ES Journal Archive (2006 - 2008)

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Quote from Brucelee:

S&P (SPH7) and EMINI (ESH7) March 07

TODAY'S OMNI DIRECTION IS LOWER

SELL SHORT AREA = 1462.00 / 1463.00

BULLISH POSTURE IS NEGATED IF ABOVE 1467.50 X.

TAKE PROFIT AT THE 1447.00 / 1445.00 AREA, OR EXIT BY CLOSE.

NOTE: SUPPORT IS EXPECTED AT THE 1451.00 LEVEL
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I'm with carboni on this.
 
Quote from volente_00:

I'm with carboni on this.
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I am waiting for the sweet spot..... 1469-1471 May not get there but not going to be aggressive on the short side until then or there is confirmation.

It could easily roll over here... I just have to stick to my plan
 
everyone sees the 45 steps forward 30 back.. what happens if it does a double step up..instead of 30 points down it does 30 points up.. changing the risk parameters for all those computer driven algo programs.
 
Quote from apex82:

Looking for a higher level 5 wave move to unfold on the er2 this week. Looking for the rally to come to a halt in the 834-836 area. I will be getting short in this area with scalping entries accumulating a position for a longer term hold with minimal risk as possible. As with all tops, if it is going to be one it will most likely have a retest. I will be adding another unit at this point if it becomes available. I recommend taking profits if you are long from earlier at this area and wait to get in at lower prices. If your plan allows for some countertrend trades, this would be the one. However, I always reduce size when countertrend due to the probabilities.

First profit target will be about 20 pts depending on where and if it tops out. Second profit target will be in the 50 pts area. Third profit target could be 100pts+ The position will be mainly traded with a 2 point stop but with different type of entries some will be in the range of 5-8 ticks.

Best case scenario is if this zone is hit while ES is testing the 1469-1471 area.

Here is the zone.... I highly suggest marking this on your charts..
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This trade is still active....

Just a note on another resistance coming in 831.50-832.50....

We are so close..... the only nuance is that we have reached the minimum expectation for the completion of the move. It could easily open up today and absolutely get hammered. The probability is that we will move up to the 834 area so that is where I become aggressive on the short side.

If the market can get up to 834-836 within the first hour it will highly increase the odds of a move to the downside.
 
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