ES Journal Archive (2006 - 2008)

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Quote from vertigo3:

Have to remark, only because it is something I monitor.

The recent move to new highs in the NQ and the ES (at roughly 1357 (1:57pm ET) was NOT accompanied by an ER2 new intraday high. This is usually a sign of a failure for higher prices.

Trip histo diverge in ES 5,3,2,1 makes it look unlikely that lift from these levels will garner followthrough, but who knows WHAT reaction to FOMC will be.
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You are my master :)

WTG Vert, Candles, RSX

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1842272>
 

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Quote from jagmot:

Lets get back to trading. Filled short at 1309. Also have another waiting at 1313 off of two previous touches (last Sunday and previous Tuesday) and then good size selloffs. I'm willing to hold through fed announcement. I'm looking for 1302, 1295, and 1289 for places to cover off the 5 min chart.
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Covered 1 at 1304.5 and 1 at 1302.25

2 remaining looking to cover at 95 and 89

kudos gents as you both got better entries and exits than i

Edit covered 1 at 97.25. (2:38PM EST)

last target still at 89.25
 
Yup, it certainly involved a good dose of luck to lock in something nice here. Sure does feel GREAT to be this lucky as rarely as it happens.. I see the low-tick exactly at 1301.50 before a lift back up to 1314.00 AND I covered with a market order. Yup. That makes my day, or even the week, I should say.

JSSPMK, thanks :)
 
a pattern that used to show up regularly from 2001-2006 (on FOMC announcement days) was an initial reaction (today down), then a counter trend move (we are seeing that now), then ultimately a leg in the direction of the initial reaction.
good trading to all, I'm done for the day
 
Quote from vertigo3:

a pattern that used to show up regularly from 2001-2006 (on FOMC announcement days) was an initial reaction (today down), then a counter trend move (we are seeing that now), then ultimately a leg in the direction of the initial reaction.
good trading to all, I'm done for the day
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I too am aware of that pattern (mainly due to Tom Hougaard)
 
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