ES Journal Archive (2006 - 2008)

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I gotta tell you-- It would really be good if we could break 1300 today and close below it. Weekly chart damage would certainly raise the probability of the move down to 1270 to 1280 area that I have been mentioning. I am not certain it could happen. ES is trying now for the 4th tme today to carve a bottom and the more times it tries , it eventually succeeds in general.
 
Quote from tatsimon:

B1S2,

nice trade. What is your daytrading strategy now? Do you look for longs or are you looking for shorts?

thanks
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Trying to look for both, but hourly charts have not given me the longs yet when I have been available to look. Looking back on smaller time frames, there have been longs presented, but the issue for me is time constraints and time intensity on smaller frames. I most likely will quit the short term experiment at some point due to time. Today, I have time and it has been very helpful. The market was helpful of course as well. I think I am mostly playing reversals with an eye to ride a new trend. I add positions when I am wrong/stopped out. I start with one unit and work upwards.
 
I missed the reversal around 1310.75. Away from the screen. 1311.50 did indeed prove to be strong. Positionals are benefitting of course.
 
5th attempt here today now occurring at 1305-1306 to carve out a bottom. I believe that 1300 now may be tested today. Especially if this 5th attempt fails.
 
I expect a trendday today, TRIN is at very ugly 2, false Breakout over highs, shakeout-fakeout reversals for many days, there are no more many longs in the game...could even become a mediumterm short.
 
I'll probe for an upside reversal here at 1305.50 We'll need to breakthrough 1305.75 quickly and hold or
I will abandon. 1300 test looms large. 1302.25 stop
 
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