ES Journal Archive (2006 - 2008)

[tomahawk]

Anyone else looking for 25.00-27.50 if we break 34.00? .. 62 % from Friday and rule of 30

(Note: so far strong support at 50%, HOD -20)

 

[brightstone]

Quote from mbusch:

Nice call!

Thank you! It was good for 5 points,
waiting for the ride down again and will re-enter Long when I have a grail on the 15 min RSI in oversold condition......

 

[JSSPMK]

Buy1Sell2, daily histogram looks promissing, reversal?

 

[brightstone]

Quote from brightstone:

Thank you! It was good for 5 points,
waiting for the ride down again and will re-enter Long when I have a grail on the 15 min RSI in oversold condition......

Will hold until 1442.

if breaks 1443 add on long....

Edit
Price action shows no commitment
closing both at 44.25

probably done for day unless breaks over 1446 with volume

 

[mbusch]

Retest of resistance zone at 1448-50. A reversal here could be a great short into the close.

 

[brightstone]

entered at 46 PT 55
if it can't break through 52 might reverse position.

depends what I see.
Price action is clawing its way up. 49 is my first line in sand.

 

[JimmyJam]

Quote from 4re:

Hey JJ,
How you been doing lately? Just wanted to point out that the formation you outlined on this chart is a descending triangle. It should break to the horizontal. FWIW.

Take care,
Gary

My bad ... I was looking for support.

Once failed support (which became resistance) is broken, I'm looking for 1460 ... but even if it doesn't, I'm good.

Good trading,

JJ

 

[mbusch]

Quote from mbusch:

Retest of resistance zone at 1448-50. A reversal here could be a great short into the close.

Top of the zone. This is the decision point. Waiting for confirmation or non-confirmation...

EDIT: That looked like a pretty decisive penetration to the upside! I'm shifting my bias to the long side, and would be inclined to be a buyer on pullbacks now.

 

[brightstone]

Quote from brightstone:

entered at 46 PT 55
if it can't break through 52 might reverse position.

depends what I see.
Price action is clawing its way up. 49 is my first line in sand.

looks like it is ready for a pull back, possibility of one more push to 55.

don't play after 3:30 very often but considerng holding on if it breaks through 56.

 

[Spectre2007]

see what I mean about MM's buying discounts for a anticipated cut.