ES Journal Archive (2006 - 2008)

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Quote from Lawrence Chan:

The daily momentum built up is giving us this show down.

Will be interesting to see if a good swing long position can be built from here.
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I reckon we need to see some serious hammer-type action to consider favourable conditions, woudn't you say?

BTW Old.T TY for the answer, you were spot on! I guessed that could have been the reason.
 
Quote from joeb8822:

I use Tradestation for my charting, and I agree DO NOT TRADE FED WITH TS

USE NINJA TRADER/ ZEN FIRE
I have 2 accounts when I trade News
ALWAYS NINJA

Be Careful,

Joe Baker

http://www.youtube.com/user/TradePilotPro
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Joe,

Do you find TS execution acceptalbe when markets are not FOMC or some big report? I ask because I am planning on opening an account with TS so I can plot indicators to make it easier to see my set ups.

Yes Zen is supreme with TT, but I already have this code I like written for free.
 
Quote from JSSPMK:

I reckon we need to see some serious hammer-type action to consider favourable conditions, woudn't you say?

BTW Old.T TY for the answer, you were spot on! I guessed that could have been the reason.
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I use simple moving average difference to highlight the daily chart prices.

Yesterday, they forced a close > 1320 and that makes the chart looks like a possible div bottom in place.

Even this morning, the daily still looks good with that div bottom.

Then everything changed after lunch. :)

Just like a trap!

p.s. very glad I used tight stops :D
 
Quote from satchel:

AD Vol never looked back:
Advancing 102,768,000
Declining 1,012,915,000
:eek:

half that mid-day.
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Remember that double 1:9 days are well known mkt bottom.

Tomorrow could be the day. :)
 
Quote from Lawrence Chan:

I use simple moving average difference to highlight the daily chart prices.

Yesterday, they forced a close > 1320 and that makes the chart looks like a possible div bottom in place.

Even this morning, the daily still looks good with that div bottom.

Then everything changed after lunch. :)

Just like a trap!

p.s. very glad I used tight stops :D
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Again sorry for the antique line chart, it's easier on the eyes :)

It's pretty self-explanatory, that's what I meant by hammer-type, on the line chart rejection zones are shown as sharp angles coming in pairs or triplets, once a couple of rejections of a certain area have been put in place, then sentiment becomes easier to interpret ImPO. So far not an obvious bottom obviously looking at that picture. Slapping on histogram on that chart makes it even clearer :)

BTW all 3 major chart's histo is bearish at the moment.

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1973680>
 

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Quote from iloveoptions:

Added one more at 1291/stop 1281 on both.
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Placing a sell limit at 1292.25 to exit last add. To avoid noise since I'm sensing a relief rally for tomorrow, stop will be moved to 1264 for now.
 
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