ES Journal Archive (2006 - 2008)

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So who thought we'd hit below 1260 today? Of course. :D :mad:

Well, then, who thinks this sucker rally is a bull-trap engineered to suck dumb money in order to push it right back down? Don't kill me if I'm wrong but I think we'll gap down tomorrow.
 
Quote from gwac:

ES wants an excuse to go up......1 of 2 things needs to happen
this afternoon. Oil need to close lower at the 2:30 close or/and
nq needs to rally. Either one we head above 1280....

Both happen and we could have a very strong close.....
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I agree that it is looking for an excuse to go up right now. JSS the histo you follow may give you enough juice to make money off of but like ALL TA it works unless it doesn't. There are some macro issues...like the DNC next week that could give a "feel good" rah rah...things will get better..tone to the market. Oil spiking on bogus fears of russia us relations is just that.. bogus. IV is very low right now but low IV can go lower as it did in May and markets go higher. The fact that on both days the spx rallied into the close (in spite of negative news) is bullish imo.
 
Quote from RichardRimes:

I agree that it is looking for an excuse to go up right now. JSS the histo you follow may give you enough juice to make money off of but like ALL TA it works unless it doesn't.

Ultimate goal is to extend targets, so when it does work reward offsets losses multiple x, I am still a piker in trading

Oil spiking on bogus fears of russia us relations is just that.. bogus.

Explanatory news have a tendency to arrive after build up is seen in something as simple as histo, ImPO first there is distribution or accumulation which is often seen via an indicator pattern & price, then followed by news, then followed by volume. Bogus or not, how would you know for a fact? As long as potential target is multiple x risk, then reasons don't matter, do they?
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Quote from JSSPMK:

The following is an observation of the 240m chart, considering daily's failure upside swing, I see 3 lowered histo peaks & what is important to me is the tiny 4th one, just 1 histo bar over the centreline and back below the centreline. My previous observations suggest that this is the beginning of another leg down, considering overall bearish market sentiment over larger time frames. I don't have a clue why Buy1Sell2 is so bullish at the moment, I asked him out of respect to his experiences, but there hasn't been an answer yet, but I remain optimistic that maybe he would grant me an answer :) I understand why he might be bullish, but calling daily trend significantly bullish purely because one of support levels hasn't been broken I am confused about.
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Weekly trend remains up and the daily has not diverged or broken reaction lows yet. This the full extent of my short term bullish analysis.
 
08-20-08 09:52 AM

08-20-08 08:53 AM

I will enter long @ 1272.00 20 contracts
Stopped in ---Initial sell stop 1251.25
Sell stop raised to 1270.25
 
By the end of next week we will close the gap at 1320....

2 days ago was the swing long entry when the Williams hit -100 on the daily chart.
 
Quote from Buy1Sell2:

Out of courtesy, please do not post the large pictures that make it difficult to read the journal. Thank you in advance.
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I just stuck that guy on ignore.

never seen him post anything of significance, then he has the nerve to clutter up this thread.
 
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