ES Journal Archive (2006 - 2008)

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Carefull going counter-trend into the close.

Many a trader has had their head handed to them trading counter-trend in the last hour.

Personally I shut her down -- after the down/up wildness ended on the ZB.
 
Should I post an islands type comment?

Any longs out there still standing? sorry in advance as it is quite tempting

I actually thought we were going to break the 1545 resistance (hence why I didn't make the short trade at 1542 last night as I had been doing the last week or so)

I finally made the short earlier as posted, but I exited too early... but happy that I ended the day with a profit after getting beat up on the long side this morning (which I didn't post).
 
Quote from JimmyJam:

The market always has a direction, you just have to learn to see it. Even at choppy periods like right now, it still has a direction.

In some ways he was a trash-talker, but in others Progie was absolutely dead on the money.

My bias is Short, FWIW.

Short ES @ 1538.75 (current price 1539.50).

Good trading,

JJ

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Out at 1535.25

Entered early but held through the (obvious in hindsight) head fake ... if anyone is using anything outside the current intra-day framework to determine the intra-day trend, well, that's like looking backwards to see the future.

Not a good idea IMHO.

Good trading,

J Jam
 
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