ES Journal Archive (2006 - 2008)

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That was easy long at the end of the day. The sellers could not break 67 and buyers stepped in.

Nice scalp to end the day right there.

All out at 70.25 - done for the day. Great day to finish the week - good weekend to all.
 

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Quote from Mins:

That was easy long at the end of the day. The sellers could not break 67 and buyers stepped in.

Nice scalp to end the day right there.

All out at 70.25 - done for the day. Great day to finish the week - good weekend to all.
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LOL, that was the 5th or 6th easy Long. :D

Good trading,

JJ
 
i was thinking that channel was wave 5

Quote from Mins:

Hmm could you post a chart please.
The channel we have been in since the FED cut is part of my wave 3. That also has a wave count but i not really interested in that.

Others might see something else as its so subjective.
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Quote from JimmyJam:

LOL, that was the 5th or 6th easy Long. :D

Good trading,

JJ
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Yeah i wish i played long side more today but i can't complain - rectangle formation is easy pickings imo. Made most of my $$$ from the short side today, wish i had gone long on the open however.

Good trading to you to sir.
 
Quote from elovemer:

i was thinking that channel was wave 5
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No way no imo - but everyone has a subjective view of this.

I believe we had the ABC retrace from the July highs to the august lows. Then we had the blast off and formed wave 2 on the 50% retrace in september. Then the rest has been a massive rise also my wave 3 which is often the most powerful wave. Im using the daily chart for my analysis.

I have no wave 4 as im not seeing the retrace of the 50% from the fed cut as a wave 4 down.

Expecting a wave 4 down to 1525-30 region would be nice and then powerful move to 1650-70.

It all subjective however and this analysis is continually changing. The 1650 target would tie in nicely with the head and shoulders bottom in July to September with a target of 1650-70.

But like i said i don't pay to much attention to elliot wave now as i find it does not give me as a daytrader great entry points. All my entry points are completely discretional.

Good trading Elovemer.
 
Just looking at the days action here. Nice bounce, although I would think we would need a bit more of a base on intraday charts for it to have more legs. Of course, as usual I am staying long. We may have a slow day Monday and then an upward movement Tuesday, but it really doesn't mater what day as long as we don't crash-- I have no idea what day or what hour things will happen, I just want to be in the market on the right of the trend. Divergences and grails give me a clue as to general entry. Talk to everyone on Monday--
:)
 
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