ES Journal Archive (2006 - 2008)

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Quote from romik:

I am hoping for 1293

EDIT: BTW if hourly closes around this level, are we looking at short grail B1?
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no, I favor the long side currently. The short pattern is not quite what like, while previous long one is.
 
there is just not enough action from either side

EDIT: It's a rare occasion to see such a mixed T&S, I don't think most had any idea of what's happening today in the afternoon.
 
Quote from Buy1Sell2:

yes , there was only the probability of closing strength. The chart still favors strength here until something changes
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I cleared 1.25 on it and I think I should be grateful, wouldn't you say?
 

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Quote from romik:

B1, please have a look on daily and tell me it looks like ES will be going lower before any more upside, lie if you have to :)
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I don't really have much of a feeling of huge downside right now, but will be paying attention to the 1291.50 low as the possible reaction low here. I would prefer the new reaction low to be around 1286.
 
Quote from 4re:

Romik,
I gotta say I am a little worried about your short position at this time. If you look at this daily chart you will see that we are in a bull flag pattern right now. Hopefully it will fail and turn into a reversal for you but I would keep an eye on it anyway. Here is the chart and I know you'll know how and when to exit. Even if it does work out the way it is supposed to maybe we will get a false breakout to the downside first. I am rooting for you anyway.

Gary
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Yes, it is a challenge, certainly. My money is on BRD working out SOON. I am ready to take a loss in this longer short position, though it has been offset in my short term account activity, the question remains as to at which level I have to close it. I will most likely extend my stop to twice the initial, due to hedging and my belief in a strongish possibility of ES making a sharp upwards thrust, by doing so it will create another lower peak in the HIST and also RSI second lower peak (CCI as well). At that level (~1320) I will add another 3 contracts and adjust the stop level. Time will tell basically.

Thank you for pointing out the risk, appreciated.

Romik

I am looking at SPY calls at the moment.
 

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