ES Journal Archive (2009 - 2010)

[independenceair]

Yup ..euro looks ripe for a pop..but so does USD.JPY longer term

 

[JSSPMK]

Quote from oraclewizard77:



...I think I need to wait for good entries, and then if I pick a good entry, give it enough room so I don't get stopped out on stop runs or false breakouts.

Have you considered daytrading ONLY when Daily chart shows a valid entry according to your method used to pick intraday entries?

You see I believe that daytraders trading futures give too much back when volatility subsides & ranges contract. But we do need volatility to make consistent returns. At the moment Daily charts are in the middle of a bounce move, so it is reasonable to expect low vola/tighter ranges/non-directional squeezing.

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2741549>

 

[independenceair]

I concur..divergence should be present for accuracy

 

[JSSPMK]

Maybe instead of just looking for breakouts like suggested by OP, we should all seek out conditions when range expansion is about to take place, post our charts, put on trades with targets, I think it will work as a charm. Then wait for another Daily set-up. Who is in? I am in

 

[independenceair]

Another example similar to that one ..one past and one current in the same chart with price patterns ..H&S played out..currently big bad rising wedge

 

[ammo]

Quote from JSSPMK:

Maybe instead of just looking for breakouts like suggested by OP, we should all seek out conditions when range expansion is about to take place, post our charts, put on trades with targets, I think it will work as a charm. Then wait for another Daily set-up. Who is in? I am in

jss, could you explain the setup that precedes range breakout or vola expansion,other than triangles

 

[JSSPMK]

Quote from ammo:

jss, could you explain the setup that precedes range breakout or vola expansion,other than triangles

there are many ways to analyse it. I look at combo of p/a + histo:

price action preceding range expansion shows signs like flags, pennants, wedges, DTs & DBs. Rising/declining histo points to either strengthening or weakening p/a.

 

[independenceair]

This example is current, maybe examining the last couple of weeks of data coming out of all relevant sources .

 

[JSSPMK]

Quote from independenceair:

This example is current, maybe examining the last couple of weeks of data coming out of all relevant sources .

good example, definetely more vola soon. Trend is down, bounce likely be short lived, I am hunting it down in another thread.

 

[ajcrshr]

The market is overbought on weak volume. Bernanke will undoubtedly be more dovish after the CPI numbers last week though so we might have to wait for some negative news out of the piigs to begin heading toward 1030