ES Journal Archive (2006 - 2008)
- Thread starter Buy1Sell2
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lol i believe it says 5 min above
I went short at 61.50 with 55 as a target. I know the rule against late or back posting so I did not want to lay out the trade really but the chart pattern was so striking I had to take it..
tapped 1455 twice with no fills as it bounced off hard, so I chickened out and bailed at 1456.50 
For those who wonder what a text book evening star candlestick pattern looks like that was a perfect one at the 2:10, 2:15 and 2:20 bars on ES on 5 minute time frame. Would have liked higher volume on the long red bar moving lower but the take out of the lows of the previous bar was enough.
For those who wonder what a text book evening star candlestick pattern looks like that was a perfect one at the 2:10, 2:15 and 2:20 bars on ES on 5 minute time frame. Would have liked higher volume on the long red bar moving lower but the take out of the lows of the previous bar was enough.
does anyone see a head and shoulders on the ES from last july to present? looks like it's about to fail but i hate to wait till it hits the shoulder again, down around 1400, that's alot of missed short position.
I'm using a 5-8-13 bollinger on the 2 minute and getting killed after 2:00 here.
I basically only follow hammers dojis and the combo called evening star or morning star. I think you can find out about those online for fre if you google candlesticks and look for those patterns instead of getting a whole book on the subject.
Suri's new book also has a lot of patterns based off of candlesticks as well as price action which you can use either candles or bar but he mianly uses candles.
But for good books, Nisson I guess is the main author of candlestick books but I know there are two recent titles that focus on trading candlestick patterns which are more specific. I think Bigelow is one but I may be forgetting.
I think 2 or 3 patterns are good to know because they represent price action well (hammer or evening star) but the rest like 3 wise clouds or Praying Mantis taking a shit or some of the other wierd names get a little too far out there.
For example that evening star happens rarely so you do not get a lot of fake signals or churning and it helps to really look at why it works with respect to the price action.
Possible gartley pattern forming which is like the W so quite possible. Looks like it is trying to form point C before moving back higher
You could go long here at 1454 and look for 1465 as a target if it rallies. (Assuming it does not take out the low from the last drop earlier a move below that would stop you out.)
I will not take the trade though but will gloat if it turns out to be right lol...
You could go long here at 1454 and look for 1465 as a target if it rallies. (Assuming it does not take out the low from the last drop earlier a move below that would stop you out.)
I will not take the trade though but will gloat if it turns out to be right lol...
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