ES Journal Archive (2006 - 2008)
- Thread starter Buy1Sell2
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Quote from RsX:
Yes it was - went against a steep intraday downswing, but the odds were decent enough by price and volume patterns. That stop-out voids my vision for todays action so that was probably my only trade for today.
EDIT: seems I was faked out, because entered too early - above a larger confluence zone. We turned at the 1296.50-1343.75 upswing's 76.4% fib retracement, which is at 1307.50. Also a -61.8% fib extension of todays biggest intraday upswing points to 1306.00 and another important level was 1309.00 as the 38.2% retracement of the 1253.00-1343.75 (gee, thats 9 x rule of 10, isnt it, oh my..) larger upswing. So that's an area around 1306.00-1309.00, which I missed for some reason.
1308.50 was also S1. While there ticks were going off like firecrackers.
That's an RTH-based pivot level right? I look at the 24hrs session pivots so I missed that one. Nevertheless, it means even more confluence. And it's worth keeping in mind for the future. Thanks.
EDIT: seeing one more low-risk chance here. Long at 1308.25, -2.75pts stop (1305.5).
EDIT: stopped out -2.75pts. Done for today as well.
If anyone wants to figure out how Avarus/Wave does/did it, download a 60-minute chart, go read about the Taylor book method and Richard Wyckoff's methods, plan your trades, and trade your plan. There is a good section in Hill and Pruitt, The Ultimate Trading Guide on S&P techniques.
I am done for today: intense trading --> headaches.
I am done for today: intense trading --> headaches.
1300 is about 50% of this complete run up.
1303.75 is halfway; 1279.25 is open gap; 1296.25 yesterday's low.
If they can hold up this area, the long run will have legs.
Personally, I think they need to coordinate another sudden announcement tonight after close to make that happen.
Personally, I think they need to coordinate another sudden announcement tonight after close to make that happen.
this is a long drawn out process of wealth destruction and adjustment, the news is historical in proportion, so a simple rally to trendline should not be construed as everything is okay now,...
multiyear sell signal means atleast another year of adjustment, in the markets, as consumers find a new equilibrium with discretionary spending allocated more to energy and transportation, a new inflationary cycle is about to start with bond market peaking, interest rates in the double digits are the future..
multiyear sell signal means atleast another year of adjustment, in the markets, as consumers find a new equilibrium with discretionary spending allocated more to energy and transportation, a new inflationary cycle is about to start with bond market peaking, interest rates in the double digits are the future..
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