ES Journal Archive (2006 - 2008)

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Quote from mbusch:

Closed out my short at 1548.25 for +8.25. Now flat, and taking a break here.
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Good trading, im still one unit short, got rid of some more at 1545.75.

Want to add on to shorts on retrace to 1553. Price spikes as Apex said do scare the shit out of ya, but volume does not indicate any big buyers just yet.

Been a good week for me as i was short YM since yesterday, and looking to take profits on that when we break even lower.
 
Quote from apex82:

doesnt get much better then that....

I hate trading bear phases. They always scare the shit out of you when the spike the market up huge on every new low. If we get another low I expect this thing to finally start moving.
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Quote from JSSPMK:

AS, have a look at this chart. I am aware that you prefer to trade channel at the moment, but what do you think about this? This specific pattern is a money maker on 1,2,3,5,10,15,30,60,240 minute charts, this is a multi day format chart. I think that's a bit scary for the longs, they better take out that resistance IMO and soonish.

Actually I just spotted a 4th peak there, such a sneaky little peaky LOL

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1533392>
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that was DAX on 16th
 
This 1546-1548 resistance zone has proven to be surprisingly robust. I had it pegged as weak resistance and thought we'd have blasted through it by now, but it's looking not so weak anymore. I'm wondering whether perhaps we may head back up to 1554 and then make another run down? If that happens, I don't think I'd have the nerve to play the long side, but would definitely love to re-enter short at 1554-1556! A redo would be a treat.
 
I'd like to see a retrace also...1550 would be nice and 1554 would be even nicer. But where'd all the bulls go? On the run up to Dow 14k you couldn't swing a dead cat around without hitting a few dozen of 'em! :p

MDT
 
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