ES Journal Archive (2006 - 2008)
- Thread starter Buy1Sell2
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Just a thought - if we get a pull back, say, fill the gap, then the momentum going to the down side is so huge, we may not rally for the rest of the day.
So, to buy after the pull back, do you expect that to be a very small one?
FWIW
I was going through charts this morning and found this chart initially numbered back in MAY when I was curious about WolfeWave.
this was a bearish Wolfe Wave.
according to things I read on the net, the intersection of the lines produced by connecting Price pt 1 and price pt 3 intersecting with line defined by price pt 2 and price PT 4 supposed to indicate ETA, estimated time of arrival circled o chart with dashed line drawn down. This is supposed to be the "when" price should test the declining line defined by connecting price pt 1 with price PT 4.
Kind of unreal.
I don't really know very much about Wolfe Waves.
For instance, I don't know whether the extension into the ultimate top past pt 5 would have negated the pattern.
coincidence or not, pretty interesting.
Maybe some one who follows (is knowledgeable) of Wolfe Waves can tell us whether this count was valid.
I was going through charts this morning and found this chart initially numbered back in MAY when I was curious about WolfeWave.
this was a bearish Wolfe Wave.
according to things I read on the net, the intersection of the lines produced by connecting Price pt 1 and price pt 3 intersecting with line defined by price pt 2 and price PT 4 supposed to indicate ETA, estimated time of arrival circled o chart with dashed line drawn down. This is supposed to be the "when" price should test the declining line defined by connecting price pt 1 with price PT 4.
Kind of unreal.
I don't really know very much about Wolfe Waves.
For instance, I don't know whether the extension into the ultimate top past pt 5 would have negated the pattern.
coincidence or not, pretty interesting.
Maybe some one who follows (is knowledgeable) of Wolfe Waves can tell us whether this count was valid.
I really don't know. I just want to buy if we get a pullback that shows renewed strength.
I was not awake at 1 AM when the move started, so I pretty much need to have a pullback so that I am not buying an overbought chart. Now, the thing could continue upwards from here and I miss the whole thing.--That's ok.
I made no trades Monday.
Morning Vertigo!
ImPO even if the count was correct, it didn't start the move until later on, so basically that Wolfe Wave if it was one didn't work. Working on the basis that its accuracy was flawed, it is reasonable to not expect point of arrival (or whatever they call it) to be in line with Wolfe's methodology. That indicator you got going there on the other hand kept declining with peaks getting smaller & smaller, perhaps one ought to wait till that indicator starts turning more bullish
ImPO even if the count was correct, it didn't start the move until later on, so basically that Wolfe Wave if it was one didn't work. Working on the basis that its accuracy was flawed, it is reasonable to not expect point of arrival (or whatever they call it) to be in line with Wolfe's methodology. That indicator you got going there on the other hand kept declining with peaks getting smaller & smaller, perhaps one ought to wait till that indicator starts turning more bullish
Looking to short ~2010 NQ and ~1375 ES areas today if we can get there. I think this bounce is over.... this interesting article supports the TA - http://quantifiableedges.blogspot.com/ . I love this blog.
JSSPMK,
that chart of the SPX I posted
So you really like that indicator, huh?
It's proprietary and involves several calculations.
Some day maybe I'll take the time to explain it to you,
OK, I'll do it today:
it's just the Histogram from the standard MACD
but you knew that already
that chart of the SPX I posted
So you really like that indicator, huh?
It's proprietary and involves several calculations.
Some day maybe I'll take the time to explain it to you,
OK, I'll do it today:
it's just the Histogram from the standard MACD
but you knew that already
Quote from Renah:
SHORT 1371
STOP 1376.75
TARGET 1362
As I have been observing Jagmot must also be SHORT, nice RSI set up.
Good luck to all!
Renah,
Good entry. I think you have a decent short setup off the 15m chart and the 60m could possibly help you with a few more bars. My only thought is that sometimes the longer time frames will negate a setup off the 15. What time frame are you looking at? I don't normally look at anything lower than the 15 unless I m looking at pure price action.
I am currently long and debating if I want to move my stop up. My current trade is based off the 240m and Daily chart that looks to still be bullish. If the 60m were to go bearish I might sell another contract, if I had multiple contracts, but I only have 1 remaining.
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