ES Journal Archive (2006 - 2008)

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Quote from mbusch:

At 0800 EDT, ES formed a very nice selling tail when it touched 1521.75 (one tick above Apex's resistance zone of 1519.50-1521.50). 15-min RSI was oversold. 15-min MACD turned postive the next bar, which was a strong confirmation bar on the 15-minute chart.

L 1523.25
PS 1521.25 (2 pts)
PT 1532.25 (9 pts)

Apologies to Apex for the wide stop; I'm sure he would frown on a 4.5-to-1 reward-risk ratio as being grossly inadequate. :)
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Very nice trade mbusch... just woke up to see they held it at minor R perfectly overnight and plunged it down right into the major support zone. I may be jumping on soon as well. I want to wait to see if they are going to test in RTH. This is make it or break it time for this market. This is where the best entries are made at precise turning points... if your wrong you get out immediately and wait for the next trade. If your right you capitalize in a big way.
 
Quote from volente_00:

Let's see what happens at the 50% retracement level around 1527 and change.
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Indeed. My finger's on the trigger to get out of this trade early.
 
If this market breaks to new lows in RTH I wouldnt buy the knife... We could see 1516.50-1517. However, if the major zone holds and bases 1519.50-1521.50 I will get long there.
 
Quote from mbusch:

Indeed. My finger's on the trigger to get out of this trade early.
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Not thrilled with price action here. PT stop raised to 1525.25 (2 points above long entry). Will continue to trail stop up.
 
Quote from mbusch:

Not thrilled with price action here. PT stop raised to 1525.25 (2 points above long entry). Will continue to trail stop up.
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Stopped out at 1526.25 for +3. Now flat.
 
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