ES Journal Archive (2006 - 2008)

[Mins]

Quote from mbusch:

Thanks for the chart Mbusch, im seeing a 5 wave decline with a bounce form the low 40s.

Will be expecting retrace to atleast 1470 next couple of days, with 1450 being a good long entry based on a reversal bar and bullish conditions remaining. This would be an ideal scenario with a breakout from the channel and could make a minor ABC retrace.

However, like you said the channel is still in-tact, therefore im sitting on sidelines until i can get a clearer picture of what unfolds.


On a side note - im still a newbie but can someone please explain the Bid size yesterday. During the whole day i noticed some extremely high Bid size during the decline - is this the big boys accumulating expecting some sort of move to the upside next couple of days?? Some help would be much appreciated.

 

[volente_00]

Quote from elovemer:

....yesterday was there any trade that would have been less risky than the short at 65 before the fall ?
...... it was 50% retracement of the previous drop and it had a very strong negative divergence on the 15 min chart....

And how close was it to a rule of 10 ?

 

[volente_00]

Quote from Mins:

Quote from mbusch:

Thanks for the chart Mbusch, im seeing a 5 wave decline with a bounce form the low 40s.

Will be expecting retrace to atleast 1470 next couple of days, with 1450 being a good long entry based on a reversal bar and bullish conditions remaining. This would be an ideal scenario with a breakout from the channel and could make a minor ABC retrace.

However, like you said the channel is still in-tact, therefore im sitting on sidelines until i can get a clearer picture of what unfolds.


On a side note - im still a newbie but can someone please explain the Bid size yesterday. During the whole day i noticed some extremely high Bid size during the decline - is this the big boys accumulating expecting some sort of move to the upside next couple of days?? Some help would be much appreciated.

The games on the dom are not very important, watch the time and sales to see if the bids or asks are being hit into the current direction and what kind of size is going off.

 

[elovemer]

.....as well.....
so was there a less risky play ?

Quote from volente_00:

And how close was it to a rule of 10 ?

 

[kinggyppo]

long here with 5 point stop. Looks like back and fill today.

 

[saxon22]

Seems like we might get a sentimental fuel to bid up the markets today.

 

[elovemer]

... i am seeing the end of a 3 wave decline.... beginning of 5th wave up....
.....which... if it is... would bring us to at least 1500....
...looking at 120min chart

Quote from Mins:

Quote from mbusch:

Thanks for the chart Mbusch, im seeing a 5 wave decline with a bounce form the low 40s.

 

[Spectre2007]

1455 if it fails here then 1445

 

[Mins]

Quote from elovemer:

... i am seeing the end of a 3 wave decline.... beginning of 5th wave up....
.....which... if it is... would bring us to at least 1500....
...looking at 120min chart

I always include overnight action into my Wave predictions. Still it was a minor 5 wave correction on 88min chart.

 

[Spectre2007]

hang seng closed negative, implies closing negative for us markets.