ES Journal Archive (2006 - 2008)

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..... sorry about confusion.....
.... the 1-5 of the ending diagonal represents the 5th wave after the 1-4
Quote from elovemer:
.... this goes out to all my dead homies....
.... who were killed by trend change....
.... spx possible wave count.....
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SR levels for tomorrow. Looking for weakness to head down and test 1494-1496 level and hold into the fomc. A blast up to 1524-1527 and then a retreat for a week or so. Just what im anticipating.. always trade what the market gives ya. Here are the major sr levels I am watching.. looking for long triggers if we get to the 1496 area.
 

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Quote from mbusch:



The MACD histogram is a useful tool, but I do not believe it can be used in isolation.
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That's all I use on short term charts. Win ratio could be improved, but so could quite a few things in life theoretically :)

TY for a response!
 
Mbusch, here is today's action in FDAX on 2 minute chart, exactly what I was going on about, a clear buy signal in histogram (just as on weekly charts). I know you expressed you views on how you see weekly p/a, this chart is just as an example of how I tackle histogram based entries on short term charts, I really do not use anything else apart from risk management & probability analyses. One indicator.

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1708544>
 

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Closer to a DT when I squint, but whatever it is, it's probably worth shorting. :)

EDIT: Putting money where mouth is...

Short from 1512.75.
 
Quote from vertigo3:

wouldn't you expect some buyers to at least make a temporary stand at fill of gap (Friday RTH close was 1507.25)
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Quite possibly. I would expect support in the 1507-1509 area, and if we get there I will probably take half off and let the other half run (watchfully).

Still fighting support at 1510.75. Unless we can penetrate that, everything else is moot.

EDIT: Hopefully 1510.75 is now resistance and we go lower from here...hopefully.

EDIT: Taking half off here at 1509.00 for +3.75, letting other half ride. Stop moved to BE.
 
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