ES Journal Archive (2006 - 2008)

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Quote from 2006:

Not sure if your being sarcastic or not -- but just in case

AUM = Assets Under Management
ATR5 = Average True Range (5-Day)
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No. Was a legit question.

I figured the atr5 was as written, but the "1.5 atr5" threw me. I suppose it's "1.5 x atr5".
AUM I really didn't know.

Thanks,
Osorico
 
Quote from apex82:

We have entered into the higher level support zone for the ES. It runs from 1519.50-1533... quite large but it is a zone with odds to catapult this market up up to 1598. I got caught on a long into the close and was forced to choke up a point and a half. I like to take these zones and narrow down the best entries within them with the least risk. With that said 1519.50-1521.50 will be the next entry area i will be looking at. The contigency is if the market is able to move above 1537 then I will most likely look to get long on a retest.

I see the market moving higher to test 1536-1536.50, find resistance, roll over and start its last panic dive right into the sweet spot buy zone. This is just the best case scenario. I am ready to scratch a trade at the drop of a hat if the market is not conforming to levels. If 1517 is broken to the downside...... look out. With that said, there is no way I would be chasing the short side here.. you missed the move when you had a chance to short 25 pts higher. Be patient and pounce like a lion whos been waiting in the bushes for a week when the oppurtunity presents itself.

Minor R 1532.50-1533

R1 1536-1536.50

R2 1541

S1 1519.50-1521.50

Here is a visualization of the past 2 swing trade entries and the current zones.
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http://elitetrader.com/vb/attachment.php?s=&postid=1507032

Market went down staight into the zone.. a point below and then exploded to the upside. It hit first resistance and dropped 10 pts and then continued to grind higher.... nice trading today
 

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In Globex, ES descended from 1536 starting just after midnight EDT. I attempted to get short at 1535.50 but failed to get filled.

At 04:30 EDT, ES descended to weak support zone at 1529 (same as yesterday's 3pm low) and reversed. 15-min RSI reached 23.75, quite overbought. Next bar on 15-min chart provided convincing reversal confirmation.

Attempted to get long at 1528.75 with two-tick stop but just missed getting filled by one tick. (1529.00 would have filled, damn!) Not wanting to miss the boat twice in a row, I went long at market at 1529.50. I still have a buy limit order at 1528.75 for an add-on if that price is retested (which now looks doubtful), with 3-tick stop at 1528.00.

Profit target 1 is 1532.75 (+3.25 from 1529.50 entry)

Profit target 2 is at 1535.50 (+6 from 1529.50 entry)

Profit target 3 is at 1541.50 (+12 from 1529.50 entry)

1529 resistance zone was weak so this trade could go bad, but I think it's worth the 1.5-point risk (which would have been less had my limit order filled).

(As I hit the submit button at 0500 EDT, last paint 1530.25.)
 
Quote from mbusch:

In Globex, ES descended from 1536 starting just after midnight EDT. I attempted to get short at 1535.50 but failed to get filled.

At 04:30 EDT, ES descended to weak support zone at 1529 (same as yesterday's 3pm low) and reversed. 15-min RSI reached 23.75, quite overbought. Next bar on 15-min chart provided convincing reversal confirmation.

Attempted to get long at 1528.75 with two-tick stop but just missed getting filled by one tick. (1529.00 would have filled, damn!) Not wanting to miss the boat twice in a row, I went long at market at 1529.50. I still have a buy limit order at 1528.75 for an add-on if that price is retested (which now looks doubtful), with 3-tick stop at 1528.00.

Profit target 1 is 1532.75 (+3.25 from 1529.50 entry)

Profit target 2 is at 1535.50 (+6 from 1529.50 entry)

Profit target 3 is at 1541.50 (+12 from 1529.50 entry)

1529 resistance zone was weak so this trade could go bad, but I think it's worth the 1.5-point risk (which would have been less had my limit order filled).

(As I hit the submit button at 0500 EDT, last paint 1530.25.)
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Stopped out for -1.5 by some weird big-size (for Globex) selling at 0555 EDT. Something fishy going on -- some big blocks traded BELOW the bid price, causing a big spike down and taking out my (tight) stop.

May re-enter long after I watch this for awhile.

What in hell does it mean when multiple blocks paint at below bid price? :confused:

EDIT: On further reflection, I don't think I'll re-enter. The 1529 support zone was weak to begin with, and is now violated so I should probably consider it negated. I don't like what happened at 0555 EDT--it somehow smacks of manipulation (and it only takes 1000 contracts or so to maniuplate the ES market during Globex hours). I think I'll sit tight and wait until we either get down to strong support at 1520-22, or get up to resistance at 1535-37.

Hell, I should be asleep anyway. :cool:
 
Quote from mbusch:

Stopped out for -1.5 by some weird big-size (for Globex) selling at 0555 EDT. Something fishy going on -- some big blocks traded BELOW the bid price, causing a big spike down and taking out my (tight) stop.

May re-enter long after I watch this for awhile.

What in hell does it mean when multiple blocks paint at below bid price?
More...

If you trade out of RTH then you have to pay attention to world indices. So far DAX futures down over 1%.
 
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