ES Journal Archive (2006 - 2008)

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Quote from steve46:

Excuse me. You quote yourself saying you're out at 1502.25

"covering last remaining unit on the shortside"



Now you are "closing" again at 1499.50??

What exactly are you closing?

What does "last remaining unit" mean?

:)
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My post stated it was a buy stop to get out of the trade. The market never traded to my buy stop therefore I was still short. I trailed it down and was exited at 1499.50

I trade units to maximize profits ie 1 unit = 25-50 contracts
 
Quote from apex82:

Thanks for the comments guys.... I have been patiently waiting to get short for awhile now.

Reshorting 1506.75 on a bounce 1.5 stop

target is 1502.50 and then new lows.

reducing size due to the gift the markets gave me today
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canceling short at 1506.75... was being conservative
 
Quote from osorico:

Thanks Apex.

Seems we have a few similar analysis tools. :cool:

Osorico :)
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ya all zones are within 10pts or from one another, pretty amazing. I am constructing off a 15 min chart so I could be a few points off here and there.
 
Your support zone seems pretty accurate... Up about 50 pts on YM since that post... You have probably made some peoples annual salary today :D
 
Quote from apex82:

Did you get any of this? A nice pop after dropping right into our level.
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That's what my significant zones are for. :D They form the basis for my scalping. Once the direction is confirmed, just take trades in the direction till the zone (or very close to it). Then expect a playable bounce. After that, sit on hands until either retest of low (which we got) or confirmed continuation of bounce. I've been taking YM longs only since 13272. Likely thru eod. LOD has hi probability of being in.

EDIT: FWIW; there is big air between here and upside YM zones right now. The closest most significant upside YM zone I have is 13364. Minor at 13345. Looks like fibs will come into play in the big air.
 
Quote from osorico:

That's what my significant zones are for. :D They form the basis for my scalping. Once the direction is confirmed, just take trades in the direction till the zone (or very close to it). Then expect a playable bounce. After that, sit on hands until either retest of low (which we got) or confirmed continuation of bounce. I've been taking YM longs only since 13272. Likely thru eod. LOD has hi probability of being in.
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Yep I agree, we are at the key price for es right at 1504.25 if it holds we most likely get a retest of the LOD. A breakout above most likely grind higher throughought the day up to 1508.75

I use a very similar strategy with my scalping as well around higher level SR.
 
FWIW; I've just gone flat. Either way too early, in which case I'll get back in, or a break below 13280 can take this puppy back down fairly fast. Talking YM of course.
 
Here we go.. .it held resistance as expected and this is the key test right here at 1500.. . great place for a reversal buy if it holds. Dont just buy blindly into this.
 
Quote from apex82:

Here we go.. .it held resistance as expected and this is the key test right here at 1500.. . great place for a reversal buy if it holds. Dont just buy blindly into this.
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buying 1501.25 on a stop stop below pivot if filled. 1500 must hold for this to be active
 
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