ES Journal Archive (2006 - 2008)
- Thread starter Buy1Sell2
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nice Im still on the sidelines, havent seen any good setups yet. If we break below the lows again there is going to be hell to pay and expect a trend day to the downside. If the lows hold expect a move higher. You have to go with the odds to the upside due to all higher degree trends impulsing up.
Support coming in at 88.25 to 89.50. Waiting.
Any sort of emotional conviction, being right, great call etc. is all ego play. This is not what this business is about. I've been there, done that, a big yuk. This business is about defense. "It's not you that wins, it's the system". The big boys determine and control where support and resistance will be not us. They have much deeper pockets than us and will stop the levy from breaking when they want and when it does break just go with the water flow. Learn to see the footprints they leave and you will be on the proper side most of the time, no thinking, no emotion. Just flow with it.
Watch the DOM and see how certain prices just get eaten up by the market like king kong's foot squashing every order trying to break thru that resistance price and Hercules holding up every price that tries to break thru support. Amazing stuff. And you have no idea which way it will break, just make sure you are positioned to be there whichever way the levy breaks. Almost like a bookie who takes both sides and always comes out the winner.
Watch the DOM and see how certain prices just get eaten up by the market like king kong's foot squashing every order trying to break thru that resistance price and Hercules holding up every price that tries to break thru support. Amazing stuff. And you have no idea which way it will break, just make sure you are positioned to be there whichever way the levy breaks. Almost like a bookie who takes both sides and always comes out the winner.
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