ES Journal Archive (2006 - 2008)

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Long from 1515.25, 1 point stop. First target 1517.50. Scalp trade.

EDIT: Well that was a bad idea. Stopped out for -1. Gonna leave it alone for awhile.
 
Quote from apex82:

while we wait... I will expand a bit on that housing stock post. Here is a chart of KBH... it hit massive support.. 3 overlapping 5 wave moves.. the strongest pattern in this business when everything lines up right IMO. It is at a deciscion point right now. It will most likely retest the lows at the first resistance shown however these patterns produce explosions so targets are $45 and 70$ from this zone... almost triple the price.
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Charts for KBH, HOV and TOL sure look like a Wyckoff spring. TOL looks like it has completed its "jump across the river" but KBH and HOV have not. CFC looks different than the other three, not so clear whether it's turning.

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1710047 width=700>

Click on link below for full-size chart.
 

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all days are same..nq...buy dips sell rallies....fomc is no different...except at announcement time you should understand playing with no stops there is dangerous for your account. your finger ain't that quick. the smart guys give it a few bars wipe big bars away and off the chart and continue as normal.....just as before announcement....
 
Quote from mbusch:

Charts for KBH, HOV and TOL sure look like a Wyckoff spring. TOL looks like it has completed its "jump across the river" but KBH and HOV have not. CFC looks different than the other three, not so clear whether it's turning.

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1710047 width=700>

Click on link below for full-size chart.
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Nice charts, can you comment on the "jump across the river" from Wyckoff, is that refering to consolidation?
 
Quote from avarus:

Still on target. 3pt stop kept you in the trade. trail stop above 21.
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I'm long from 1516.75. Took a piece off at 1517.75 but letting the rest ride, target low 20s.
 
Somebody on another thread was talking about a long straddle (buy call, buy put). This can be a profitable trade if you know when to chop a leg. Good trading. :)

Edit: I should say on fed day where there is heightened volatility.
 
Quote from mbusch:

I'm long from 1516.75. Took a piece off at 1517.75 but letting the rest ride, target low 20s.
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Damn, that spike just tagged my trailing stop, out at 1518.75. Thought it was out of the noise, but guess not. (On the telephone, not paying attention.) +1 and +2 on this trade.
 
Quote from kinggyppo:

Somebody on another thread was talking about a long straddle (buy call, buy put). This can be a profitable trade if you know when to chop a leg. Good trading. :)

Edit: I should say on fed day where there is heightened volatility.
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someone is reading my mind, nice arb.
 
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