ES Journal Archive (2009 - 2010)

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Quote from Pekelo:

Now let's get back to business....



Since the H&S on the daily should be symmetric, we still have 4-5 trading days to make it up to the 1070-80 right shoulder. So if the H&S pattern is playing out, the market should take its time, and not hurry up too fast.

Next Tuesday reaching that level is fine....
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Pek,

The bottom neckline is not a flat line, so no symmetry to start with?!

Maybe there is no H&S ...
 
Quote from Pekelo:

Now let's get back to business....



Since the H&S on the daily should be symmetric, we still have 4-5 trading days to make it up to the 1070-80 right shoulder. So if the H&S pattern is playing out, the market should take its time, and not hurry up too fast.

Next Tuesday reaching that level is fine....
More...

Monday being Bradley number and all. :)
 
Quote from MandelbrotSet:

The uptrend continues unabatted.

With ES resting above its pivot I'll be looking for it to go to at least R1 and maybe even R2 as well.

Good trading
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Price has broke strongly through R1, and R2 is dead ahead at 1066.5


P.S. I have learned that there is not too much point to shorting these strong uptrends, your stops will just continue getting hit.

Signed M, from the School of Hard Knocks.
 
Quote from Lawrence Chan:

Maybe there is no H&S ...
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It depends on if you took the blue pill or the red one. :)

At this point I am working with the H&S assumption, we will see what is going to happen. If we go way over 1080, no H&S.

The left shoulder took 5+ days to form, so I expect the same on the right one. We might reach 1070 earlier but we should linger there (1070-80) for a few days before going down...
 
Quote from MandelbrotSet:


P.S. I have learned that there is not too much point to shorting these strong uptrends, your stops will just continue getting hit.

Signed M, from the School of Hard Knocks.
More...

yeah i figured 1070 was a probable for end of day and wanted a day swing long, just figured i could get a better entry and wanted to short down to that in the mean time. still building that right shoulder. then who knows. weekly chart could look strong depending on friday.
 
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