ES Journal Archive (2006 - 2008)

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LOL, well I am using a different approach but nice to see we might be seeing the same thing lol...

THings are pointing up but we are still hovering around 16.25/16.50. I think it wil pretty much stay flat the next few minutes until the open....

First level of resistance I see is 17.50 which is yesterday's close. Might get out there unless we move up strong at the opening. Otherwise I am still thinking of keeping a tight stop since a point or so down and we may head towards 1314 and lower. Just waiting and watching for now..
 
Quote from optioncoach:

LOL, well I am using a different approach but nice to see we might be seeing the same thing lol...

THings are pointing up but we are still hovering around 16.25/16.50. I think it wil pretty much stay flat the next few minutes until the open....

First level of resistance I see is 17.50 which is yesterday's close. Might get out there unless we move up strong at the opening. Otherwise I am still thinking of keeping a tight stop since a point or so down and we may head towards 1314 and lower. Just waiting and watching for now..
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Right now I am using the hourly charts instead of my shorter term charts--still experimenting etc. --I go back and forth. Hourly still looks down to me--at least right now anyway. I wouldn't rule out a bounce again before downward pressure.
 
I think that the way the hourly bar looks like right now. That is to say if it finished at 10:30 the way it is now--Romik would call that a WRB . Is that right Romik?
 
Quote from Buy1Sell2:

I think that the way the hourly bar looks like right now. That is to say if it finished at 10:30 the way it is now--Romik would call that a WRB . Is that right Romik?
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Yes, it is a WRB, but I look for shadows to be much shorter in size in relation to the body, that would establish lack of demand more supply. The way it looks now i wouldn't trade it.
 
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