ES Journal Archive (2006 - 2008)
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I'll be looking to buy high 40's if they're gifted to us sometime in globex tonight 
....one interesting thing i noticed today is that despite the drop ...
...trin was high .... and vix was net down
....also... daily stoch was very oversold tho we had not retreated that much since the high
....maybe signaling the recovery
...got in long but missed the 36 entry after signal was at 34
... i failed to take advantage of the break from rising wedge on daily chart.... which heralded the move to 35.25 .....will never forget this pattern
.... if we continue up from here ... the daily won't look quite so bad anymore ...... 52.50 puts us above the trendline i had drawn prior to the drop ... when hoping for an hourly change of trend to bullish
.... if we can stay above that trendline .... then i am changing to long bias.... i had been bearish because of the rising wedge and the diamond top and potential all-time double top
...next obstacle is to bust the diamond top ...... otherwise have to figure out where to get short
..... also need to break out of the down channel on daily
..... if this is a bull trend now.... the potential exists for an IHS to form with right shldr filling in the 50s-60s.... like the one that bottomed at 1453.50 on a similar flash drop/recovery
.....spooz.... what would be considered a negation of the diamond top (bottom at 56) ?
...thanks...
...respect...noob here
...trin was high .... and vix was net down
....also... daily stoch was very oversold tho we had not retreated that much since the high
....maybe signaling the recovery
...got in long but missed the 36 entry after signal was at 34
... i failed to take advantage of the break from rising wedge on daily chart.... which heralded the move to 35.25 .....will never forget this pattern
.... if we continue up from here ... the daily won't look quite so bad anymore ...... 52.50 puts us above the trendline i had drawn prior to the drop ... when hoping for an hourly change of trend to bullish
.... if we can stay above that trendline .... then i am changing to long bias.... i had been bearish because of the rising wedge and the diamond top and potential all-time double top
...next obstacle is to bust the diamond top ...... otherwise have to figure out where to get short
..... also need to break out of the down channel on daily
..... if this is a bull trend now.... the potential exists for an IHS to form with right shldr filling in the 50s-60s.... like the one that bottomed at 1453.50 on a similar flash drop/recovery
.....spooz.... what would be considered a negation of the diamond top (bottom at 56) ?
...thanks...
...respect...noob here
Quote from JimmyJam:
Now, back to the trading, Pekelo, how do you know the chart is going to reverse before it does?
One word: experience.
To elaborate further, the general idea here is that the daily chart behaves exactly the same way as a 5 or a 15 mins chart. One difference is that sometimes the whole action plays out in one day (one candle) like today, instead of several candles as I expected (I was waiting for this big down tomorrow or by Friday) and as it would in a 5 mins chart.
I will find what I said in the chatroom and copy here, because that explains it, and just to prove I said it way ahead before it happened....
Pekelo (Oct 17, 2007 10:55:18 AM)
by the way ADU time to go long
Pekelo (Oct 17, 2007 11:27:56 AM)
we still gonna have a high around noon, question is, how high
Pekelo (Oct 17, 2007 10:54:01 AM)
DB
Pekelo (Oct 17, 2007 11:03:17 AM)
1551 is rule of 10
Pekelo (Oct 17, 2007 12:44:36 PM)
DB
Pekelo (Oct 17, 2007 1:26:30 PM)
DB
Pekelo (Oct 17, 2007 1:27:49 PM)
not every DB plays out
Pekelo (Oct 17, 2007 1:36:53 PM)
so this DB is playing out nice
OK, I have found it, I said this live on Friday:
Pekelo (Oct 12, 2007 10:48:29 AM)
here is what happens at least on the cash chart: the candle goes below SMA 9 then comes back to it, then continues going lower
And again yesterday:
Pekelo (Oct 16, 2007 9:46:23 AM)
hey here is what I expect on a daily base:
look up Oct 4th 5 min chart
after the morning trend up it came back to the SMA bounced up
then went below it, and bounced up to it
then further down
---------------------
So as you see it the daily chart so far has behaved exactly the same way as the 5 min chart on Oct 4th. I just picked that day because it had a rally in the morning and this was the move (quite typical) after a trend...
Pekelo (Oct 12, 2007 10:48:29 AM)
here is what happens at least on the cash chart: the candle goes below SMA 9 then comes back to it, then continues going lower
And again yesterday:
Pekelo (Oct 16, 2007 9:46:23 AM)
hey here is what I expect on a daily base:
look up Oct 4th 5 min chart
after the morning trend up it came back to the SMA bounced up
then went below it, and bounced up to it
then further down
---------------------
So as you see it the daily chart so far has behaved exactly the same way as the 5 min chart on Oct 4th. I just picked that day because it had a rally in the morning and this was the move (quite typical) after a trend...
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