ES Journal Archive (2006 - 2008)

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Did anyone else catch the "test spikes"--i.e. failed attempts to goose the market up--that were tip-offs that the market was heading south?

Sign #1; Around 12;15 EST, a new high and then an immediate reversal. Most assuredly taking out the buy stops of some off on lunch. But there was no buying forthcoming, and the market moved down, and has been down since.

1:31 EST--big bar up on the one-minute charts, an apparent breakout from the 1523-1525 congestion. But this bar was SOLD.
 
Quote from mbusch:

1523-24 zone penetrated to the downside. I think that drastically reduces the probability of another rally today, and makes the bias downward.

S 1522.50 with 1.5-point stop
Targets 1517.50, 1513.50, 1508
More...
ES struggling to break through 1517.50 support. I have lowered my stop to 1519.50. Adding one more unit to short here at 1517.25. Target 1513.50.
 
Quote from mbusch:

ES struggling to break through 1517.50 support. I have lowered my stop to 1519.50. Adding one more unit to short here at 1517.25. Target 1513.50.
More...
First unit profit taken at 1510.50 for +12.00
Second unit profit taken at 1513.75 for +4.00
Done for the day. :)

Good trading, everyone. See you tomorrow.
 
market is supported till fed meeting.. around 1520 level.. pretty much.. too much risk to get short.

with positive news from the FED:

a 20 point rally from 1525 puts us close to highs.
 
Quote from mbusch:

First unit profit taken at 1513.75 for +8.75
Second unit profit taken at 1510.50 for +12.00

Done for the day. :)

Good trading, everyone. See you tomorrow.
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well done man, I couldn't figure out how to trade ES profitably.

Made 48.50 points in DAX on 3rd lot earlier on.
 
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