ES Journal Archive (2006 - 2008)

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Quote from tommymoose:

I'm seeing very strong resistance at 1484.75 - 1485.25 on the SPX cash.... so like 1486.75 - 1487.25 on ES....

We've got the 50-day MA (and bouncing off the MA's has been the game for quite a while now)... we've got the 61.8% retracement from July hi's to August lo's (which isn't quite as strong of a zone since its already travelled through this level, but hell, its still on my chart), and we've also got the 78.6% retracement from 9/4 hi's to 9/10 lo's.

Thats synergy... or as apex would call it "an area of confluence" haha. I can't trade in front of my computer during the day, but I'll still be taking a stab at this trade by entering my order in the morning. If it gets there it gets there, if not, no trade, whatever...

Short Order @ 1486.25
Stop @ 1487.75
Target to be decided.... 1470 maybe
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Good luck, I remember last time you posted one of these it came just short of filling before a 60+ rip.


I would like to see us fill the gap at 78.5 on cash before a decent pullback but not sure if we make it there.
 
Quote from volente_00:

Good luck, I remember last time you posted one of these it came just short of filling before a 60+ rip.


I would like to see us fill the gap at 78.5 on cash before a decent pullback but not sure if we make it there.
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Thanks, I've planned and executed a few of these "set it and forget it" (:p ) trades before and they work around 50% of the time they're actually entered for at least 10 points with a ~2 point stop.... so thats a pretty positive expectancy IMO. I just cant wait to get time back at the screen to combine the levels with reading the price action for my trades (although who knows, that may mess with my head).

A similar situation as last time could happen this time with price reversing at 1481-1482 to complete a head and shoulders pattern. Like I said last time though, I'm only trying to pick the extreme to within a couple points to keep the R/R good, so I don't have the luxury to take a short there. I also see 83.75 as a very possible place it turns around because of a couple previous highs over the past few weeks.

Damn I just wish I could sit at the computer and wait for the volume spike and selling tail to pull the trigger in that 82-86 zone... oh well :)
 
Quote from volente_00:

long at 70.75


stop 68.5


target 73.75
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I dunno what it is, but the chart doesn't look all that bullish in my eyes. Call it my sixth, albeit misplaced, sense. ES currently sitting comfy at 7125 and apparently broke the trendline. The near target is at 6925. Just my opinion, of course. :)
 
Quote from saliva:

I dunno what it is, but the chart doesn't look all that bullish in my eyes. Call it my sixth, albeit misplaced, sense. ES currently sitting comfy at 7125 and apparently broke the trendline. The near target is at 6925. Just my opinion, of course. :)
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fridays retail sales, watch for significant downdraft...to 55-58 zone....
 
Quote from Spectre2007:

fridays retail sales, watch for significant downdraft...to 55-58 zone....
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I've recently taken for my motto the old and yet useless adage, "anything goes!"
 
My bias is towards 1420 on ES within a week or two. Have a small ES position looking to ride to those lows. If not, well will get stopped out on another large day like today...
 
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