ES Journal Archive (2006 - 2008)
- Thread starter Buy1Sell2
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Out here at 1477.75 for +8.25. Bearish divergence on RSI and MACD historgram making me nervous.
I had a sell order in at 1480 and stupidly raised it to 1484 when we started running stops there. Got greedy. That's two! Dammit, self, stick to your plan!
I might just miss the last part of the move. For some reason, I'm feeling particularly risk-averse at the moment. Maybe it's just that T-bonds are falling back a bit...
fx is a larger market, though at times liquidity drops off, so yen would lead equities.
once a inflection occurs after a major loss of pippage, (bottom) usdjpy has a habit of gapping up and recovering lost ground.
it usually runs stops in 100 pip ranges.. so after 117 was made, it ran stops to 115 handle, and now looks to be progressing back up to reclaim the high and higher.
1494..
there is a 'price well' for yen at 116.60,
so inflows could pop the stops.
'price well' is similar to a 'gravity well' in astrophysics.
'gravity well' is implied from mental constructs of yen trading participants. Its a mental capture of price over past year, the mind tends to remember some numbers more then others.
there is a 'price well' for yen at 116.60,
so inflows could pop the stops.
'price well' is similar to a 'gravity well' in astrophysics.
'gravity well' is implied from mental constructs of yen trading participants. Its a mental capture of price over past year, the mind tends to remember some numbers more then others.
there is a incentive for asian funds to pop the stops, if they are positioned in asian equities, a better close of us friday session implies a better open for sunday night asian session. So, it could just be the samurai's....trying to paint a nice picture. And they have tons of money to work with, and it carries more weight on a low volume Friday..
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