ES Journal Archive (2006 - 2008)

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will be making a wheat video if I have time tonight... what an amazing move... I planned to make it this weekend but never got around to it. The confluence on this trade is the best I have seen in a long time. I am still half short however looking to hedge it off by buying this dip at 1036-1020 for a bounce to retest the highs.

There is nothing better then PA like that confirming a zone..

Todays move was $5200 or so per contract

To put in perspective.. that is over a 100 pt move in the es per contract in a day..

When the index's arent providing high probability oppurtunities its good to look elsewhere
 
storm, i told u to count forward 10 days from 2/4 maybe 2/3 when firms went short, thats when this thing will rally,not b4,do your homework
 
I have to agree about storm....

You have to love someone who only plays one side of the market... when it moves in his direction a little there right in a big way.. when it moves against them whether its 2 weeks or 140pts there still right the day it rallies back... reminds me of stocktradr

Saying the market is going to rally the next day after 6 consecutive down days and has put in a couple of inside days is BS..... of course it has a good chance of rallying..

The difference is how you are going to play it.. what are you looking at for entries, when do you take profits.. how are you going to know when your wrong and exit for a loss. Opinions alone are useless... Trading is about having an opinion and executing it in the market. I can forecast every market turn with a 200 pt stop and a 1 month window... can I make money trading like this.. possibly.. but havent figured out how yet.
 
Leaving an MIT buy order resting at 1331.00 with stop at 1327.75. ES currently found support at pivot+yesterday's high/low 38.2% retracement and might take straight off from here, but for a more solid setup for my style I would like it to get down to 1330.50-1332.50 and test the 50% instead (two of those 50% retracements in the abovementioned area, actually).

There's an interesting juncture for 11:30am (2hrs after RTH open) at the crossing of the broken symmetrical triangle's trendlines and the 50% fibs.. area is 1330.00-1331.50. Trying to post a visual as well.
 
APEX - great video, thank you.

Your little bits of hints dropped here and there have been monumental help to my own trading (with due diligence of course).

Take care.
 
Beautiful analysis, apex82 - and the video quality is much better, everything is clearly visible.

Canceling my MIT buy @ 1331.00. Much stronger bounce from the 38.2%+pivot support (~10pts). If we fall back to 1331 area from here, I'd wait for solid confirmation before thinking of longs in that area. It's more probable to test and possibly break above 1350 after RTH open..


EDIT: If 1350 should be broken today.. I have key zones at 1355.00-1358.50 and after that 1366-1370 area. It's due for a trend day today/tomorrow and after breaking 1350, they're probably going to take it up to 1370 before more serious selling comes in. Expecting for a healthy 20+pts correction from there, not a reversal, mind you.

The 1355-1358.50 is still a heavy decision point before that, however.

Until break of 1350, I'd still be a buyer around 1330 on confirmed reversal signals.
 
Quote from JSSPMK:

WTG! I was considering a reverse trade off 1 min chart, decided to stay with 120m chart's potential.

I will try & stay Long AH on this one, stop moved to 1334 or rather remains at 1334 on 1/3 position.
More...

It was the right decision to extend stop on 1/3, 1,2,3,5 min charts were diverging, price seems to be reacting nicely to 120m bullish pattern. Will try and hold position now till an obvious reversal on 60/120.
 
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