ES Journal Archive (2006 - 2008)

[apex82]

Quote from apex82:


Market has just hit 1428 as I am writing this... just 3 freaking points away from my 1425-1424 target that I have been looking for to exit more of my shorts posted the day before the selloff.

Profit on this exit will be approximately 125 points profit(per contract) traded with a 2 point stop..... one of the best trades I have ever made in terms of R:R and patience. You can never be to greedy when you know your right.

After this will still be holding a small piece for 1400 and last but not least 1345.

With ya on that mbusch just exited at 1425.75-1426 for a massive gain Champagne is on me!

 

[jagmot]

Quote from jagmot:

I was thinking unlucky but we will only know as time goes on since I think we are close to the bottom of this current liquidity crisis.

Was just checking prices before I got to bed and yep, patience is key as I just picked up my long at 1426.25, small size.

Stop hiding out below 1420. 2 to 1 risk ratio, target close to daily pivot point. Goodnight everyone.

 

[volente_00]

Quote from tommymoose:

Nice trade MBusch. I take it you saw the 2700 at the bid at 1525 and weren't trying to call its bluff?

That was me trying to put my small long position on.

 

[mbusch]

Quote from tommymoose:

Nice trade MBusch. I take it you saw the 2700 at the bid at 1525 and weren't trying to call its bluff?

Yeah, I saw that (and I'm sure you meant 1425.00). Might well have been a bluff, but I didn't think it was worth hanging on for two more ticks to find out. As it happens, 1425.50 remains the low, at least for now. I'm on the sidelines unless we get above 1428.

 

[mbusch]

Quote from apex82:

Quote from apex82:


Market has just hit 1428 as I am writing this... just 3 freaking points away from my 1425-1424 target that I have been looking for to exit more of my shorts posted the day before the selloff.

Profit on this exit will be approximately 125 points profit(per contract) traded with a 2 point stop..... one of the best trades I have ever made in terms of R:R and patience. You can never be to greedy when you know your right.

After this will still be holding a small piece for 1400 and last but not least 1345.

With ya on that mbusch just exited at 1425.75-1426 for a massive gain Champagne is on me!

I may just take you up on that. "Massive gain" qualifies as the understatement of the month. 125 ES points is the stuff wet dreams are made of.

As always, Apex, you da man, and we're not worthy!

 

[mbusch]

'Nother quick scalp in AH:
Short 1428.25 at 00:46am ET.
Covered 1425.75 for +2.5 at 2am ET.

Wow, someone just moved a block of 500 contracts at 1425.00 at 2:09am ET! Pretty unusual size for AH.

Dollars to doughnuts we're headed still lower...

EDIT: Sure enough. At 02:16am ET, finally hit 1424.00, the top of Apex's ciritical support zone (24-22), and bounced off. If we get a reversal bar on the 15-minute chart, I might be a buyer here.

EDIT: 15min reversal bar is in at 02:31am ET.

 

[apex82]

07-20-07 08:58 AM
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Quote from apex82:

look out below just added my bearish position when 1555 didnt hold This could be the top and I am playing it as such. I will cover if it get back above 1555 until then 10% correction...
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07-20-07 08:59 AM
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Quote from apex82:

looking for 1425 on the ES futures as my first target

yes... that is over 100 points





Sorry.... I just had to see it for my own eyes... just stoked on the trade.

Watch the rally now....... I am telling you this is a strong support zone on YM and ES. If they hold it for the morning session look to buy pullbacks. Great place to be sitting on hands waiting for an entry to the long side tomorrow. Of course there is no guarantee, but this is a strong, meaningful zone and warrants a large move so there is no point in being a hero trying to scalp off of it. I personally am wary of it holding due to the market nature right now. These patterns warrant large corrections and dont care about support on the way down. Tomorrow will be very interesting. Any breakdown below the zone(has to be meaningful 3-5 points with time as well) remember this aint no 1 min sr level, its coming off the daily.... watch for a role reversal down to 1400. If they hold it for the morning or it holds on a retest watch for an EXPLOSION up to 1450 minimum and eventually more like 1500.

 

[mbusch]

Quote from mbusch:

Sure enough. At 02:16am ET, finally hit 1424.00, the top of Apex's ciritical support zone (24-22), and bounced off. If we get a reversal bar on the 15-minute chart, I might be a buyer here.

EDIT: 15min reversal bar is in at 02:31am ET.

At 02:41am ET, filled long from 1425.25 w/6-point stop. Going to bed...not staying up for the 3am fireworks...que sera sera.

See y'all in the morning. Good trading.

 

[just21]

How is the 1422-24 support level calculated?

 

[tommymoose]

Quote from mbusch:

At 02:41am ET, filled long from 1425.25 w/6-point stop. Going to bed...not staying up for the 3am fireworks...que sera sera.

See y'all in the morning. Good trading.

Yawn, morning all. I see this level held overnight, so I'm in at 1425. Stop in at 1523.50.