ES Journal Archive (2006 - 2008)

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This would be the ideal scenario for my next short in the 1544.50-1545 area. This market is extremely overbought so we may not get this... but if it does pull this off there will be a lot of extra value placed on the trade...
 

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Apex, is this short you have planned like that one you made a few weeks ago where after the 3rd wave up the market just swan-dives 10-15 points? If it hits that zone I'd get in that too, but I'll be trying a short if it can get to even just 1541 or 1542 again. This level is exactly where the lower trendline of the channel it was moving in prior to 6/7 is so it may serve as some resistance beyond just the double top.
 
Quote from kinggyppo:

Here is a chart of the june contract with monthly closings. You can draw your own conclusions. One thing that jumps out at me is that 1490.00 level, looks like nothing but air below that. Assuming the bull run is not over yet, anything at or around 1500 looks like a bargain. One of the posters a few weeks ago commented on the large ranges being carved out by the powers that be.

Wave, you never answered yesterday's trivia question?:(
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http://www.amazon.com/What-Learned-Losing-Million-Dollars/dp/0963579495
 
does anyone else see
... a top put in here for today ... with a tail ... at 1542 ? H&S as well ?

and a macd divergence on 15 min chart between yesterday high and today possible top ?

am i way ahead of myself here ? or way off track ?
...i guess we'll see soon....

thanks
RESPECT to all
 
Quote from elovemer:

does anyone else see
... a top put in here for today ... with a tail ... at 1542 ? H&S as well ?

and a macd divergence on 15 min chart between yesterday high and today possible top ?

am i way ahead of myself here ? or way off track ?
...i guess we'll see soon....

thanks
RESPECT to all
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1) Do you have a plan? Yes
2) Do you have the discipline to follow that plan? Yes
3) Then you will be as successful as your method of analysis permits.
 
Quote from apex82:

Local support zones.....

1535-1536

1532.50-1533.50 (key zone)
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we got a nice little 3 point bounce off the first zone. We just grazed the critical zone.. didnt make it down that extra tick and you see the buying come in a big big way. This a great example of a slingshot entry if that low is taken out. There is no way I am chasing it, especially during lunch. I may miss the trade but thats just how it goes... the market will be here tomorrow. I will wait for it to take out that low or at least retest it and then get on a reversal bar entry. Targets are 1544 and higher.
 
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