ES Journal Archive (2006 - 2008)
- Thread starter Buy1Sell2
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Quote from Sponger:
Props to any intraday trader that has the guts to hold a position into major news releases - either ya got guts or you're nuts, not sure which
Official song of the S&P500 today.....
"Your price action is like....a rolla coasta baaaaaabeeee...I wanna ride"
If it doesn't hold the 50 dma into the close we will get a gap down open tomorrow to suck in some more shorts...
Then we can close that 0622 gap at 1533
The selling tail at 15:33 tells the story... they tested the upside to see if there was a bid, and when there wasnt, DOWN SHE CAME.
Long into the close @ 1519.75 1 contract
TP 1526.75
SL 1514.50 (at market open, don't want to be taken out with low volume)
*first post* been watching for the past month or so. Thanks for all the insights.
EDIT: Was thinking RIMM earnings would help nasdaq/market tomorrow and RIMM up 20 points in after hours.
TP 1526.75
SL 1514.50 (at market open, don't want to be taken out with low volume)
*first post* been watching for the past month or so. Thanks for all the insights.
EDIT: Was thinking RIMM earnings would help nasdaq/market tomorrow and RIMM up 20 points in after hours.
There is another inverse H and S setting up. Downside 1498.5- 1500 , upside ~ 1525 on cash.
overall the action is bullish, the desks that trade volume didn't want to take everyone up with them.
friday 4th of july weekend approaching. great earnings. great upgrades. I don't think the desks want to give the market a bargain.
otherwise it would have sold off hard. This action provides enough doubt to the upside that people getting net short here, will fuel it up.
The thing you have to remember is whenever a key level or outer rimm of a trading range is tested such as 1500, it swings hard to the other end, and kills everyone in between fading it.
Today wasn't the day when everyone was expecting it to do it.
http://www.forexfactory.com/calendar.php
friday 4th of july weekend approaching. great earnings. great upgrades. I don't think the desks want to give the market a bargain.
otherwise it would have sold off hard. This action provides enough doubt to the upside that people getting net short here, will fuel it up.
The thing you have to remember is whenever a key level or outer rimm of a trading range is tested such as 1500, it swings hard to the other end, and kills everyone in between fading it.
Today wasn't the day when everyone was expecting it to do it.
http://www.forexfactory.com/calendar.php
Looks good Spectre -
which MAs are you using for this 60 min.
chart, if the q. is allowed.
What I have not found yet on ET is a thread that covers the question
WHEN NOT TO TRADE - 'indicatorwise' and
depending on time frames.
An answer to this question would solve
most problems imo, since there are
sufficient good indicators for the rest of the game.
C.
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