ES Journal Archive (2006 - 2008)

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Have not studied ES but on the NQ there is a potential Dragon formation that could very well start developing if that trendline gives in and price holds and breaks out.

The dragon pattern is notorious for creating a massive reversal formation and it is extremely reliable as it is based on a W bottom that formed after a diagonal down move.

At this point it is incomplete but if bearish in your swings I would pay close attention to that Trendline.

Off to vacation with the family.

Good luck to all and keep the good spirit.

Anek
 

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Just to find out whether this IHS means anything, took a little just-for-fun flyer in AH: one ES contract long at 1456.50. Set a 3-point trailing sell-stop, and a sell limit order at 1463.75 (+7.25). Last paint 1459.50 (+3) , which took the trailing stop up to breakeven. 3am fireworks still an hour away as I type this. I'm headed for some sack time, so the trade is on autopilot and que sera sera. :)
 
Quote from mbusch:

Just to find out whether this IHS means anything, took a little just-for-fun flyer in AH: one ES contract long at 1456.50. Set a 3-point trailing sell-stop, and a sell limit order at 1463.75 (+7.25). Last paint 1459.50 (+3) , which took the trailing stop up to breakeven. 3am fireworks still an hour away as I type this. I'm headed for some sack time, so the trade is on autopilot and que sera sera. :)
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Price reachd 1460.50, then retreated just enough to tag my trailing stop at 1457.50 (+1), then proceeded north again without me to a last paint of 1462.25 (+5.75).

So not only do I get to learn that 3 handles is too close for an AH trailing stop, but I get paid $50 for the trouble.
<img src="http://www.ProfessionalAnimations.com/GAImage/Animations/Animals/fish/shark.gif" width="854" height="76" border="0" alt="It's us vs. them..."/>
 
Quote from mbusch:

Price reachd 1460.50, then retreated just enough to tag my trailing stop at 1457.50 (+1), then proceeded north again without me to a last paint of 1462.25 (+5.75).
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Glutton for punishment: Back in long for one contract at 1459.50 as it pulled back to kiss my uptrend line. Fixed stop this time. PT limit order still at 1463.75 (+4.25 from re-entry). Back to bed.
 
Quote from mbusch:

Back in long for one contract at 1459.50 as it pulled back to kiss my uptrend line. Fixed stop this time.
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Out at 1461.50 for +2. Total of +3 in AH. Now flat.
 
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