ES Journal Archive (2006 - 2008)

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Quote from apex82:

1530.50-1531.50 Its just retesting the pivot now. This is healthy for the bulls because it needs fuel (stops) above the market to move higher. So the best entry would be wait for a new low and then a reversal entry on a 5 or 15min reveral bar. If the support does not hold then you are not in the trade and wait for the better value area at 1526-1527
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Looks like you're going to get your preferred entry. Thanks for the wise advice to wait for a 5- or 15-min confirmation before entering. I did...wait, that is. :)
 
Quote from apex82:

looking for longs here for another 20 point advance
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Apex, when looking for a 5- or 15-minute confirmation of a turn for a long entry, do you consider completion of a bar with a higher high (after a series of bars with monotonically non-increasing highs) to be adequate confirmation?
 
Quote from mbusch:

Apex, when looking for a 5- or 15-minute confirmation of a turn for a long entry, do you consider completion of a bar with a higher high (after a series of bars with monotonically non-decreasing highs) to be adequate confirmation?
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no just a break above the prior bars high or low. ALthough waitiing for a close is better but you will miss more of the run and therefore would require more risk.
 
Buy stop to get long es at 1530 stop 1 tick below the low if filled 1st target 1539.50 and then trail for new highs.

Best entry is to wait for a retest of the pivot and then buy the reversal bar because odds are still likely that we make one more low. However, the risk reward is great enough to just get back in on another trade and not risk missing the move.
 
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