ES Journal Archive (2006 - 2008)

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dumb question?
HolyGrail, when you use the term pivot, you are referring to price turning points on the chart?

I am assuming that you are not referring to trader's pivot points.

would you clarify?
 
Quote from HolyGrail:

Of course there are no guarantees, but normally when the second wave down exceeds the last pivot point you will get a full 100% retracement. It may take awhile, but it normally gets there. Now if it comes back and exceeds the previous pivot, then all bets are off.
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What kind of chart is that?
 
Quote from porkchop_001:

What kind of chart is that?
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It's metastock. The solid blue line was long term previous support. The dashed blue line is previous short term support. The red lines are resistance.

I have a program that automatically charts s/r so I don't have to constantly draw s/r lines and then erase them as they become unimportant.
 
Spectre, are you being serious about huge short position?
The reason I ask is I thought earlier today you were speculating that there could be a buying wave near the end of the day.

Thank you, HolyGrail
 
Time to start looking for longs...

long here at 1487.75
stop at 1485.50

target 1517

2.25 stop

25-30 pt target


Still short PXP and long nat gas
 
Quote from vertigo3:

Spectre, are you being serious about huge short position?
The reason I ask is I thought earlier today you were speculating that there could be a buying wave near the end of the day.

Thank you, HolyGrail
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the previous post to that about being naive to short.. will tell you.
 
This was my a great set-up, again i jumped the gun a little early but looking for nice reversion to the mean.

Got 3 in but 2 more were waiting to get filled. Target is 1490 on first unit and letting 2nd unit run.

Reversal bar was major confirmation at resistance zone for me. I also employ market profile and reversion to the mean is high probability.
 

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