ES Journal Archive (2006 - 2008)
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jsspmk
I went short based on what i though was a cross going to happen 15m. (mid 80`s). It worked out but I was very surprise when you said you did not see anything negative.
Taking a trade before the cross is that too dangerous? Is that where I misread it?
tia
QUOTE]Quote from JSSPMK:
not ImO [/QUOTE]
I went short based on what i though was a cross going to happen 15m. (mid 80`s). It worked out but I was very surprise when you said you did not see anything negative.
Taking a trade before the cross is that too dangerous? Is that where I misread it?
tia
QUOTE]Quote from JSSPMK:
not ImO [/QUOTE]
Looking at some tight confluence in the 1392.75-1394.00 area. I'll widen it to 1392.50-1396.50 for more flexibility. Once they take the price up there, it'll most likely pause again and pull back about 10-15 points on the first attempt. Anyones guess what the ES will do then, but odds favor the upside.
The 1383-1387 zone that I've had in mind the entire day has proven to be even more serious resistance than I originally expected. I saw it as a good area to close longs, because I was expecting some consolidation in this area. But it has pulled back 10 points from this area, which marks some remarkable (although just temporary) selling interest in this zone.
A sweet re-entry with the trend would be at 1371-1374 area after at least 10-min confirmation bar, but I doubt they're willing to hand that gift anymore.. trend's getting stronger and should get to that 1392.50-1396.50 quickly from here.
I'm also seeing some serious confluence at the 1454.00-1457.00 area, but that's far far away for me and the markets can do a hundred interesting things before that. But once we break through 1400 and manage to hold above 1425-1430 zone, that 1454-1457 would become the ultimate area where this multi-week upswing can end and the road to a new descent can begin.
The 1383-1387 zone that I've had in mind the entire day has proven to be even more serious resistance than I originally expected. I saw it as a good area to close longs, because I was expecting some consolidation in this area. But it has pulled back 10 points from this area, which marks some remarkable (although just temporary) selling interest in this zone.
A sweet re-entry with the trend would be at 1371-1374 area after at least 10-min confirmation bar, but I doubt they're willing to hand that gift anymore.. trend's getting stronger and should get to that 1392.50-1396.50 quickly from here.
I'm also seeing some serious confluence at the 1454.00-1457.00 area, but that's far far away for me and the markets can do a hundred interesting things before that. But once we break through 1400 and manage to hold above 1425-1430 zone, that 1454-1457 would become the ultimate area where this multi-week upswing can end and the road to a new descent can begin.
It is axiomatic that 1420-1450 is resistance. Until then, weak shorts will continue to get shaken out, while weak longs will be buying and holding, now that the bear market is "over" and the market is "rising on bad news".
You forgot what else it was.
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