Did you have a scuba tank on to survive that fall to 1394 first ?
Short at the moment at 1402.50.
This either falls manana or we go back to test the old highs.
ES Journal Archive (2006 - 2008)
- Thread starter Buy1Sell2
- Start date
- Status
Did you have a scuba tank on to survive that fall to 1394 first ?
Short at the moment at 1402.50.
This either falls manana or we go back to test the old highs.
ES pulled back from area as stated in a hurry right to the buy zone. When everyone else was thinking the market was going to drop drop drop, i was buying. It then progressed to retest highs which was profit target 1 and 2. I now have a BE stop and will be holding for a homerun. Here is the scenario for tomorrow...
ES is now in wave 5, showing a possible completion in the 1403.75 area or 1407.50. I would like to pinpoint one over the other, but the odds are 50/50 for which area has the better odds due to price action data today. This 5 wave move is also completing in the area of a massive daily pivot which gives it increased strength. Another thing going for it is the lack of retesting yesterdays lows. I was expecting a double bottom to be put in place before a move like this. This makes the run more extended and overbought. I will be shorting the 1407.50 area on another account with a 1.5 stop with smaller size then normal. This is due because it is countertrend, market is coming off daily level support, and I know there is a shitload of stops above those highs that they are eager to run. Once again, this is a risk of 1.5 for a minimum profit target of 10pts+. A more conservative entry then a freight train entry would be to wait for the drop to happen off the level and then short a retest. Best case scenario is if the market opens in the sell area and starts selling off immediately, if not then a move up to the sell area within the first half hour would increase the trade as well. If this move is confirmed we will be putting in a massive double top on the daily charts and could get an extended move to the downside over the next week.
shorted at 1403.5
2 point stop
2 point stop
closed half at 1400.25
stop moved to BE
stop moved to BE
closed the rest at 1396.75
Congrats Volente. You seem to have the ES at your feet.....
where I covered was near a rule of 10 buy, worked once, will see about twice coming up on 10:30 est but I suspect the bulls will back.
seems like a rule of 10 buy at 1396 right here for a 10:30 reversal.
There's your bounce off 1396, sell half around 1399 , set the stop to BE and let it ride.
- Status