ES Journal Archive (2009 - 2010)

Status
Not open for further replies.
NQ is in exceptionally straight channel on tick or rangebar charts since Friday 10.00. Width of the chanell is just about 6 points. You need to be quite precise countertrend shorten in it, there is not much room for mistakes.
 
whats the word..

im using a "2nd backup" ghetto computer on a trip to amsterdam.. has anyone had to use IB "webtrader" stoneage technology. no scalping here.. but i need some action on, either the girls in the window will screw me or YM over 10500..

LMT sell 10500? goodluck. i dare ES/YM to make new high.. i will double dare.. NO WAY
 
Quote from jorgez:

I think that it is the lack of participation (volume) that is the cause of the frustration.

A lot of yesterday's action and this morning reminds me of lunch time price action.
More...


I agree. Low volume rise is not good long term. Notice the volume spikes on the hourly under 1100 as buyers defend 1090-1100


Longer term we could be making a cup with a handle pattern on S&P
 
Now (11:44am) we have the typical ES conundrum.
Price is stalled in a channel whose high is lower than the high established at 6:50. Whilst the bar close band is higher than that at 6:50 this is not unusual.
To all intent, we have a Top failure, except that "the longs" have the ball and we are heading into lunchtime.

The question we ask ourselves is not whether the next break is long or short but critically where are we placing our enter stops and our cover stops and where do we rotate if price moves against our position.
 
Status
Not open for further replies.
Back
Top