ES Journal Archive (2006 - 2008)

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Zero-sum game, indeed! :)

EDIT: Congestion here between 1550.25 and 1551.25. Which way it breaks from here will tell the tale. I remain long, but won't be confident until we break decisively above 1552.

EDIT: I'm feeling better about this. :)
 
Quote from Anekdoten:

W formation around the 1550 area on ES.

That was not just coincidence now right? :)

Anek
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Is what you call a "W formation" the same as a "double bottom"?
 
Quote from mbusch:

Is what you call a "W formation" the same as a "double bottom"?
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Ya they are very similar but the W bottom usually has different swing lows, like the one today on the ES.

When it forms follow the TL, scale out and when the TL breaks, get out.

Anek
 
My long from 1549.00 just hit my trailing stop at 1551.25 for +2.25. So far, I'm +4.50 on the day.

JSSPMK, nice call on the "possible short here"! Curious what you saw?
 
I am hopeful that my demonstration here of adding positions as not being the proper method has not been lost. Notice how my additions to the original ES position have resulted in an average entry price that is 6 to 7 points higher than if I had put all 8 units on at once initially at 1537.75. Meanwhile I have my full NQ position on at 2026.75:)

There will be no more additions to the ES position, I will hold long here due to the fact that I have a large enough position on between the NQ and the ES. Holding long for now. :)

I believe there is better than even possibility of a fairly decent upmove today
 
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