ES Journal Archive (2006 - 2008)

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I'm thinking they are just trying to get the weak longs out before they take it to 1504.50 after lunch. Of course if I am wrong I will lose between 2 and 3 points per contract, but I've decided to quit scalping and look for longer high probability intra-day moves. Everything is go for an up move on the daily, 15 min, and 3 min charts.
 
You could be right. I just did not feel the morning action to be so super bullish, and suspect that we will zig zag or go down in the hours to come. Just mho. :D
 
Quote from Spectre2007:

probability sheet

I have templates of this sheet I use for trades:

1) is price above or below open
2) is price above yesterdays high or yesterdays low
3) is price near weekly, monthly high or low
4) is price above or below MA's
5) is direction of MA's up or down
6) 60 minute trend up or down (MA's dir good enough) Linear regression on 60 minute bars.
7) last trade bias win or loose. (long or short) which made money.
8) report day?
9) other correlated markets same direction


its very hard for MM's or for the market to take money away from you...if you use probability factors in your trading.
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divergence...from strong daily momentum.
 
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