ES Journal Archive (2006 - 2008)

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This is microscopical trading.

Got a short signal at 1306.25 but didn't trade because i was not at home.
Got a long signal at 1304.75.

It looks like the market is dead; but if you are not in the market you will miss the big move if there is one. And the problem is that you never know in advance what the market will do, move or not.
 
I have decided to officially consider 1291.50 to be the reaction low. I would have preferred to have a little more strength in the market to do this, but enough time has passed that I need to be moving my outpoint upwards in what appears to be a weakening market. I don't believe it's a short yet on a daily chart basis, although I will be watching for those signals. I do believe that the 240 chart is suggesting at least short term downside. As always, don't risk more than 2 percent of total liquid net worth. :)
 
Quote from m4a1:

omg someone give this market a big kick in the butt.
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Daytraders seem to place so much emphasis on the payroll report, that this is what you get the day or two before. A bunch of sitting on hands.
 
Quote from spike500:


Got a short signal at 1306.25 but didn't trade because i was not at home.
Got a long signal at 1304.75.
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Were you not at home because you had an inkling of a tight market today?
 
No, just had something else to do. Inklings don't count because you never know how strong the market will move. Often we get big moves when nobody expects them, just because nobody expects them.

When i started trading years ago i lived for trading; now i trade for a living. It improved the quality of my life very much.

Quote from Buy1Sell2:

Were you not at home because you had an inkling of a tight market today?
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Nah, not in my market (stocks that I look at) yet. Welcome back. Currently am busy reading through your posts trying to pick nuggets here and there. :)


Quote from spike500:

It looks like you scared the market.
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Quote from Buy1Sell2:

240 Loaded for Bear?

I think it's a good probability if the current bar ends there or lower.
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240 still looks like it is loading up for bear.

pattern not quite mature yet.
 
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