ES Journal Archive (2006 - 2008)

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Quote from JSSPMK:

If there is a 3rd failure swing + triple D on 2 I will reverse

Jumping Ahead of time Reversed short now 1357 off 1 as trigger

Feels like it ought to decline nicely

Scaled out +2.75

TY Tom (read your post below :))

It would help if sellers were to act upon 120 which is still pretty bearish

Tom, I will answer here not to waste journal's space:

10-15 could easily be negated here, whether it will or won't happen I hold no clues :)

I had a look on Oscar's analyses concerning 3 day weekend trading and he seems to think that we will have am upside as volume gets low + charts point to a BO as he sees them. ImO I don't see this happening especially in DOW transport as Crude keeps charging ahead towards 100

Crucial moment here as we are at lower TL of pennant
More...

Not covering 1/3 here, if we break pennant's TL reward could be larger than it currently stands, going with 120, if profit evaporates so be it

Stopped b/e on 1/3
 
I took today off.Just looking at the action right now.Im surprised we are down this much.

I really thought today would be meaningless.

I think this sets up for a reversal to the upside tomorrow.I would be a strong buyer right now for tomorrow.
 
Quote from RsX:

Better cover some of your shorts here at 1347-1349 for today... might get a fast and brutal bounce from this area. The expected 20+pts decline from 1370 area has taken place now and a sharp V-move could come easily from this area. Also the globex pivot S1 here at 1348...
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10+pts sharp V-move off of those lows right at 1348, making it the bottom for today. So roughly around 20pts down from the 1370 area, as expected.. As for what's likely next, I have no clue right now, but I am considering 1358.50-1361.50 an crucial zone here, from where it's more likely to hit another 15-20pts down, back to the 1340-1343 area. That's just a quick view to the chart.. needs some deeper research, but I'm leaving the charts alone for now. Feels good that I nailed this move in theory long in advance, but on the otherhand there's the frustration of missing that move thanks to those stop-outs.. There's always gonna be another day. Gonna rest and clear my head a bit now.
 
I think it's not a bad idea to short a break of pennant considering its range and time in range.

Made a mistake to cover at b/e, didn't pay attention to pennant's pivotal, price bounced right off it, silly mistake
 
JSSPMK - first, thanks much for the posting the setups, i think i see now a little of how you gauge an entry based on macd histogram. may i ask you -
- why timebased vs tick/ volume / range charts?
- do you wait for a confirm bar? or try and pick a top/bottom?
- it seems lately, you've done very well w/ your method, is it just me?

again, thank you for posting here.


:)
 
Quote from BigBubba:

JSSPMK - first, thanks much for the posting the setups, i think i see now a little of how you gauge an entry based on macd histogram. may i ask you -
- why timebased vs tick/ volume / range charts?
- do you wait for a confirm bar? or try and pick a top/bottom?
- it seems lately, you've done very well w/ your method, is it just me?

again, thank you for posting here.


:)
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TY BB!

1. People say that time based charts are a thing of the past, ImE that is not so, it's simply a matter of ability, it's not a matter of preference either, I just made a choice & stick with it, seems to work :)

2. First of all I will use this - :). I smiled when I read your 2nd Q, don't know exactly why... I believe in discretion as price action though repetitive is also unique, even Volente's rule of 10 is never exact though close to. So my answer would be it depends, depends on how market is behaving at the time, sometimes I wait for a confirm, sometimes I won't & will act upon a gut feeling just like any experienced professional would. At times instinct is required, especially when it concerns anticipating the next move/event. I am more of an anticipator, rather than a reactor, hence I don't like BO/BD trading, unless longer term charts are calling for a break of a substantial level;

3. No, it's not just you. Indeed I am doing much better than I used to, partially due to implementing scale out strategy and I suppose partially down to belief in myself. I told my girlfriend that I had a moment some time ago similar to what Neo (Matrix) has experienced near the end of the 1st Matrix, when agent Smith keeps plugging bullets at him & Neo looks at him & says - No more :)

I still make mistakes & sometimes think I am a total dumbass :)
 
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