ES Journal Archive (2006 - 2008)

[Winston]

Quote from vertigo3:

Friday I posted what looked like a Head and SHoulders in the 240 minute chart,
here's the same chart, measured move complete as the recent swing low was 1440.75, right in the ball park of a 1440 measured move target.

Only a H&S if corresponding volume is high on the left side of each shoulder and head formation. See Edwards& Magee.

 

[JimmyJam]

Quote from JimmyJam:

Market will probably find support here and trade back up to the 1450's.

Good trading,

JJ

If you're still long, it's time to start looking for the EXIT sign.

JJ

 

[JSSPMK]

Staying long, been stopped out enough times today, not that it makes any difference to stay or not to stay long.

 

[HolyGrail]

We should make it to 1451, but I got flat at 48.50.

 

[HolyGrail]

short at 46

 

[smilingsynic]

So far this bounce looks pretty anemic. In daytrading, I would want to see more evidence of accumulation here before buying. Until then, there is resistance at 49 and 53.75.

 

[tommymoose]

I see 1454-1455 as resistance for an equal length move setup repeating fridays action. We've already had the ~24 point decline repeated, lets see if she turns after a similar 14 point rebound.

 

[JimmyJam]

Wow, that was one helluva recovery!

I don't think it's going to last. I think the lowest will be revisted, but the market most definitely does look like it's bottoming.

JJ

P.S. It's probably days like this that make Saxon22 believe that he has a viable system, er ... not that he doesn't!

 

[Spooz Top]

lookiing to remain long here into the close.....EOD hold....stop just below last active lo.

 

[HolyGrail]

Quote from tommymoose:

I see 1454-1455 as resistance for an equal length move setup repeating fridays action. We've already had the ~24 point decline repeated, lets see if she turns after a similar 14 point rebound.

So do I