ES Journal Archive (2006 - 2008)

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Quote from romik:

i've decided to wait until the fomc for re-entry, looking @ last fridays' candle, basically if the pros were indecisive, i have to be patient.
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You could not be more correct here. I am not going to trade until the meeting either. I think the market will be boring and I have a lot of work to do anyway.
 
Quote from 4re:

You could not be more correct here. I am not going to trade until the meeting either. I think the market will be boring and I have a lot of work to do anyway.
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i'll still trade breakouts with a break at the time of the fomc
 
Quote from romik:

i'll still trade breakouts with a break at the time of the fomc
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You know that is where I'll be also...I am going to use tomorrow to get some work done outside the house so I can be there for the meeting announcement. I doubt if the range tomorrow will be big enough to go through one of my levels anyway. If I am wrong then so be it. I would rather wait for the big mo mo...
 
Quote from romik:

Thanks Sosa, but I am hoping for a lot more :D

BTW Ishmael, you know that BRD on weekly in the S&P, IMO that is the most "powerful" divergence, shape wise. What are your thoughts?
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Very powerful--One of the main features was the space between peaks that I like so much.

One extra note though at the present time--The weekly close needs to be convincing above the 20 weekly MA for this thing to hit my 1320 target.
 
Quote from Buy1Sell2:

Watch the 3, 5 and 15 here for signs of an reversal intraday. We are getting that second wave of buying that is important for a reversal set up putting distance between the two peaks. Not a prediction here, just pays attention to watch these to see if they develop. Plenty of trading day left here. This second wave is those day traders that felt that they missed out today and are afraid to miss a further upmove and also contains greedy daytraders who are adding positions for another move up. (Amongst others--stops etc) They will either be right or wrong--This is how reversals begin their set up. Professional position traders are by and large not trading right at this moment , but would wait until later in the day.
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Without question this analysis from Friday is one that I am more proud of than anything that has come before in this journal :)
 
I've reentered my 15 long units this morning at 1281.50. Pros were buying late in the day Friday and prevented us from having a major turning point --at least not on Friday we didn't have one. We'll have to see what the closing today brings us--(morning shaping up with a bit of downside, but charts are indicating at least a bounce of sorts here. ) :)
 
Quote from Buy1Sell2:

I've reentered my 15 long units this morning at 1281.50. Pros were buying late in the day Friday and prevented us from having a major turning point --at least not on Friday we didn't have one. We'll have to see what the closing today brings us--(morning shaping up with a bit of downside, but charts are indicating at least a bounce of sorts here. ) :)
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Why did you re-enter now, rather than waiting for HIST to complete its down move to 0 mark? Isn't that more of a possibility, considering the way the 2nd peak in HIST is looking right now?

Thanks. Hope you had a nice weekend.
 

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Quote from romik:

Why did you re-enter now, rather than waiting for HIST to complete its down move to 0 mark? Isn't that more of a possibility, considering the way the 2nd peak in HIST is looking right now?

Thanks. Hope you had a nice weekend.
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We had the overnight bounce from 1278.50 and my position is of a longer term nature. I sold out at 1288.75 on Friday and reentered today at 1281.50, so picked up 7.25 points per unit basically trading around my position. Also, hourly has the RSI double bottom and I want to have some longs if the last bit of trading Friday is an indication of the strength of the market. (Could have been profit taking short covering on Friday but we'll see. Thanks for the question:)
 
Quote from romik:

Why did you re-enter now, rather than waiting for HIST to complete its down move to 0 mark? Isn't that more of a possibility, considering the way the 2nd peak in HIST is looking right now?

Thanks. Hope you had a nice weekend.
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EDIT: I've just re-read what I've posted, no answer required.
 
Quote from Buy1Sell2:

We had the overnight bounce from 1278.50 and my position is of a longer term nature. I sold out at 1288.75 on Friday and reentered today at 1281.50, so picked up 7.25 points per unit basically trading around my position. Also, hourly has the RSI double bottom and I want to have some longs if the last bit of trading Friday is an indication of the strength of the market. (Could have been profit taking short covering on Friday but we'll see. Thanks for the question:)
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thanks for the clarification
 
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