ES Journal Archive (2006 - 2008)

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Quote from callmate:

What was your reason for shorting, the price is very unpredictable in globex, it can move up and down with very low volume. Just curious as I am in Europe and watching the market but wouldn't dare trade it for the reasons outlined above.:D
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3 am reversal perhaps ?
 
Quote from Spectre2007:

basically the 'A' pattern doesn't start till we test 1380-1400 zone...
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inetersting because my current option analysis shows cash falling to 1370-1400 from this level.
 
0830 Oct Housing Starts
Total Starts 1.19M
Starts Percent Change -10.2%
0855 Nov 17 Redbook Retail Sales Index
Johnson Redbook Index -0.3%
1400 Oct 31 FOMC minutes
 
Quote from apex82:

Well I gave up fundamentals long time ago... never could make any money using them as info. In runaway markets, like the euro right now... at some point they become to over crowded and you end up getting everyone trying to exit the door at the same time which creates panic. However, the fx markets trend a lot more so you have to be very careful trading tops in those markets.

If there is very clear PA you can get a probability of this panic psychology playing out and it leads to a very large R:R trade.

Basically the premise is 2 overlapping 5 wave moves on high time frames as well as a couple other projections. When you get this kind of confluence its best to get out and wait to see if its going to blow through the level or if not... reverse and ride it down because these moves are explosive.

Here is a visual of the Resistance zones. The first one has more confluence but in runaway markets they tend to go to the furthest point.
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Thanks for taking the time to go through that....as usual, true to form for your style of trading and exactly according to the trading plan. I appreciate the detail you go into with your explanations and the charts you post!

And since its Thanksgiving time, I'll be the first to give thanks to all of you in the ES Journal that regularly post your charts, analysis, and thought process, especially Buy1Sell2, Apex82, Spooz Top, Mbusch, Spectre2007, smilingsynic, Anekdoten, Avarus, Mins, JSSPMK, vertigo3, kinggypo, volente00.
 
Quote from mbusch:

Out at 1442.25 for +8.5. Going to bed.

Apex, *now* you can go long. :D
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ouch! All I wanted was a couple point scalp... I should have known better :)

nice trade
 
looking to play the long side today if 1435 pivot holds... low risk entries and holding runners. I am hanging up my bear costume for a bit...
 
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