ES Journal Archive (2006 - 2008)

[Lawrence Chan]

Yesterday's run up is very well coordinated across forex and the index futures ... more like an effort by central banks, especially bank of japan.

Today, ES touched its sell zone on the daily level, first time in a month or two. The reaction surprises me for sure.

I asked B1S2 what would change his mind for the bullish case, my one is that 900 fail to hold and turn into resistance on retest from below.

We are still sitting above that, so I am still bullish until the daily, 4 hr, etc. timeframe get neutralized from oversold conditions

Edit: No directional mid-day fund selling spotted

 

[Lawrence Chan]

Quote from gobar:

every spike forms a MA pattern or H&S patterns..

once it broke 968 second time i knew it was forming MA pattern but shorted only once @ 967 and got out 960..

man i suck.. too afraid as many H&S pattern were busted when i went short..

I like selling double tops when breadth confirms the weakness, but I never sell into one in the last 30 minutes of RTH.

Today is indeed an eye opener and a great warning sign why I need to have my stops in there, always. :eek:

 

[spersky]

When do you sell the double tops, at the second peak? or when the break below the support?

 

[Lawrence Chan]

Quote from spersky:

When do you sell the double tops, at the second peak? or when the break below the support?

First rule, never picking the 2nd top. Close to, but never leaving a blind order there.

You need a micro structure change in the trend ... something hard to explain.

I guess pulse and SS both have similar concept to key off their triggers, but not likely disclosing the details.

 

[tommymoose]

Nice overnight short zone here 950-955 on ES... final target a little above 900. I'll post up if I take position.

 

[tommymoose]

Short 1948.50, stop 1951

...willing to try this trade twice

 

[Spectra]

These were the trades we called in the room today:

09:38:55 {AlexLW} [II] BUY ALERT. USE STOP MANAGEMENT PER GUIDELINES. TAKE PARTIAL PROFITS WHEN MARKET MOVES 7 POINTS IN YOUR FAVOR. [II] ! ! 09:39:09 {AlexLW} 8945 would be stop

10:24:22 {AlexLW} [**] SELL SHORT ALERT. USE STOP MANAGEMENT PER GUIDELINES. TAKE PARTIAL PROFITS WHEN MARKET MOVES 7 POINTS IN YOUR FAVOR. [**] ! !

10:59:13 {AlexLW} [II] BUY ALERT. USE STOP MANAGEMENT PER GUIDELINES. TAKE PARTIAL PROFITS WHEN MARKET MOVES 7 POINTS IN YOUR FAVOR. [II] ! !

14:22:51 {AlexLW} [**] SELL SHORT ALERT. USE STOP MANAGEMENT PER GUIDELINES. TAKE PARTIAL PROFITS WHEN MARKET MOVES 7 POINTS IN YOUR FAVOR. [**] ! !

15:16:32 {AlexLW} [II] BUY ALERT. USE STOP MANAGEMENT PER GUIDELINES. TAKE PARTIAL PROFITS WHEN MARKET MOVES 7 POINTS IN YOUR FAVOR. [II] ! !

15:24:38 {AlexLW} [II] BUY ALERT. USE STOP MANAGEMENT PER GUIDELINES. TAKE PARTIAL PROFITS WHEN MARKET MOVES 7 POINTS IN YOUR FAVOR. [II] ! !

15:37:08 {AlexLW} [II] BUY ALERT. USE STOP MANAGEMENT PER GUIDELINES. TAKE PARTIAL PROFITS WHEN MARKET MOVES 7 POINTS IN YOUR FAVOR. [II] ! !

15:54:08 {AlexLW} [**] SELL SHORT ALERT. USE STOP MANAGEMENT PER GUIDELINES. TAKE PARTIAL PROFITS WHEN MARKET MOVES 7 POINTS IN YOUR FAVOR. [**] ! !

Successfully,

Alex L. Wasilewski
Co-Founder & Head Trader
Trades That Work
www.puretick.com
1-877-GOLONG1 (1-877-465-6641)

 

[startraitor]

long 945, stop 942, target 951.75

 

[tommymoose]

Quote from tommymoose:

Short 1948.50, stop 1951

...willing to try this trade twice

Not convinced this is the top... didnt get the bar I was looking for... and since I need to go to bed I covered 1 at 945 and trailed stop to 948 on the other.

 

[ammo]

Quote from Lawrence Chan:

How do we define trend now with 15 min volatility of 50 pts? :eek:

if u look at 30 min chart on usd/jpy , at 2:45 cst we hit 98.00 ,the top tl,and were rejected ,spu's followed,that is what i thought,...after the close there was a story about a negative GE news article that came out,that was not fact but instead an older article recirculated by mistake,tribut this was ated to the selloff