ES Journal Archive (2006 - 2008)
- Thread starter Buy1Sell2
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I'll skip long today and stay on the sidelines or get short on a resolved bounce. If I miss a big rally, it doesn't really matter. I am in for the long haul and I will hit a big trade from time to time that makes up for the misses etc.
I should point out, that if the market were to hit your 61 and bounce back quickly and authoritatively, then I might change my view back to long.
Same deal as yesterday ... NQ charges towards its high, dragging ES along.
Any attempt to short the intraday down trend from yesterday will have to take that into account.
Any attempt to short the intraday down trend from yesterday will have to take that into account.
What a freaking beautiful trend this morning.
Just a note to anyone who reads the tape and uses things like market profile - they must have seen this move coming a mile away.
There was some big orders filled into the close last night and the down move was on thin volume.
Sets up with the nice 1 point stop run this morning below 63 met by aggressive buyers. W pattern painted with some real buying force.
The correlation with the other markets could also show that this move would be strong.
However, usually when we move up this quick in the morning then expect a significant retrace before the move resumes in the evening.
However, i still believe the important part about catching a nice trend is stop placement and precise stop trailing so as to not give away too many gains for intraday traders.
There was no reason for any long not to take nearly all the points offered in this move thus far.
Just a note to anyone who reads the tape and uses things like market profile - they must have seen this move coming a mile away.
There was some big orders filled into the close last night and the down move was on thin volume.
Sets up with the nice 1 point stop run this morning below 63 met by aggressive buyers. W pattern painted with some real buying force.
The correlation with the other markets could also show that this move would be strong.
However, usually when we move up this quick in the morning then expect a significant retrace before the move resumes in the evening.
However, i still believe the important part about catching a nice trend is stop placement and precise stop trailing so as to not give away too many gains for intraday traders.
There was no reason for any long not to take nearly all the points offered in this move thus far.
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