ES Journal Archive (2006 - 2008)

[mbusch]

Quote from mbusch:

Getting in late here...overslept...runny nose and sore throat.

At 12:52 ET, short at 1475.50
At 1:08 ET, covered short at 1468.75 for +6.75

At 1:19 ET, short at 1471.75
BS 1473.75 (2 points)

PT1 1466
PT2 1445

Moved BS to breakeven

So far, ES is running right down the price channel as charted by Spectre, textbook.

Out at 1571.75 for breakeven. Descending price channel upper trendline broken.

 

[smilingsynic]

Quote from smilingsynic:

Wyckoff spring.

Wyckoff spring, part 2.

 

[wave]

Quote from smilingsynic:

Wyckoff spring, part 2.

Wow, now this journal is getting for real. I see others are hearing the voices now as well.

 

[Spectre2007]

still waiting for a momentum move down... to clear some major stops.. this stop clearing is too slow..

then when the move is forceful, true agenda for the close will be visible..keep an eye on the trendys as early warnings signs of a reversal.

 

[smilingsynic]

Quote from vertigo3:

smiling,
are referring to current market conditions for ES, or to the upside failure that returned to fill the morning gap?

I was referring to the dip below current support, and then the snap back up. Wyckoff was a key technical trader a century ago whose writings offer more nuggets of wisdom than 99% of the trading books currently in print. He was applying auction theory to the markets long before they offered Market Profile courses and materials.

 

[wave]

Quote from smilingsynic:

I was referring to the dip below current support, and then the snap back up. Wyckoff was a key technical trader a century ago whose writings offer more nuggets of wisdom than 99% of the trading books currently in print. He was applying auction theory to the markets long before they offered Market Profile courses and materials.

See I don't have to explain it, most already knew and now knowing. I was just trying to show you how well it works.

 

[wave]

Livermore also caught on to what Wyckoff was seeing.

 

[Spectre2007]

channel intraday.... stops building up around it.

1435...if that channel breaks with force..

1435 is implied but a trendreversal back into that channel implies 1490.

 

[smilingsynic]

Quote from wave:

See I don't have to explain it, most already knew and now knowing. I was just trying to show you how well it works.

It works because undercapitalized traders place their stops too tightly.

 

[wave]

Quote from smilingsynic:

It works because undercapitalized traders--a century ago and today-- place their stops too closely. There needs to be a buffer zone.

Isn't that what Buy1Sell2 was trying to show you guys? Stay out of their way, they draw the line in the sand, and those who see it and use it will trade with a confidence they never imagined.