ES Journal Archive (2006 - 2008)

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Quote from JimmyJam:

Yeah, 2 out of 3 are breaking their yesterday's lows at the moment.

Does it end positively?

Don't know, have to wait for the setup to see that, but the market wants to (is) testing lower support levels.

JJ

P.S. Lookback to Mon 3/5 - Tues 3/6: Botom is probably in with tremendous upside potential for the overnight holders "Shoutout to 4re". :D
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Pooped in-and-out and grabbed a quick 2pts+ ES, (B 1391.75, S 1394.00) based on that judgement call (not even one of my setups, but looked too obvious).

Honestly don't think we're selling today, think (as Apex mentioned) that a bottom is being established and we're going to do the up move now.

Good trading,

JJ
 
Quote from apex82:

A move back above 1404 would put the momentum back in the bulls court. I doubt we will get up there up today, but its possible. At this point, the es has completed a lower level 5 wave move at the globex low and and we should see at a minimum a rally up to the 1396 area. We may open up and retest the area again 1384-1385 and then move up. This would be a key test.

Nice resistance on the er2 coming in at

778.70-779.30

781.50-782.50

ES resistance coming in at

1397.50-1398.50

1400-1401.50

1406-1407.25
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Well market moved exactly as expected... straight off the open we got the rally up to the minimum target areas and right into R1 on both the ES and ER2. They then put in a vertical drop back to test the 5 wave move projected zone again and put in a DB and rallied again.

Here are the visuals of the resistance zones on the charts that I provided before the open.

Look at the russel chart... freight train right into the resistance zone, gets a point above it and then drops like no other. I unfortunately had my sell limit order on es at 1397.50, missed by a tick and was not able to participate in the 10.5 pt drop with no heat....

-Apex
 

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Quote from ammo:

just curious where you crunched those #s from,those are the #s i get from yesterdays market profile
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Really? Well thats what I like to hear. My zones are comprised of several techinques and methodologies to form an overlap or syngeristic zone. I never have zones without at least 5 reasons for putting it there. Thus the power of synergy is my edge and holy grail.

You will notice how the er2 got above the zone by a point or so but then once it got back into the zone it held perfectly. This is a classic case of just a lot of stops being run and not a case of a bad zone.
 
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