ES Journal Archive (2006 - 2008)

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Quote from mbusch:

Yes. Those normally break to the upside (the horizontal side).

Just added on long at 1464.50. Missed my entry by a few ticks because I was preoccupied posting that chart. Gotta get my priorities straight. :)
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OK, TY! and GL! I noticed a declining histogram on 2 hour chart on the other hand. Anyway, all the best!

btw my 1/3 just got trail-stopped
 
Quote from opt789:

How many buy stops are placed just above 1475?
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Yeah, I'm counting on that! :) Hope we get there to find out.

BTW, for anyone who missed this move, the current pullback (65 area) might be a good place to jump in long. No warranty on this suggestion, however.

EDIT: YIKES! Hope nobody took that advice. I just got stopped out for -2.5, which wiped out my earlier profitable trade. That smarts. Quite unexpected. Some news event perhaps? Anyone know?
 
Next 5 minutes are crucial ImO, I track round hour bar closures, so 2 hour bar could close engulfing previous one

Yep, bearish engulfing close on 2 hour bar

Histogram at centreline on 2 hour chart, daily histogram below centreline
 
CNBC: Bear Stearns posted an $854 million loss for the quarter, its first deficit ever, as the investment bank took a beating on subprime mortgages.
 
higher level looks extremely bearish on er2 and es as well... big fakeout and will most likely send this market to new lows...

I hate chasing the short side here.... but its a higher probability


market will most likely range.. so probably no longer term entries today.
 
Now 5 min chart looks ready, C'MON!

About to pull the plug here, pattern still there though.

It does look very promising ImO, to be Long.
 
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