ES Journal Archive (2006 - 2008)

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one of the worst things about a pattern like this is that even if there is stealth accumulation, positioning for a shot up to 52-56 area, the possibility of a token new intraday low remains real (a spring).
 
Quote from gwac:

Fridays are not normal days.

I could be wrong but I am long here and will stay until 40 goes.
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Yes, you're right.

Fridays have been tricky, for sure, the last few weeks.

For that reason, I haven't put on one intraday trade yet in ES (I put on a longer term trade at 46.50, looking for around 50 points within the next week) but I am looking to see what happens if we get close to 47.50, the three hour high. The choppy market action suggests to me that that's the key number.

Then again, it's Friday. :)
 
yep 47.5 goes then 52 to 55 very quickly. Remember shorts will have last Friday bloodbath on their minds still..
Quote from smilingsynic:

Yes, you're right.

Fridays have been tricky, for sure, the last few weeks.

For that reason, I haven't put on one intraday trade yet in ES (I put on a longer term trade at 46.50, looking for around 50 points within the next week) but I am looking to see what happens if we get close to 47.50, the three hour high. The choppy market action suggests to me that that's the key number.

Then again, it's Friday. :)
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Quote from regal_2012:

this same thing happened last friday.

then we shot up 30 points.

compare the charts.
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i'm not sayin we may not go up this afternoon, but the charts and price action today are completely different from last friday.
 
Quote from gwac:

yep 47.5 goes then 52 to 55 very quickly. Remember shorts will have last Friday bloodbath on their minds still..
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Big difference between last Friday and today: today, S2 is ABOVE us. At this point, it is pretty far above us.

Odds favor retest of today's low before retest of recent multi-day highs.

Then again, it's FRIDAY.
 
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