Had business to take care of today. I faded the gap up open as per usual. I enjoy that one too much I think! Had to leave so I put sell order in @ the 200 day moving average with a 4 point target fill. In my second account I put a buy order 3 points below the open with a 2 point target fill. 3 trades 3 winners but I only was there for the opening. And Yes i have gone long in my second account the last 2 sessions with this pick up in volume and volatility. Have a good weekend guys.
ES Journal Archive (2006 - 2008)
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Had business to take care of today. I faded the gap up open as per usual. I enjoy that one too much I think! Had to leave so I put sell order in @ the 200 day moving average with a 4 point target fill. In my second account I put a buy order 3 points below the open with a 2 point target fill. 3 trades 3 winners but I only was there for the opening. And Yes i have gone long in my second account the last 2 sessions with this pick up in volume and volatility. Have a good weekend guys.
Looking @ charts I am kinda bullish for Monday pre-market and possibly bearish after the open.
10 and 15 min charts offer MINI bullish divergences in histograms, mini as low ranges are pretty tight;
1,2 and 3 min charts macd xover has occured;
1 min's price is "kissing" 20 SMA, though all other time frames are pretty much at the lower bollinger band, that offers also a positive indication IMO;
10 & 15 RSI above 50;
I will go long in pre-market if 5 min macd performs a xover, I do not really have a definite profit target here, perhaps @ daily pivot.
Possibly bearish after the open as the 60 min chart, as I see it, has been busy on Thursday through Friday "brewing" a "B class" bearish divergence, as the range is pants
it could have played its part already, who knows.
10 and 15 min charts offer MINI bullish divergences in histograms, mini as low ranges are pretty tight;
1,2 and 3 min charts macd xover has occured;
1 min's price is "kissing" 20 SMA, though all other time frames are pretty much at the lower bollinger band, that offers also a positive indication IMO;
10 & 15 RSI above 50;
I will go long in pre-market if 5 min macd performs a xover, I do not really have a definite profit target here, perhaps @ daily pivot.
Possibly bearish after the open as the 60 min chart, as I see it, has been busy on Thursday through Friday "brewing" a "B class" bearish divergence, as the range is pants
it could have played its part already, who knows.Quote from romik:
Looking @ charts I am kinda bullish for Monday pre-market and possibly bearish after the open.
10 and 15 min charts offer MINI bullish divergences in histograms, mini as low ranges are pretty tight;
1,2 and 3 min charts macd xover has occured;
1 min's price is "kissing" 20 SMA, though all other time frames are pretty much at the lower bollinger band, that offers also a positive indication IMO;
10 & 15 RSI above 50;
I will go long in pre-market if 5 min macd performs a xover, I do not really have a definite profit target here, perhaps @ daily pivot.
Possibly bearish after the open as the 60 min chart, as I see it, has been busy on Thursday through Friday "brewing" a "B class" bearish divergence, as the range is pants
EDIT: Due to my quote service registering wrong closing price and now showing a proper price, the following has changed:
no macd xover on 2 & 3 min chart
10 & 15 RSI is below 50
keeping in mind the above changes I would hesitate to be long pre-market and leave it till the morning when perhaps there is a more clear picture from my point of view of what's happening.
Well, that pre-market long has worked out OK, though I traded it in the simulated account.
I have attached a chart, where there is a bullish white hammer pattern (candle before last), which is in favour of your long position. Obviously the low of that hammer would be the support and if broken, would you close that position or continue building it?
I have attached a chart, where there is a bullish white hammer pattern (candle before last), which is in favour of your long position. Obviously the low of that hammer would be the support and if broken, would you close that position or continue building it?
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