ES Journal Archive (2006 - 2008)

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Quote from Spectre2007:

nice symmetry on 5 minute... using my laptop at the moment at the coffee shop. Can't post charts.
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Yeah, looks like we're coiling...beware of the false breakout in this market and a reversal rip out the other side.
 
Question on trade exits. I see a lot of people here using Profit Targets in their trading plan - just looking for information here, not a debate on the merits of scaling out.

What do you see as the specific meaning of your profit target levels - are you expecting to hit resistance/support levels at each profit target? Are they swing hi/lo points? Are they prior day/week etc hi/los etc etc? I'm curious as to what everyone feels the significance of each profit target number is in their plan, and what its telling you that has you exiting contracts at those levels as opposed to holding on. Or is it psychological need to lock in winners as the trade goes in your favor etc.

Any and all input is appreciated.
 
Quote from Spectre2007:

nice symmetry on 5 minute... using my laptop at the moment at the coffee shop. Can't post charts.
More...
Spec, when you say "nice symmetry," you mean as in H&S?
 
price action whale is buying up .. all these.. from stop breaks.

usdjpy still holding up...arb between ES/yen.. here..someone is going to swing one or the other to meet back to relationship.
 
Quote from MiniDowTrader:

Yeah, looks like we're coiling...beware of the false breakout in this market and a reversal rip out the other side.
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Oh yeah, and there's always the complete breakdown option! :eek:
 
Quote from Spectre2007:

price action whale is buying up .. all these.. from stop breaks.

usdjpy still holding up...arb between ES/yen.. here..someone is going to swing one or the other to meet back to relationship.
More...

....woohooo.. bought the break 57's unloaded 59's..
 
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