ES Journal Archive (2006 - 2008)

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Bias will be bearish if and until 1513 is taken out.


R1 1512.50-1513.50

R2 1515.50-1516.50

R2 1522-5123.50

Only labeling major support levels

1486.50-1489

1471.50-1474

I suggest putting those on your chart.

Here is the chart..
 

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Quick update on my long position. Long 22 units from average of roughly 1436. I am also long 4 units NQ from 1819 , but this was not posted in realtime, so disregard the veracity of that claim. :)
 
apex - a question?
per your work....... once a support or resistance zone has been fully penetrated and then later the same day or the next day prices reverse back through, do you again consider the same support or resistance zones valid?
 
Quote from tr51:

apex - a question?
per your work....... once a support or resistance zone has been fully penetrated and then later the same day or the next day prices reverse back through, do you again consider the same support or resistance zones valid?
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It depends on other factors... but most of the time yes. You will find that the market will sometimes pop above or below by a point only to immediately reverse due to stops being run. Then the the retest of the zone will hold perfectly, which then creates a H&S type looking pattern before the fact. This goes hand in hand with role revesal(support then becomes resistance). If a zone has a confirmed breakout above or below the zone then the next time it tests it will most likely serve as support or resistance.
 
For those interested...
If you prefer I not post this info, just say so.

YM upside targets
13468
13493
13506

YM downside targets
13436
13390
13363
13345
13283

Remember, upside target numbers are not fully trustworthy due to YM being in uncharted lands. Upside numbers are basis 1 trading session.

Good trading to all
Osorico :)
 
Quote from apex82:

Bias will be bearish if and until 1513 is taken out.


R1 1512.50-1513.50

R2 1515.50-1516.50

R2 1522-5123.50

Only labeling major support levels

1486.50-1489

1471.50-1474

I suggest putting those on your chart.

Here is the chart..
More...

nice work Apex.....as well as yesterdays 05 buy........i`m looking for an inside day today or tight range inside yesterdays hi/lo.....hope i`m wrong because volitility is oxygen to me.

if it works out & only if ( inside day) i`d look for tomorrows action to break todays lo to sell hard down to 80`s.
increased vol on the hi`s as well as an IVB on the 30 min chart could be lo risk sell on a position basis with stop above 19.75.

inside/outside days with nice vol on hi`s have been reliable to short term tops......i was stopped yesterday at 19.50 on position acct but reentered 18.75 for the reverse south bound i anticipated due to price action & IVB followed by an OVB on the hi.(30 min chart)
 
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