ES Journal Archive (2006 - 2008)

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Important key area here at 1330-1333.. short from 1333.00 with a tight -2.5pts stop, expecting at least 1320.00 . This market's got some upside momentum still hidden in it, but we're in a bear market longer term, so lots of vulnerable long positions up here.

EDIT - taking about the ESH8, of course. Will switch to ESM8 next week.
 
if you take the funny lookin m pattern from 1/22 to now, and connect the 2/7 and 2/29 lows(on daily) that res comes in around 1332
 
Hi Volente...I'm not singleing you out but could you explain your rule of 10 signals? I don't want to wade through 5 thousand posts from this thread...I assume you watch 10 points off current high and lows as well as the open price....anyone else want to explain what they look at then please explain or provide the link......always good to see how the real folks do it...

Thanks
Quote from volente_00:

You have to understand that I come from a scalping background. I have been getting away from this and that is why I mostly trade rule of 10 signals only even though the scalper in me want to trade every wiggle in between. Before I started being more patient, I would enter trades, take some off at 1 to 2 points and set the stop to breakeven. This is still a valid strategy for scalping but it stressfull and leads to overtrading.
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Quote from Lawrence Chan:

The style of the run up is very similar to the other runs we have seen lately - no place to hide for any short side scalper.
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Ive seen bull markets that keep rising for months without any meaningful pullback at all.

that's right months.

so, I think today's action is basically a 'good thing'.
 
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