ES Journal Archive (2006 - 2008)

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I personally see a bullish pattern on hourly chart from yesterday, long grail, previously histogram & rsi divergence, it could well shoot towards next R level
 
Quote from apex82:

Stepping in front of the train getting short 1400-1402 area and 784.50 area on er2 holding for larger win. tight stops
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Once again.. I missed the russel by 2 points for a 100pt decline a few weeks ago I probably missed it again by a 1.5 points... time will tell.

Have a small piece on the ES short but once again was waiting for optimal entry at 1402-1402.50
 
Quote from apex82:

Stepping in front of the train getting short 1400-1402 area and 784.50 area on er2 holding for larger win. tight stops
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Same here.

Re-entered short @ 779.50, PS @ 781.50, holding overnight. Currently down $400 since starting, if my analysis holds true, looking to even up by headhunting. :D (it's all fun guys, it's all fun)

Having said that, I don't recommend this type of trading (catching knives OR stepping in front of trains) to anyone who might be perusing the journal, as it requieres big wins to makeup for the incremental losses.

Taking a note from B1S2, henceforth any trades I call, or analysis I even think about presenting, will be in the direction of the current intra-day trend as I am able to determine it for the security I am referencing. For this Board, and for myself.

Good trading,

JJ
 
If this 1395 level holds I will expect a move up tomorrow to test the main spot of the zone. Preferably, in the morning. Today was a classic short covering rally.

There is support below the market at 1390.50-1391.50.
 
I will be buying er2 at 777 in the globex night session if it can get down there and will be holding for a retest of todays high. It will be traded with a 1.5 stop. If stopped out I will reenter at 774.50.

The reason for the trade is a lower level symmetrical 5 wave move overlapped with a possible wave 4 pullback.
 
Quote from apex82:

Here they are for the NQ....
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Just an update on the daily support zones posted earlier...

I hope some of you marked these on your charts. You can see the nq zone was at 1711.10(red line) Low of yesterday was 1711.25... were talking the exact tick constructed from a daily chart several days prior. Of course you would have taken a little heat overnight, 4 points or so.. but that is picture perfect preciscion.

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http://elitetrader.com/vb/attachment.php?s=&postid=1376785

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Hi B1S2...

I was just thinking... When will you roll your H7 position into M7?

Thursday 3/8/07, is the "suggested" roll date by many brokerages, at least for intraday trading purposes.
 
Quote from apex82:

I will be buying er2 at 777 in the globex night session if it can get down there and will be holding for a retest of todays high. It will be traded with a 1.5 stop. If stopped out I will reenter at 774.50.

The reason for the trade is a lower level symmetrical 5 wave move overlapped with a possible wave 4 pullback.
More...

Order was filled on the globex at 777. Now trading up a point or so. You have to be careful trading the er2 afterhours, it is very thin. I would never have a position over 5-10 contracts due to the liquidity. However, the ES has pretty good volume afterhours so I usually use that if I am taking an afterhours trade. I am holding for a retest of todays highs (78.6 Retrace).
 
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