ES Journal Archive (2006 - 2008)

tommymoose · Apr 17, 2008

I've been really busy and haven't been able to trade the past few days but I had to check the charts. I plotted out a good resistance zone in NQ on the RTH chart and got excited about shorting it tomorrow. Then I took a look at AH chart and I see that price already spiked off the zone much earlier tonight. This confirms its validity and hopefully it will be re-tested in RTH tomorrow. The zone is NQ 1868-1871 and definitely worth keeping an eye on.

1374-1376 is equivalent on ES but not as strong.

blaster1 · Apr 17, 2008

Long 61.

Edit: out 62.25 +1.25

Buy1Sell2 · Apr 17, 2008

Stop removed momentarily for 8:30 .

Edit: Stop reentered at 1350.50

Buy1Sell2 · Apr 17, 2008

Quote from bvam1:

The invisible hand will be revealed close of Friday.

Not certain what you mean here Porgie--

spersky · Apr 17, 2008

stopped out of my long position.

Buy1Sell2 · Apr 17, 2008

The day trade trend remains up although it is overbought.

In my view, stops would be a little tighter in this scenario if daytrading.

volente_00 · Apr 17, 2008

Will rule of 10 and T day pummel the shorts today ? or are we heading to 1350 ?

blaster1 · Apr 17, 2008

Rule of 10 worked exactly to the tick this morning (70.75-60.75).

smilingsynic · Apr 17, 2008

Quote from Buy1Sell2:

The day trade trend remains up although it is overbought.

In my view, stops would be a little tighter in this scenario if daytrading.

The overall market trend has little to no relationship with the intraday trend. In a bull or bear market, overnight action (gaps) make up most of the move.

In terms of intraday, there is no trend. Added up over hundreds of days, the sum difference between open and close is nil. Holding overnight is where the trend-following money is made.

Pekelo · Apr 17, 2008

Quote from smilingsynic:

The overall market trend has little to no relationship with the intraday trend. In a bull or bear market, overnight action (gaps) make up most of the move.

What a load of crap....