ES Journal Archive (2006 - 2008)

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the precursor to the 2/27 sell off was the daily spooz chart on 2/20 we put in an inside day followed by an outside day & a clear reversal pattern......it won`t take much to put in an outside day today as i expect to trade above the 58 hi....to 61/63 & take out yesterdays lo at 53.50 would confirm "outside day" & a 2 to 3 day holder.

otherwise new hi`s after 8 str8 up days seems to be the usual grrriiiinnnnddd.
 
Quote from Spooz Top:

the precursor to the 2/27 sell off was the daily spooz chart on 2/20 we put in an inside day followed by an outside day & a clear reversal pattern......it won`t take much to put in an outside day today as i expect to trade above the 58 hi....to 61/63 & take out yesterdays lo at 53.50 would confirm "outside day" & a 2 to 3 day holder.

otherwise new hi`s after 8 str8 up days seems to be the usual grrriiiinnnnddd.
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make that the week of 2/20 price action for the reverse signal.
was hoping to trade higher before lower here.....still good potential.
 
Quote from romik:

GL! I would have waited though, but than again I don't know what you are looking at.
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So long as the channel holds, the counter-trenders are going to make their money.

For example, when it breaks to the upside, there's no point in trying to initiate shorts (like I was doing last week), because the market will then start to enter trendmode.

Same thing to the downside. IF this Long holds, it should be good until at least 1458 or so (of course this game isn't going to last forever), but when the market wants to actually start trending, it will usually warn you (usually, but not always - :( ).

JJ
 

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