ES Journal Archive (2006 - 2008)

[ammo]

long 45 on sep, 41,42 yesterdays nip on june

 

[Spectre2007]

erosion of discretionary spending at one of the fastest rates historically..

 

[JSSPMK]

Quote from tommymoose:

Long stop at 1927.75

To me it looks like you are buying into selling pressure, I do it also sometimes, did you see failure swing on 1m before it dropped? That is one of THE most powerful re-entry signals, which I must imprint on my forehead as I didn't bite the bait. Good luck on that trade.

 

[tommymoose]

Hmm, what do you mean by failure swing?

:edit: Stop moved up to 1928.75

slippage hooked me up... out at BE at 29

 

[JSSPMK]

Quote from tommymoose:

Hmm, what do you mean by failure swing?

@1.45 Eastern price failed to break 1347 (ES M8) whilst histogram has put in 2 obvious lower peaks (on 1m) & a tiny 3rd, that tiny 3rd was an indication of considering NOT to go long as you would be going against a highly probable further decline, which followed.

When I closed my short based on expectation of 1m triple D bullish signal you probably were deciding to go long at that time or already were long, by 1.45 Eastern it would have been more realistic to expect continuation of a declining market, I know it sounds like hindsight saying this now & of course it is, but the more we observe these things the better our anticipation skills become, that I am certain of.

Gold is bouncing nicely.

 

[tommymoose]

Okay, I think I see what you mean on ES. If the market was going to reverse off that triple D, 1347.50 would have been broken and you'd look to re-enter off a retrace of that move up?

Thanks for the observations

 

[JSSPMK]

Quote from tommymoose:

Okay, I think I see what you mean on ES. If the market was going to reverse off that triple D, 1347.50 would have been broken and you'd look to re-enter off a retrace of that move up?

Thanks for the observations

No problem, what I would have done I couldn't say, I am a discretionary trader after all & a piker

Whether it would or wouldn't have reversed by breaking 1347.50 is not as relevant as it's failure to do so, especially so if you consider histogram going lower & lower & lower upon that failure swing.

To a daytrader that implements small stops in an attempt to catch a large/r fish the above is very important, Long with strength & Short with weakness.

 

[jagmot]

Quote from jagmot:



Still trading ESM8
That's me hitting the market with those 3 lots

The 30, 60, and 120 all have good setups.
6 contracts (full position)
3 at 1336.75
3 at 1337.50
Stop at 1319
Targets 1347, 1352, and 1361
--------------------------------------------------------------------------------

Tired but up for the news

First target hit on econ numbers volatility (1347.50).
Moving stop to 1327.
--------------------------------------------------------------------------------

2nd target hit (1352.00)
Moving stop to 1332.
--------------------------------------------------------------------------------

Moving stop to 1339, RSI is starting to roll over on some of the timeframes. Last target moved to 1359 from 1361.

Closed out last target at 1344. All charts bearish. If we can get a retrace I'll setup a short trade.

 

[Spectre2007]

if it breaks 40.25...

throw the kitchen sink at it...

 

[Spectre2007]

<a href="http://content.screencast.com/media/bf166454-fb36-4410-8307-6b8c4ba8da8e_e4e7210a-d70e-4e9a-b1ea-ac06782ba068_static_0_0_06122008-143417.jpg"><img src="http://content.screencast.com/media/bf166454-fb36-4410-8307-6b8c4ba8da8e_e4e7210a-d70e-4e9a-b1ea-ac06782ba068_static_0_0_06122008-143417.jpg" width="1274" height="953" border="0" /></a>

line in the sand