ES Journal Archive (2006 - 2008)

[kinggyppo]

Quote from tommymoose:

Nice, I also considered the first 2 items you listed. I still have no idea what R1 and S1 etc. mean though... on the list of things to study...

also check the internal retracements of the move up off the ~1255 and ~1287 lows, the measured moves from the 2 waves down since Tuesday and the trendline underneath.

http://www.investopedia.com/articles/technical/04/041404.asp

pivot on esm is $1340.42 on ts.

 

[RsX]

They might take out those stops clustered at the 1441-1442 before attempting for the next leg up. Re-test of globex pivot at 1340 or lower levels would mean excess weakness for me and for that reason I'm maintaining my stop there for now. 15/30min shows warning signs.

I plan to raise my stop if we touch 1346.00 again. Also thinking to return to those 12-15pts targets - they seem to work better more often (in this market environment), for me. Right now I'd be giving back about 50% profits if stopped out, which is more or less my mental threshold. Well.. gotta experiment a bit.

EDIT raising stop to +10.00pts

EDIT stopped out for +10.00pts

EDIT - satisfied with the result.. would've also taken out my previous stop.

 

[kinggyppo]

spy reversion to the mean.

 

[fluttrader]

What is your mean ?

 

[maxni]

Thanks, RsX.

A decent way to bring about a self-fulfilling prophecy.

Quote from RsX:

The more traders acting together at psychological and/or well known technical price zones the higher the probabilities when you have market psychology as your edge.

 

[JSSPMK]

Quote from JSSPMK:

Watch out for a failure swing on lowered histo

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1856843>

 

[Syprik]

Who's going to brave it and long a bounce here?

 

[trackstar]

I went long

 

[trackstar]

sold 3/4, last 1/4 stopped out, and now I am short again. Might get stopped out of this also.

 

[saliva]

Can anyone explain why there's such a large spread between the futures and the cash index?

S&P cash: -2
ES: +5