ES Journal Archive (2006 - 2008)
- Thread starter Buy1Sell2
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1451.50 was the previous low on the 60 minute bar preceding this one.. so it creates a sell signal if it violates this low.
if it doesn't violate this low, then we test the highs on that bar close to 70.
if it doesn't violate this low, then we test the highs on that bar close to 70.
Spectre2007, please clarify the following for everyone.
You are using mulitple time frames in your analysis - not just the 60 minute bars. Weekly to monthly charts (or higher) for moving average crossover trend following to position trade, and dropping down to 60 minute chart for intraday trading.
You are not saying the 60 minute timeframe is dictating the bottom for your MA crossover trend following, are you?
spectre,
The euphoria and financial gains of that great bull market were shattered on October 24, 1929, Black Thursday, when share prices on the NYSE collapsed. Stock prices fell on that day and they continued to fall, at an unprecedented rate, for a full month.
In days leading up to Black Thursday the market was unstable. Periods of panic selling and high volumes of trading were interspersed with brief periods of rising prices and recovery. After the crash the Dow Jones Industrial Average (DJIA) recovered early in 1930, only to reverse again, reaching a low point of the great bear market in 1932. The market did not return to pre-1929 levels until late 1954,[2] and was lower at its July 8, 1932 level than it had been since the 1800s.[3]
The euphoria and financial gains of that great bull market were shattered on October 24, 1929, Black Thursday, when share prices on the NYSE collapsed. Stock prices fell on that day and they continued to fall, at an unprecedented rate, for a full month.
In days leading up to Black Thursday the market was unstable. Periods of panic selling and high volumes of trading were interspersed with brief periods of rising prices and recovery. After the crash the Dow Jones Industrial Average (DJIA) recovered early in 1930, only to reverse again, reaching a low point of the great bear market in 1932. The market did not return to pre-1929 levels until late 1954,[2] and was lower at its July 8, 1932 level than it had been since the 1800s.[3]
violation of the low of the previous 60 minute bar.. confirms the trend.. now looking for reentries..
60 minute bars have a higher probability implications.
the smaller tic or 240tic charts, the bar size on the open stayed confined, and there was less noise, the bar size combined with direction was just a straight line moving directionally, and testing levels. As lunch time approaches, you tend to have more noise or the bar sizes don't stay confined and you tend to have stop losses hitting more often.
the last 2 hours the bar sizes get reduced similar to the open. And prices just keep moving in straight lines directionally.
thanx chuck for the recap..of 1929. sorry working with a cold here. runny nose...headache.
the real muscle will come in the fall, when decisions have to be made on what the next year will look like.
I'm going to be accumulating around 1440 and use geometric dollar cost averaging for long term holdings.
the smaller tic or 240tic charts, the bar size on the open stayed confined, and there was less noise, the bar size combined with direction was just a straight line moving directionally, and testing levels. As lunch time approaches, you tend to have more noise or the bar sizes don't stay confined and you tend to have stop losses hitting more often.
the last 2 hours the bar sizes get reduced similar to the open. And prices just keep moving in straight lines directionally.
thanx chuck for the recap..of 1929. sorry working with a cold here. runny nose...headache.
the real muscle will come in the fall, when decisions have to be made on what the next year will look like.
I'm going to be accumulating around 1440 and use geometric dollar cost averaging for long term holdings.
further sell confirmation with this break below 1450.00
this trading reminds me of last may downturn, the lingering war footage really decimated the psyche for a few months. As the war footage dies down, the market found a bottom.
similar the subprime has really no transparency. So fear is running wild, this atmosphere similar to last May will dissipate with time.
this trading reminds me of last may downturn, the lingering war footage really decimated the psyche for a few months. As the war footage dies down, the market found a bottom.
similar the subprime has really no transparency. So fear is running wild, this atmosphere similar to last May will dissipate with time.
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