ES Journal Archive (2006 - 2008)

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The system signalled a short at the end of the 8.42 bar at 1295.75
2nd RSI peak lower than previous and also inside the OB line--bearih divergence as well.
 
Quote from mechtrader41:


My logic says no breakouttrades today, higher prob of range, but I´m still mediumterm bearish, a lot of traders can see this on a daily chart as nice pullback in an uptrend, so expect more buyers coming in, VIX suggest still low fear level and did not climb yesterday, no worries about yesterdays selloff ( i would call it selloff...), that`s a good bottom for further decline soon, but a new low today should attract more buyers in the shortterm, so expect some reasonable bounce from weakness, just my 2 cents...


wish a good day [/B]
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ES, YM Weekly chart is down also;
still looks like , as you mentioned mechTrader,
a nice pullback ,more than a nice uptrend.

XLE [oil gas sector] looks like a nice uptrend by most any measure;
not a prediction.
:cool:
 
Quote from mechtrader41:

B1S2, are you trading globex/premarket?
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yes--the new system I am working on just at the moment is paper trade. I'll be back to real money soon. Of course I am still short in the positional account with real funds.
 
B1S2,
brave man, but be prepared for a possible leg up, by conventional charttechnic many see a buy signal and a lot think, heee the last 2 times before, a break under MA 50 was a nice buy so why not yet too..

indeed a nice upwards channel, CAN go up to ~ 1300 index or ~1310 ES for a few days before the next leg down , hope not we are all wrong with our shortbias :-) for my optionposition...
 

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today the 12 and the 60 are not agreeing. The 60 has a clear buy signal at 5.30 AM bar (6.30) at 1294.00 that has not been negated yet.
 
Quote from mechtrader41:

B1S2,
brave man,
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How can it be brave when I am testing on paper? Bulls have to make attempts at 1300 as I noted several times previously--this is very expected.
 
RSI on the 12 minute chart has just completed a first peak. we don't take a short until we see the second peak equal or lower than the first. The earlier short calls would have been stopped out with a 2 point stop but would still be live with a 5 pt stop.
 
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