ES Journal Archive (2006 - 2008)
- Thread starter Buy1Sell2
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I've never really traded this setup, but I'm interested to see how it'll work out.... Gartley pattern showing 1392.25-1393.25 as a good sell zone -
What I see:
1. Attempt to breach overnight high barely failed.
2. Since that failure, the market has been in congestion; in TA lingo, the ES has become one giant triangle.
3. No intraday positions until I see what happens at 88.75 or 80.50, whatever comes first.
4. Wish I had traded crude today.
1. Attempt to breach overnight high barely failed.
2. Since that failure, the market has been in congestion; in TA lingo, the ES has become one giant triangle.
3. No intraday positions until I see what happens at 88.75 or 80.50, whatever comes first.
4. Wish I had traded crude today.
Quote from BigBubba:
Tommy, i'm curious, did you manually determine the setups projected trigger point? i have a nice gartley indicator for TS, and i can kinda see 'em coming, but i never knew how to actually measure 1 - esp in advance.
thanks
oh, and yes - i can see what you see - we'll see
Yeah, I manually plotted the level. I don't have any automated programs that do that kind of thing but that sounds nice. I was following the guidelines here- http://www.harmonictrader.com/price_patternsgartley.htm
Key points being the first retrace must be a 61.8% of the wave down and the second retrace must be 78.6% of the wave down. Then theres the 27.64% extension of the first retrace. It also must be a measured move AB=CD, so thats where the green projection I have is from... thats at least how I'm interpreting the setup.
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