ES Journal Archive (2006 - 2008)

Status
Not open for further replies.
Quote from apex82:

Got above the zone by a point or 2, but was expecting that due to the large amount of stops above the market in that area. Minimum projected target was 1432, which we got today. I love watching these moves unfold... amazes me everytime

..Here is the updated chart with the preceding days price action..
More...

How do you reconcile differences (Elliott Wave count) between cash and future markets? For example, today, IMHO the ES needed to break 1430.50 to be considered a wave 3, but the corresponding levels were broken early in the cash markets (INDU, SPX, & NDX)?
 
Quote from 4re:

Good job, have you identified a potential target yet?
More...

not really, I just want price to get away from 1439.50-1441.50 range either breaking 1411 or 1445, doesn't matter either way
 
I always refer to the cash markets when analyzing for an ewave vs a wedge. I.E waves overlap eachother or not. I am not sure what you are seeing on the sp cash vs the es for today... They look the same to me. I would also agree about a breach of 1430.50 to begin a wave 3 move down. At this point it looks like a bearish 1 2 1 2 forming on the ES but wont come into action until a break of 1430.
 
Quote from apex82:

I always refer to the cash markets when analyzing for an ewave vs a wedge. I.E waves overlap eachother or not. I am not sure what you are seeing on the sp cash vs the es for today... They look the same to me. I would also agree about a breach of 1430.50 to begin a wave 3 move down. At this point it looks like a bearish 1 2 1 2 forming on the ES but wont come into action until a break of 1430.
More...

Yes you are right. My weighted cash market chart (INDU, SPX, & NDX) showed a breach because the NDX was hammered yesterday.
 
riaamaan

The +6 line is 6 ES ticks (1 1/2 handles) and same for the -6 line (1 1/2 handles)
The 0830 CST bar first tick is used to pass on the first 5 minutes after the pit opening as a way to let opening settle down. Subjective, some might want to wait 15 minutes etc. But i stick to 5 minutes.

APEX.............I disagree on your touting the ER2, but i will agree to disagree and leave it at that. I have been around enough to always want to trade the most liquid and most followed, most useful hedging instrument the industry uses. the volume numbers confirm those ideas. i yes would love to see the ES back up to $250 a pop and traded in 10ths. We are far from the days when the SP500 was called in on the phone and was $500 a pop. ... :eek:

Good trading to all today.
 
Quote from bighog:

Today we opened the pit at 1439.25 @0830 CST. The next bar opened at 1439.50 (give or take a tick according to your chart service). The +6 tick and -6 tick lines were placed and i was good to go. We went up to 1440.75, 1 tick shy of a long entry at +6 ticks from 1439.50. Close but no cigar. On the very next bar we did indeed hit the -6 line at 1438.00 and i was short. Took the usual 5 handles and was sitting simply pretty. I will always take a fast move of 5 handles and look to get back in after the mkt retraces. A lot of screen time went into observing how the ES works its magic.
More...

Ok, this is a little concerning. I checked the charts on the 2 different brokers I have and they each have different 9:30ET open prices and different 9:35ET open prices on the 5min bars. They are also different than what you show. Hmmmmmmm
 
ryank

Ok, i see. The times i used were CENTRAL times not Eastern, sorry for the confusion.

PS, and/or also this, the ticks might not be exact either, i sometimes just jot down what i eyeballed. .. :D
 
Quote from bighog:

ryank

Ok, i see. The times i used were CENTRAL times not Eastern, sorry for the confusion.

PS, and/or also this, the ticks might not be exact either, i sometimes just jot down what i eyeballed. .. :D
More...

I got the times matched up ok, I was just concerned about 3 different open prices on the ticks.

With you simple method, how far away from your entry do you place your stop?
 
Status
Not open for further replies.
Back
Top