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ES Journal Archive (2006 - 2008)
- Thread starter Buy1Sell2
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Closed out half at 1396.25 for +6.75, holding other half short. Stop lowered to 1400.25.Quote from mbusch:
Looks to me like maybe someone turned off the magnet. I'm short from 1403, stop at 1404.25.
EDIT: Stop lowered to 1402.25.
EDIT: Added to short at 1397.50. Now full-position short again. Stop at 1400.25.
Buy1Sell2, why do you not consider trading from short side as more lucrative here, this looks like a bear flag hitting & failing to surpass 50% fibs. I think question is why go long now?
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1901846>
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1901846>
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Quote from gorkgonzola:
yeah, they tried with that one pop, but when they couldn't break thru, down to the bottom of the mini-range, and crack on further....
There was a clue on the tape at the time (hindsight). The sellers were of a bit above average as the price kept incrimentally rising, however, there were NO buyers. I kept waiting for either price blocks to print through but nothing came. You had about 25 seconds (relative) to make that before the bottom fell... I did not.
Quote from JSSPMK:
Buy1Sell2, why do you not consider trading from short side as more lucrative here, this looks like a bear flag hitting & failing to surpass 50% fibs. I think question is why go long now?
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1901846>
Kind of thought the same. Theres some nice divergence showing on the daily and weekly histogram to. What's your thinkin' B1S2? Are these signals not good yet?
JIM
you need to add in trendlines and the fundamental that the fed has to move this market up to cover their losses,the next res is 1436-40,don't think 1413-16 will hold, fundmentals trump TA.the guy at ptv-investinging is not great on daily or weekly timing but he's right on on cycles,that 1440 is his number,hasn't missed since aug 06 when i started watching him,i don't know squat about gann/elliot wave,but his numbers don't miss,he's got this cycle ending at 5/07/08, he called the mar 17 within a day 2 months out
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