm mostly a very active scalper, determine areas of high probability and off I go trying to let winners run.

Long term predictions I leave to the gurus of ET and CNBC, I have no opinion outside of the timeframes I mentioned and no interest either.
 
Quote from RedTankEra:

When a line or geometric is supported by a strong established trend, I call it live, and I may look for entries there, when they have no trend back-up, I consider them dead, and will contemplate looking for an exit, assuming I had a position, most of the time I did or else I failed to see the move and most likely dissapointed at myself for missing the good move.

I live in the micro world, 1/2/3min plus 15/30/60/120/240min, I constantly examine the trends within trends that form among those timeframes as I'm mostly a very active scalper, determine areas of high probability and off I go trying to let winners run.

Long term predictions I leave to the gurus of ET and CNBC, I have no opinion outside of the timeframes I mentioned and no interest either.
More...

Cool.

For some reason I thought you were living in the 'macro' world and not micro.

Thanks.
 
Long term geometrics, those shorting could be a tad earlier into predicting the retrace.

Considering the Resistance is "Dead" meaning it's not supported by any trend as these are all time new highs, chances of stop runs and resistance bends are probable so it's wise to let faster timeframes confirm a new downtrend before attempting the counter-trend.

Don't fall into the need to short "high" as you don't know how high it could go, strongly recommend to let at least the 4hour show the bear hand before doing so, the 4hr is a highly reliable tell of the daily, but a bit faster.
 

Attachments

Quote from pauk:

Still holding long.
I reckon we can gap up on Monday for a 'gap and go' day taking us to 1770 area, and then smaller up days for the rest of the week. Maybe 1800 area end of week?
More...

If something like that happen it would be a great technical short. We are surely but slowly getting overbought, but not there yet.

I hope we go there. Its boring when you dont have any signals.
 
You must log in or register to reply here.
Back
Top