ES Journal Archive (2006 - 2008)

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Quote from apex82:

For sure... I am not trying to change your trading. I am just trying to point out some things from a different perspective. Having this big gap down is the ideal setup for a huge rally today.

The market has the structure to make a LARGE move(trend day) in one direction today.

Until 1427 is broken you have to go with the odds and probabilities that we are going to get a move to the upside. If and once that is broken then the bias would switch to the downside.
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Apex, what does the 1427 level in your numbers/projections mean?

I don't see this number as previous suport or resistance in my charts.

Thanks !
 
Quote from apex82:

For sure... I am not trying to change your trading. I am just trying to point out some things from a different perspective. Having this big gap down is the ideal setup for a huge rally today.

The market has the structure to make a LARGE move(trend day) in one direction today.

Until 1427 is broken you have to go with the odds and probabilities that we are going to get a move to the upside. If and once that is broken then the bias would switch to the downside.
More...

Yes, I see it also, divergence on the daily chart & a failure swing in RSI look amazing, very close to how it looked back in the Summer. I am somewhat concerned with the 240 chart at the moment though, I am not entirely convinced that the timing is right to initiate a short term Long at the moment. I still have my 1408 'flip' Long, so if you are correct - great!
 
My vote is for a huge rally.

But what I'll be doing is hanging out in the chatroom thread watching Austin Pasamonte and Virgin have a trading duel.

It should be even more entertaining than this thread (and that's saying A LOT!) :D

Jimmy Jam
 
Short term charts point to a Long
240 IMO points to a Short
Sentiment is bearish & because of that I am hoping to see this 3/4 divergence working out, but because of lack of conviction in the 240, I am on the sidelines right now, for the time being.
 
Quote from romik:

Short term charts point to a Long
240 IMO points to a Short
Sentiment is bearish & because of that I am hoping to see this 3/4 divergence working out, but because of lack of conviction in the 240, I am on the sidelines right now, for the time being.
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just out of curiousity, what do you mean by "240"...

and 3/4 divergence....

Are you saying ES will go down and turn around...

thanks in advance
 
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