ES Journal Archive (2006 - 2008)
- Thread starter Buy1Sell2
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Honestly, I'd recommend trading a contract which will give you a lot more wiggle room than what we have with the ES, watch both charts, and just take the setups off the easier to trade contract.
Take a look at YM, see if you lik it, other wise, your PS is going to have to be based on LOGIC, like:
"If the 15 min bar closes below the 61.8% retracement (for Longs), close the trade".
But don't put your Protective Stops down there perse (it has to be out of the range), because a lot of traders know that's an area traders are looking to get in on the retracement, and try to test the lows.
Yeah, I know, it's a tricky game, but that's how it is with MONEY.
Good trading,
JJ
Volume is low to moderate with very light buying still.
Usually after these runups we've had seversal days of consolidation.
But ultimately, what goes up, must come down.
JJ
edit: that means i'm not looking for anymore longs today. Hey, according z32000, I guess that makes me NEUTRAL
Usually after these runups we've had seversal days of consolidation.
But ultimately, what goes up, must come down.
JJ
edit: that means i'm not looking for anymore longs today. Hey, according z32000, I guess that makes me NEUTRAL
I may not win that. When I said support at 44, to my trading style, that's where I figured the turn around would be to capture the 2.5 points I was looking for.
I erred though and got in too early. I should have remained cognizant of the tendency for the larger pullbacks come in two waves.
Quote from osorico:
Aw geez... capitulation and 'm not even wearing mirror sunglasses
Hey RIAA, are/were you in the recording industry?
I haven't lost yet have I? Obviously the better base is at 42. We'll know in less than 2 hours.
Nope, never in the recording industry, although some say I play a mean Les Paul.
Quote from riaamaan:
I haven't lost yet have I? Obviously the better base is at 42. We'll know in less than 2 hours.
Nope, never in the recording industry, although some say I play a mean Les Paul.
Nope. Not till eod RTH, 4:00om EST
Until then, we should jam, (not to be confused with the market action at this moment :eek: )... I play a mean Fender Jazz Bass
And just in case anyone wonders why I asked about the recording industry...
http://www.riaa.com/about/default.asp
Quote from osorico:
You (riaamaan) win. I (osorico) lose. And we both made money!
44 proved to too strong for now. But you have to admit, you were quakin for at least a minute! :eek:
Don't count on 44 holding in the AM, imo.
Thanks for playing,
Osorico
No way. I only thought 44 was the support in the moment. 42 is a much stronger level IMHO.
And now, I can go change my shorts...all that quakin' upset my system.
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