ES Journal Archive (2006 - 2008)

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Globex S1 held, with 5-min reversal.. stop untouched by 2 ticks - for now.

EDIT: the 1328.00 long goes to overnight hold.. stop remains at 1324.25 (-3.75pts).
 
02-05-08 02:29 PM

Long signal will most likely occur under 1330.
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damn...
 
ImO no true long for setting up longer term position exists as daily does need tp show that there is strength, right now I see histo on daily declining towards centreline which is not a bullish sign, it would have to rise from below towards it, as it is now it may well be interpreted as a weakening p/a.

Secondly this decline started with 2nd lower peak on daily histo, same happened back in Feb 07, I believe same but vice versa has to happen below the centreline to consider it a real buying opportunity, these double/triple peaks & troughs are probably the easiest of patterns to spot also.

1314 50% fibs & 1310 next obvious support
 
Quote from JSSPMK:

ImO no true long for setting up longer term position exists as daily does need tp show that there is strength, right now I see histo on daily declining towards centreline which is not a bullish sign, it would have to rise from below towards it, as it is now it may well be interpreted as a weakening p/a.

Secondly this decline started with 2nd lower peak on daily histo, same happened back in Feb 07, I believe same but vice versa has to happen below the centreline to consider it a real buying opportunity, these double/triple peaks & troughs are probably the easiest of patterns to spot also.

1314 50% fibs & 1310 next obvious support [/QUOTE

chart please.:)
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