ES Journal Archive (2006 - 2008)
- Thread starter Buy1Sell2
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Depending on what indicators you use, 1450 to 1460 seems the most logical area for a pullback. The problem I have with that area is that every single time we have had any kind of sell off since going over 1500 people have been calling for that area. I have honestly lost track of how many times someone on CNBC has called for us to go there. It would seem strange that the market would do what so many expect.
Longer term trend is still up. In fact, a bit renewed here. Longs are what should be looked for. Will I miss good short opportunities? Probably, but I want my best probabilities to play out. I will be only looking at longs for the time being. (Intraday traders of course, may define longer term in a much different manner and that is fine)
open range test here. I would look to buy 60.00's and sell above as we probe higher. With a sell stop at 56.
the cheap dollar increases the probability that european companies make bids for other US communication markets.
the cheap dollar increases the probability that european companies make bids for other US communication markets.
open range trading is a form of risk management, the closer your buys are to it and sell stops below it, as the price heads above the open range, it tends to test previous session highs. And same for price below open range, it tests previous session lows.
open range trading takes your own opinion out of the market, and you just trade it robotically.
the drawback is a quiet day when price just meanders in and out of the open range, and your stops on both sides keep getting hit, and pit traders will do it to you so they bank the difference.
open range trading takes your own opinion out of the market, and you just trade it robotically.
the drawback is a quiet day when price just meanders in and out of the open range, and your stops on both sides keep getting hit, and pit traders will do it to you so they bank the difference.
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