ES Journal Archive (2006 - 2008)

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Quote from apex82:

we broke the zone... look out fn below!

we just hit 1445 my main target but just going to trail with a 15 min bar stop... hoping for a 50 pt drop...

edit:stop now moved to 1452..

locking in 20pts
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giving the 15min bar 2 ticks above the prior bar high

so stop would be at 1452.25

covering some equities into this panic that I went short last friday on this journal.
 
next move probably back up to 1470's from here...

but like I have been stating since last friday.. this market looks very vulnerable to a crash
 
Quote from apex82:

next move probably back up to 1470's from here...but like I have been stating since last friday.. this market looks very vulnerable to a crash
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Although my intermediate term bias is extremely bearish, I'm seeing a bullish wedge on the 15-minute ES chart that suggests a major upside breakout, either now or soon. Couple that with a big hammer on the 60-min chart and I'm inclined to be long from here.

Missed this morning's downmove because my internet connection has been down for 8 hours...arggghhh! However, my swing positions in SDS and QID did very nicely, and I'm looking to close them out here and turn temporarily bullish.

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1718823 width=700>
 

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Quote from mbusch:

Although my intermediate term bias is extremely bearish, I'm seeing a bullish wedge on the 15-minute ES chart that suggests a major upside breakout, either now or soon. Couple that with a big hammer on the 60-min chart and I'm inclined to be long from here.

Missed this morning's downmove because my internet connection has been down for 8 hours...arggghhh! However, my swing positions in SDS and QID did very nicely, and I'm looking to close them out here and turn temporarily bullish.

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1718823 width=700>
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yep.. I hear ya...
 
will be watching 1469 area carefully to reenter short for another drop.. However, will most likely pass and wait for the gap to fill and look to get short around 1477. Will definately wait for confirmation on this short... higher level and minimum target would be another 20 pts.
 
Quote from apex82:

will be watching 1469 area carefully to reenter short for another drop.. However, will most likely pass and wait for the gap to fill and look to get short around 1477. Will definately wait for confirmation on this short... higher level and minimum target would be another 20 pts.
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Yes indeed, 1469 is the top of the descending wedge. When it gets there, it's possible it may break out to the upside, or alternatively do one more coast-to-coast across the wedge before breaking out.

However, if/when it does break out of the wedge to the upside, I'd expect it to go a lot higher than 1477. The 1500-1510 area seems doable.
 
this market is getting overbought.. stops starting to come below the market... want one last push to 1468-1469.. and then will look to short.
 
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