ES Journal Archive (2006 - 2008)

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Quote from Buy1Sell2:

Market complying today--still looking for intial target of 1285
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Are you taking you PT from 100MA possible resistance on daily, which is pretty close to the higher Bollinger band and which also happens to coincide with chart resistance levels?
 
Quote from romik:

Are you taking you PT from 100MA possible resistance on daily, which is pretty close to the higher Bollinger band and which also happens to coincide with chart resistance levels?
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Don't know about 100 MA but yes to the other two.
 
It would be nice for S&P to push 2% today towards the close, this is the sort of day when taking a BLD on a pullback provides high odds of success IMO.
 
No trades ES yet for me. Until we break this 25-30 point channel, I dont trust any of these moves. Im in short anywhere @ 1280 or above. If they can stay above the 20/50/200 day today there maybe more follow thru tommorrow. For the moment I will keep trading crude oil and gold because of the strong trends.
 
Quote from romik:

It would be nice for S&P to push 2% today towards the close, this is the sort of day when taking a BLD on a pullback provides high odds of success IMO.
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5 min anyone?
 
Very nice day today! As of the moment, there is no reason to reverse and go short so I'll be holding here. Interesting that 1269.00 was overhead resistance again today, but let's be honest, the move to 1269.00 was very large and I imagine that folks didn't want to be the only one at 1269.25. I believe that 1269.00 will be broken Tuesday or Wednesday and will then become strong support. I now believe that there will be a test of 1300 soon.
 
Quote from Buy1Sell2:

Very nice day today! As of the moment, there is no reason to reverse and go short so I'll be holding here. Interesting that 1269.00 was overhead resistance again today, but let's be honest, the move to 1269.00 was very large and I imagine that folks didn't want to be the only one at 1269.25. I believe that 1269.00 will be broken Tuesday or Wednesday and will then become strong support. I now believe that there will be a test of 1300 soon.
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Your analyses are confirmed by my WRB S/R breakout system, which failed on the first approach and now there will be the second and in practise I rarely had more than 3 failure breakouts of such WRBs, so I agree that 1269 is not much of problem now. But I don't think I would hold on to this position in the hope of 1300 retest, I will be closing once it goes into 1275-80. I am not that experienced in this yet to see 1300 re-test. Why do you suggest that? Thanks.
 
Quote from romik:

Your analyses are confirmed by my WRB S/R breakout system, which failed on the first approach and now there will be the second and in practise I rarely had more than 3 failure breakouts of such WRBs, so I agree that 1269 is not much of problem now. But I don't think I would hold on to this position in the hope of 1300 retest, I will be closing once it goes into 1275-80. I am not that experienced in this yet to see 1300 re-test. Why do you suggest that? Thanks.
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We have a higher RSI Trough on daily here with a close above the 20 MA. More often than not, this means a touch of the upper Bollinger and perhaps a push through the upper BB.
 
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