ES Journal - 2015

schizo said:
Actually, it's not all that uncommon. Back in the Nasdaq bubble era, this type of recurrence happened a lot. Hence the reason for so many overnight millionaires. To this day, that is why the 10 point moves that you're fond of alluding is such a recurring favorites. Happens day after day.

Let's just hope that today will be an exception. Now c'mon, give me 65! :D
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It was @volente_00 who first taught me the R10, i.e., the rule of 10. When volatility picks up you get the R20s as well. :)

What I thought was interesting about today is that the broad pattern of the days legs are similar to yesterdays legs. That's the kind of stuff I'm trying to capture in my approach to the market.

Yesterday's close was roughly 3 points below the open. So if the broad pattern of this day should turn out to mirror yesterday, we would be looking at a close around 85-87 or so. :)
 
Something like this:

ESJOURNAL.jpg
 
Laissez Faire said:
It was @volente_00 who first taught me the R10, i.e., the rule of 10. When volatility picks up you get the R20s as well. :)

What I thought was interesting about today is that the broad pattern of the days legs are similar to yesterdays legs. That's the kind of stuff I'm trying to capture in my approach to the market.

Yesterday's close was roughly 3 points below the open. So if the broad pattern of this day should turn out to mirror yesterday, we would be looking at a close around 85-87 or so. :)
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Yesterday was a "coil" pattern. So is today. But then we've completed the pattern in half the time as yesterday and we still have nearly 4 hours left to go. Anything can happen between now and then, wouldn't you agree. In that regard, time factor plays equal importance IMHO.

Anyway, where the hell is Vol these days? Last time I saw him was when he was hung over with his mojito in a laundromat somewhere south of the border. :D
 
Well, yes, I agree on the time factor. Consider this merely a superficial analysis. Today we opened gap down as well, so technically there are some other differences as well.

I have no idea about Vol, but now he's been quoted, so maybe he drops by to say hello. And what about ammo? He used to own this journal. :)
 
Laissez Faire said:
Well, yes, I agree on the time factor. Consider this merely a superficial analysis. Today we opened gap down as well, so technically there are some other differences as well.
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On the 5 min chart, the price punched below the coil. Suppose it sticks, the price target (going by the textbook definition), should be around....not surprisingly...65.
 
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