ES Journal Archive (2006 - 2008)

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Quote from jagmot:

Small position here long at 1381.75. I'm seeing some bottoming out on the 30m and 60m charts. I'd like to see some confirmation tomorrow with the internals for me to add to position. I have a catastrophic stop located at 1348 and will look to tighten up parameters during the trading session.
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Not seeing internals strong enough to add to position but still like the trade overall. Stop raised to 1374 and pulling off a contract here at 1390.25. +8.5

Next target 1396 and will raise my stop to be on remaining contract.
 
Quote from jagmot:

Not seeing internals strong enough to add to position but still like the trade overall. Stop raised to 1374 and pulling off a contract here at 1390.25. +8.5

Next target 1396 and will raise my stop to be on remaining contract.
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What do you do, stay up all night long??? LOL. Good entry by the way.

OldTrader
 
Quote from OldTrader:

What do you do, stay up all night long??? LOL. Good entry by the way.

OldTrader
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Thanks. I'm on the west coast so usually do my analysis before I go to bed around 11. Saw a possible setup and then I couldn't fall asleep so i checked the markets and saw the mkts bottoming out.
 
Quote from fearless9:

May I ask what you mean by "internals"

regards
f9
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Sure I look at a few internal indicators like Advance / Decline line, New Hi's / New Lo, TRIN, and also VIX (NYSE and then I look at Nasdaqs internals as well)

Basically, I see all major indices in the green and dow transports are green. At the time of my post Adv/Dec line was about BE and new highs / los was only slightly bullish. I would have liked to see Adv/Dec line higher as well as financials rallying to add and put on a full position.

Edit: Would like to see RSI breakout on the 30 min, otherwise I might close out position.
 
Quote from jagmot:

Sure I look at a few internal indicators like Advance / Decline line, New Hi's / New Lo, TRIN, and also VIX (NYSE and then I look at Nasdaqs internals as well)

Basically, I see all major indices in the green and dow transports are green. At the time of my post Adv/Dec line was about BE and new highs / los was only slightly bullish. I would have liked to see Adv/Dec line higher as well as financials rallying to add and put on a full position.

Edit: Would like to see RSI breakout on the 30 min, otherwise I might close out position.
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Thanks jagmot, you are a hard working person

regards
f9
 
Quote from fearless9:

Thanks jagmot, you are a hard working person

regards
f9
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Welcome. I just look at the internals briefly as I come from a stock traders background. Rising tide lifts all boats.

I'm going to exit my position in the next 10 min or so and take a short. I see RSI weakness in the 15m and forming on the 30m charts.

I'll post on edits here shortly. Here's a 15m ES chart with RSI weakness

Edit: (1230EST) exit 1389 +7.25
Short full position 1389
Stop 1396
First Target 1374
 

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