ES Journal Archive (2006 - 2008)

[vertigo3]

.618 extension down of yesterday's range is 1534.25.

 

[apex82]

Quote from apex82:

Still short and itching to take some profits off the table.... Moving profit 1 up to 1543 from 1538.50. Potential gain of 10.5pts

Profit 2 will be at 1534( may take it around 38.50 if market finds support or if I am not on the beach)

Profit3 will be trailed for a move to retest the June 12th low which I am long from with my 3rd unit on another account still waiting to be covered at 1598.

Taking profit 2 here at 1536 It will probably get down to 1533.50-1534 but I dont want to be greedy.

+17.5pts on profit 2 (Missed my stop by one tick premarket.... lucky)

2 for 2 on swing trades both resulting in 10:1 reward to risk.... Thats how I love to do it... precise low risk entries and large rewards. Get rid of your emotional trading, stick to your plan and ALWAYS use proper position sizing and you will make more money then you can spend consistently...

Now currently short my last unit of ES, trailing my stop and will let this market tell me when to get out.

 

[wave]

commercial operators accumulating longs here.

 

[osorico]

Quote from osorico:

I don't track them too far back for ES. YM is my gap-baby.

FTR: close-by YM unfilled gaps...
6/5/07+6/15/07 @13649-13727
6/13/07 @13438-13444

EDIT: slightly misleading is the inclusion of 6/5/07. Technically this gap filled 6/14/07. But the action on that fill, followed by the huge gap on 6/15/07 keeps it alive for me. 13650 area will likely become some sort of support, but it's big air beyond there.

NOW, the 6/5/07+6/15/07 gaps are filling/filled. IMO, this action clears the way for new YM highs. Not saying that's the plan, but these large gaps should no longer magnetize the action.

Good trades to all
Osorico

BTW; Daily cycle analysis suggests up for about 12 trading days. This is coinciding with a possible bull flag formation on daily Dow cash. Just thought Id mention it. Suggest is the operative, as the usefulness of this analysis has been minimalized due to the unprecedented worldwide synchronization. The Sync NEEDS to break :eek:

 

[BoyBrutus]

Quote from wave:

commercial operators accumulating longs here.

Wave
Can you give a vague indication of how you are calling this ?

Thx

 

[JSSPMK]

long 1538, come on

 

[wave]

Quote from BoyBrutus:

Wave
Can you give a vague indication of how you are calling this ?

Thx

Fear & Greed patterns will never change. The commercials feed off the small fish. The fish(supply) feeds the sharks (demand). The shark fins become easy to spot after many years of looking for them.

Wyckoff and even Livermore were experts at spotting the shark fins.

 

[wareco]

Quote from JSSPMK:

long 1538, come on

If you have to beg, you are usually on the wrong side of the trade.

 

[JSSPMK]

Quote from wareco:

If you have to beg, you are usually on the wrong side of the trade. [/QUOTE

and you never have a bad day?

 

[wareco]

Quote from JSSPMK:

Quote from wareco:

If you have to beg, you are usually on the wrong side of the trade. [/QUOTE

and you never have a bad day?

Of course, how do you think I know what I wrote is true?

PS. When I wrote "you", I meant any trader, not YOU specifically.