ES Journal Archive (2006 - 2008)

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We reached a point right between the previous 2 lows.

If we can bounce, will be here.

Edit: Today's price action is very odd. The 3rd day of a sell off when morning rally failed to take out R1 should result in range expansion ... like today's range should be in general much more than that from yesterday.
 
Quote from Lawrence Chan:

Cool. Wedge indeed :)
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That is exactly what I was saying earlier on, when in sell-off mode it helps to step aside & observe others get crushed, then when selling subsides (ie a bullish wedge forms) enter with a buy order. Me, still being an anxious piker, I still find myself entering before time. I fully understand the odds of the majority traders' inability to find optimal entries, but would like to see myself be more patient in the future. Staring into the screen makes one more anxious, patience is more prudent obviously.
 
Range yesterday was about 61 pts.

Today so far it is 67.25 pts.

My guess is that we need 75 to 80 pts to finish the day off if the sell off continues from here.
 
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