ES Journal Archive (2006 - 2008)

[OldTrader]

Quote from Buy1Sell2:

The daily trend is up and the weekly trend is up at the moment. I'm nibbling here to find the correct entry. Haven't found it yet although today's was closer to the real thing. I'll try 20 contracts next.

You are correct though that the 60 minute trend remains down and I haven't caught it yet to the upside.

Admittedly I don't know how you define whether a trend is up or down. But I think it's a stretch to say the daily or weekly trend, either one, is up.

For instance, on the daily, we have yet to have a higher low, higher high sequence. The best you get on the daily for now is a higher low. The weekly has a well-established pattern of lower lows, lower highs.

Most of the important daily moving averages are pointed down.

Just another view.

OldTrader

 

[ammo]

trans sittinng at support starting w/7/17 lows

 

[kinggyppo]

Quote from kinggyppo:

long spy 125.33 tight stop. [/QUOTE

out 125.18

 

[Buy1Sell2]

Quote from OldTrader:

Admittedly I don't know how you define whether a trend is up or down. But I think it's a stretch to say the daily or weekly trend, either one, is up.

For instance, on the daily, we have yet to have a higher low, higher high sequence. The best you get on the daily for now is a higher low. The weekly has a well-established pattern of lower lows, lower highs.

Most of the important daily moving averages are pointed down.

Just another view.

OldTrader

When I say weekly and daily are up, I mean only in terms of bounces that have not totally ended yet. As you know, I am long term bearish and have been for quite some time.

 

[Buy1Sell2]

Of course, I have actually broken rules both Fri and today in terms of not following the 60 minute. In other words, I have not waited for it to turn prior to my trading on the long side. Both trades could have been avoided by following that one rule of mine, however I am prone to rookie mistakes like everyone is.

 

[volente_00]

Quote from jjf:

So why do you post and share thoughts on this thread

So that the lost souls my find direction in order to reach the pinnacle.

 

[Lawrence Chan]

Whole morning $tick negative ... news?

 

[MandelbrotSet]

The ES is sitting on the S1 pivot.

Should hold might hold maybe.

Wait for buy confirmation from whatever you use to determine a trend.

Later

Edit: Uploaded correct chart.

 

[ammo]

Quote from ammo:

l 52 5 pt stp nip from 7/29 50-53,looking for those who shortd there to cover, add 51, 48 stop

got out 50.50,got a phone call,couldnt post

 

[Lawrence Chan]

Quote from Lawrence Chan:

Whole morning $tick negative ... news?

Scenario has not changed in the past 1/2 hr