ES Journal Archive (2006 - 2008)

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Quote from hpeganz:

Do we have a BRD on 60 minutes??
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Very mild one. I am using the 240 here to guide me as I believe the longer frame in the system needs to rule. You'll notice that the BLD that I took the other day (and am still in) at 1260 was just a few posts after you asked me of the 240 was still bearish . My reply was that it certainly wasn't bullish. So at that point since the 240 was the long frame for my intraday, I should not have taken it. Also, with this BRD, at least on my chart, there is no RSI confirmation. I should point out as well, that I prefer two peaks in the histogram as opposed to a long continuous decline. Good question though!:)
 
Quote from Buy1Sell2:

Update on current long position. I am long 15 units at an average price of 1248.08. I'll hold here and add on dips I think for now.
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Do you have a profit target??:)
 
Lo and behold, here we are at the area of the failed BLD a few days ago. We had trouble breaking it then, but I feel that with perseverance we may break it this time. It may take several attempts.
 
At this time, I would like to mention that any 5 minute or 15 minute Bearish divergences can be traded during a run up like this, but I believe that targets on those should be small (2 or 3 points on the 5 , and 3 to 6 points on the 15). Just my opinion--you may have a different view of of course. :)
 
Congrats to all the longs who averaged in. Not sure if you were right or saved by CPI and Bernanke but who cares! Money is money and you got more in your pocket now than yesterday :D
 
Quote from optioncoach:

Congrats to all the longs who averaged in. Not sure if you were right or saved by CPI and Bernanke but who cares! Money is money and you got more in your pocket now than yesterday :D
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Thank you. I would like to err on the side of humility and call it good fortune .:)
 
Quote from optioncoach:

Congrats to all the longs who averaged in. Not sure if you were right or saved by CPI and Bernanke but who cares! Money is money and you got more in your pocket now than yesterday :D
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I think it was a combination of various bullish indications that helped for the markets to bounce. Right And Wrong We Always Are (Yoda), our goal is to be right more than wrong and when we are wrong realise that we are wrong and not pretend that we are right.
 
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