ES Journal Archive (2006 - 2008)
- Thread starter Buy1Sell2
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It seems that Buy1Sell2 doesn't have a lot of experience with daytrading ... for the sake of maintaining everyone's sanity while he creates a trading paradigm that he and only he understands we'll just conviently label this trade as an "overnight trade" and his other trades (which may or may not be pulled out of his "hat"
) as "position trades".For our intents and purposes, he doesn't actually "day trade".
Hope that helps.
I don't have time to spin anything; I don't know how you have time to parse my posts! Good luck to you.
I think reasonable debate is healthy, but it is meaningless when someone says that another poster is wrong, but then adds nothing by failing to show why it is wrong and what their beliefs are. I am sure it is nice to sound erudite and enigmatic by putting down someone else and then adding no useful information or details of your own, but it is hardly a worthwhile exercise.
As for the ES, 1370 held as many were expecting it to so we are still in a trading range. The NQ continues to outperform the ES; the ES should be 20 points higher if it were making an attempt to keep up, but the NQ is more and more becoming just a proxy for Apple and a few other stocks and is not really an index anymore. The markets are continuing to ignore bad news and are currently keying off oil more than anything. With support at 1370 and some resistance at around 1400, we are dead in the middle at 1385, so it may be waiting for oil to tell it what to do. Durable Goods at 8:30 tomorrow will move the markets some, but it is a volatile number. There is some Fed speak coming up, but at this point they just seem to be saying we're done for awhile.
hey tommy how do yo feel abot this level 1992? Been trying to sell just never got a fill
Option 1. Drop to 1378's, it holds, and we move up to the early 1390's.
Option 2. Move up to 1395 or so off the Open, meets resistance and trades back down to the 1375's.
I'm a multi-time frame scalper, so either way it goes, I don't care. I'll be positioned with the dominant trend.
Well today turned out picture perfect and I had one of my best days in a while. The long side is unattractive to me at this point and I'm going to be looking for weakness at certain levels to take some shorts. A move from any of these areas has the potential for 100+ points to the downside without a major retracement.
I'm going to ignore ES chart since its irregular... things aren't always textbook. NQ is much nicer looking and I'll treat the chart as its own. Here are the resistance zones I have for NQ -
Potential turning points for tomorrow: 1998 - 2000 and 2003.50 - 2005.25
If we slice through that, the next worthwhile thing I've got as of now is 2029-2033, but that would be days from now.
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