ES Journal Archive (2006 - 2008)

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My thinking is that it may be a good idea to use 10 pts as a profit target intraday. This would let me out of the 20 pt days, but then again maybe it wouldn't if we had a bounce and I reentered.
 
Quote from Buy1Sell2:

Stop has been moved to 1319.25 1pt over the last recent reaction/pivot high on 3 min.
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leaving stop as is with the reaction high that just occurred.
 
Another 2 consecutive WRBs on reversal, both tradable using 2 point stops. I think this pretty much proves the point of reliability of using small stops in relatively short time frames, when a high probaility system is used.
 

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Quote from romik:

Another 2 consecutive WRBs on reversal, both tradable using 2 point stops. I think this pretty much proves the point of reliability of using small stops in relatively short time frames, when a high probaility system is used.
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are you using a profit target along with the 2 pt stops?
 
Quote from Buy1Sell2:

are you using a profit target along with the 2 pt stops?
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PT is always 2 points, although depends what's happening in T&S at the time.
 
If anybody wants to hear a prediction from a guy having 3 beer at a break from mountainbiking at the countryside....
possible downreversal after lunch, lately ~1400-1430, thursday often good for afternoon reversal
Trin 2. day in extrem bull, Comp = -0.49%. market is not lead by techs, will not frontrun, wait for downtrend, may be congestion till end too..but low prob for further up
 
Quote from Buy1Sell2:

yes I think you are correct. Both the 3 and the 12 provided upside reversal signals at about 1314.50
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Yep, here is a reversal signal via Bullish Dark Hammer Pattern this time @ 11:18, oil futures are on a decline and we have a nice formation going on, choppy via trend lines and oil futures prices. I would stay in the trade now until EOD, should be good stuff after lunch.
 

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The daily pivots are great during chop zone times, as the price level approaches one of the levels, the acceleration of block trades in the T&S, partly due to automated limits, plays a huge part in further price advancement/decline, another solid scalping opportunity.
 
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