ES Journal Archive (2009 - 2010)

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For all you discretionary ES traders out there, this is make it or break it time for upside based on the 20 MA on the 5m Bar...if it doesn't hold, we posted the top...if it does, maybe 1 more new high...
 
Quote from NoDoji:

We haven't had a country default on its debt yet. In 2008 we had major iBank failures, first BSC, then LEH was the nail in the market's coffin. If one of these countries defaults, that would be mayhem for the markets. Right now it's just a "correction". The whole thing has a deja vu feeling though.
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Add to that the ability of PPT to "blame it on EU -- it's not US" and you have the makings of a major summer correction just so the politicos can come back in "saving the day &401k" in Sept/Oct for Nov elections.
 
Quote from petty1978:

I have these bands all over the ES, as price drops or rises they are printed way way in advance, .............................
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Yes, price has a memory and until the ES it breaks 1586.75, it remains within charted waters.

No matter what type of bar is preferred, price is price. HOD, LOD Open etc never change with the choice of charts ... they are what they are.

Breaklines (s&r) never change, but it is useful to know who is building a position at these breaklines.
When I say "useful" it will enable you to see when a head of steam is building up, even though everything else is screaming "fade me"

In it self, these tools do not provide anything other than a skew of the odds, and that is all you need.
 
Quote from petty1978:

For all you discretionary ES traders out there, this is make it or break it time for upside based on the 20 MA on the 5m Bar...if it doesn't hold, we posted the top...if it does, maybe 1 more new high...
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Looks like you nailed it.
 
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