ES Journal Archive (2006 - 2008)

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Quote from Spectre2007:

wheat is creating a wedge compression... against a ceiling...

lots of buy stops clustered at the magic 10.00...
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It's wheat, it will do whatever the hell it pleases whenever the hell it pleases.
 
Hi Apex82

since touched on commodities tonight ..what is your outlook on your corn trade ? more videos on ES,currencies etc ?
Thanks and continued success
 
Quote from Optionpro007:

imo the angle of the uptrend (too steep) and fundamental conditions support higher prices for the forseeable future.

Gold can run through divergences like nothing else...

:)
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Should have added, that many people will trade that formation as a classic divergence. If it fails as most of these type of divergences against strong trends do, all these traders will have to cover at the same time, pushing price hard with the prevailing trend. Taking a long where you would put your stop if you were playing the retrace should take care of this...:)
 
Quote from Optionpro007:

imo the angle of the uptrend (too steep) and fundamental conditions support higher prices for the forseeable future.

Gold can run through divergences like nothing else...

:)
More...

ImO the steeper the angle creating a divergence the more reliable the expectancy of a retrace. Of course I also understand the part regarding divergence based trading vs predominant trend. I just think IF price has put in a nice run and there is a valid reason for a trade then the risk is a lot smaller than a potential gain making it more enticing for others to participate in a short.
 
Quote from Spooz Top:

yup...40 was the first target to the tic..........gap up tomorrow would`nt surprise me in the least.
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5 handles to the better so far.

8:30 durable goods

10:00 consumer confidence
 
A short below today's low and especially below yesterday's low looks very inviting. I'll make a swing trade at both places with you guys there. :)
 
Quote from Buy1Sell2:

A short below today's low and especially below yesterday's low looks very inviting. I'll make a swing trade at both places with you guys there. :)
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shorts like to put on their positions at obvious places which is why they always get burned.

like all those people who shorted yesterday right after 10AM, those shorts are 40+ points underwater right now.

hopefully we will have another rally today and squeeze them even more.

blackguard
 
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