ES Journal Archive (2006 - 2008)

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thanks guys,

noticed how it bounced off the 'outlier' trendline.

and that trendline was already on my charts even before it headed there.

for the 60 minute to turn positive, the low on the bar of this 60 minute period can't break. And it shouldn't if the agenda is upwardly biased.
 

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Quote from Spectre2007:

thanks guys,

noticed how it bounced off the 'outlier' trendline.
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hehe, nice Spec, that similar trendline was my target on FDAX from last trade.
 
Quote from Spectre2007:

thanks guys,

noticed how it bounced off the 'outlier' trendline.

and that trendline was already on my charts even before it headed there.

for the 60 minute to turn positive, the low on the bar of this 60 minute period can't break. And it shouldn't if the agenda is upwardly biased.
More...

The problem I run into with trendlines intraday is that I am constantly redrawing them as price action unfolds. I understand what you are saying with the outlier and having drawn it already. The question is, with so many lines to track intraday, how do I rank them in importance - or does price action tell you which line is important based on how it reacts to each line.....maybe I just answered my own question.

I hope my discussion on these topics is not taking away from the thread, if everyone thinks this belongs in another thread, please say so.
 
Quote from Sponger:

The problem I run into with trendlines intraday is that I am constantly redrawing them as price action unfolds. I understand what you are saying with the outlier and having drawn it already. The question is, with so many lines to track intraday, how do I rank them in importance - or does price action tell you which line is important based on how it reacts to each line.....maybe I just answered my own question.

I hope my discussion on these topics is not taking away from the thread, if everyone thinks this belongs in another thread, please say so.
More...

the implication with any common indicator is that others are using them, and most will place trades on the initial indication, the MM's are also looking at this stuff, so those initial trades get broken or stoplosses hit, then the price resumes the initial indications. So drawing outliers is important as also putting outlier stops since the common stops will be hit.
 
Quote from Spectre2007:

the implication with any common indicator is that others are using them, and most will place trades on the initial indication, the MM's are also looking at this stuff, so those initial trades get broken or stoplosses hit, then the price resumes the initial indications. So drawing outliers is important as also putting outlier stops since the common stops will be hit.
More...

Look up....the sunlight is starting to break through the clouds (for those that are jonesin' for some "wave speak").

More words of wisdom, thanks to Spec for the continued education....and thanks to everyone else on ES:cool:
 
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