ES Journal Archive (2006 - 2008)

Lawrence Chan · Dec 4, 2008

Dollar yen never rallied with the ES in the last 2 days ... it was drifting sideway at best.

Today, it is testing its tight range bottom while ES going the other way.

Pekelo · Dec 4, 2008

Quote from saliva:

I just woke up so, yeah, I pretty much lucked out on the chance to cash in.

I think you are on the West coast. I guess the lesson here is to set the target too, not just stop loss, specially when one is sleeping... 872 now...

saliva · Dec 4, 2008

Quote from Pekelo:

I think you are on the West coast. I guess the lesson here is to set the target too, not just stop loss, specially when one is sleeping... 872 now...

Yeah I am on the West. I usually do place a target, but I was hoping to strike gold (well, what did ya expect, I'm a noob!

). With the payroll numbers coming out tomorrow, that was the plan. But with less than 3 hours of sleep, I ain't in the mood to trade today.

volente_00 · Dec 4, 2008

Quote from saliva:

Yeah I am on the West. I usually do place a target, but I was hoping to strike gold (well, what did ya expect, I'm a noob! ). With the payroll numbers coming out tomorrow, that was the plan. But with less than 3 hours of sleep, I ain't in the mood to trade today.

so you were up at 3 am est ?

FWIW history shows that reversals happen in es with a high probability between 3 and 3:15 when europe opens and then the next reversal time zone comes in around 6 am est.

saliva · Dec 4, 2008

Quote from volente_00:

so you were up at 3 am est ?

FWIW history shows that reversals happen in es with a high probability between 3 and 3:15 when europe opens and then the next reversal time zone comes in around 6 am est.

No, bro, this insomniac was up at 3 am PST! But you're right about 3:00-3:15 reversal. That's when the European markets open.

saliva · Dec 4, 2008

Quote from saliva:

Ya mean the friggin' human psychology is at work again. Following in the footsteps of previous two days, this market will rally, then reverse and then once again rally strongly into the close...or so they think. Will it work for the third time? I have my doubts.

Go back and look at the morning price action in the last two days and you'll see a close resemblance to what's unfolding today. How predictable can ya get? These morons are pissing me off!

Pekelo · Dec 4, 2008

The 2 days chart started to look like an even bigger camel. It is not that I am fond of PPP, Pekelo's Pet Patterns, but what it represents.
The camel's neck was a rally, the head was a symmetrical triangle.
Trend + sym. triangle means continuation of trend...

This new head is either an ascending or a symmetrical triangle, either way it means up....

Here it is:

jmoo · Dec 4, 2008

hmm quiet day only 20 handle moves... buy stop 870.5 5 point stop

Lawrence Chan · Dec 4, 2008

3rd test of gap ...

Edit: gap fill play in progress ... potential target 886. Should be attractive enough for momentum players to push it up at least to mid gap area.

Pekelo · Dec 4, 2008

Quote from Pekelo:

We had 4 higher highs with 4 higher lows in the last 2 days fluctuating, but eventually going higher market....

Today we had the 5th higher low around 860 (cash only), and the 5th higher high is in the works, 874+....

Oh yes, and the camel's head broke out upward...

Quote from Pekelo:

This new head is either an ascending or a symmetrical triangle, either way it means up....