ES Journal Archive (2006 - 2008)

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Quote from apex82:

bullish 5 wave move is overlayed with many other cfs that I can not comment on. Bulls are exhausted, a correction is imminent. The magnitude of the correction could be big as we are in a weekly resistance zone. I have called these 30+ point declines to the tick numerous times over the past few months. It is ranked about a 7 out of 10. These are always countertrend so they are not 90% accurate, but they are around the 75 % range.
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Hey Apex, happy new year :D

Doesn't seem much conviction today Apex, especially with the Martin Luther King Holiday Monday. But will look out for the decline Tuesday and Wednesday or catch a few into the close. Thanks for the Chart
 
Quote from apex82:

bullish 5 wave move is overlayed with many other cfs that I can not comment on. Bulls are exhausted, a correction is imminent. The magnitude of the correction could be big as we are in a weekly resistance zone. I have called these 30+ point declines to the tick numerous times over the past few months. It is ranked about a 7 out of 10. These are always countertrend so they are not 90% accurate, but they are around the 75 % range.
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What is the projected downside IYO?
 
Quote from BoyBrutus:

Hey Apex, happy new year :D

Doesn't seem much conviction today Apex, especially with the Martin Luther King Holiday Monday. But will look out for the decline Tuesday and Wednesday or catch a few into the close. Thanks for the Chart
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Hey BB,
Been busy with xmas and vacations so just getting back into the grind. Yes, if there is a selloff it probably wont commence until next week. But the zone has seemed to put a stop to this rally for the meantime. I still think it needs to get a bit higher into the zone and run some stops. A lot of sellstops accumulating below the market. Projected target would be in the1436 for 1st profit and 1431 area for second. I would then let my runners go to breakeven and hold until price action told me to exit. The only nuance is that this is in a weekly resistance zone so it could be a 60+pt drop.
 
retest was common for most traders....when the extreme early signal based on price movement within pt or 2 of apex not using charts less than 20 min then system is keeper.....
 
in other words why should I care WHY the price moved in a direction if the system tells me WHAT the very highly accurate buy/sell signals look like and where to enter the trade? Every day...There are only 2 types of markets u will encounter...RUN AND CHOP...if you have to use 2 time frames and 2 systems it is good, if they work....support resistance are not high enough percentage for me as a daytrading "idiot"......volume lags......ebbs and flows......same category as s/r.....ignore button is for the ones who can't resist reading everything on forum...LAST NQ BUY WAS CLEAR JUST LIKE SELL AT TOP AT R E T E S T ...bias of the mind and anticipation is bad
 
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