ES Journal Archive (2009 - 2010)
- Thread starter Jahajee
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You are right.
After ES held 20 and bounced off, I am less bearish and will be very carefull not to short too close to that area.
34 was easy target to figure out but holding up at 20 really beats me
Good to know I am not alone. Had a time of day pivot at 19 but that does not usually contain such a strong downmove. This pa reminds me of August timeframe, skidding along (the top) in the low 1300's. The only thing I can chaulk it up to was Obama talk-action etc.... Whole new paradigm to be aware of.
Quote from Lawrence Chan:
You are right.
After ES held 20 and bounced off, I am less bearish and will be very carefull not to short too close to that area.
34 was easy target to figure out but holding up at 20 really beats me
Short 1 NQ @ 1267, stop @ 1272.25, target ~1230-1235 minimum
This move up over the past week has been very linear... I like shorting into action like this when weakness shows up since the retraces tend to be very quick and linear as stops trigger the whole way down. I'm not yet very patient towards holding through big retraces, so I like these when they work out.
This move up over the past week has been very linear... I like shorting into action like this when weakness shows up since the retraces tend to be very quick and linear as stops trigger the whole way down. I'm not yet very patient towards holding through big retraces, so I like these when they work out.
...losers happen... about 67% of the time with myself.
Sure, but my point wasn't that. You were expecting a 40 pts (NDX) drop and saw some kind of weakness, what I didn't see. We can look at yesterday as consolidation before further up and today being a T-day, I wouldn't count on any big selloff...
Here is what I expect, I am using a 5 mins chart to show the similarities with the daily chart:
After 3-4 white candles yesterday was a small red (consolidation reaching the upper BB) and it should continue up for 2-3 more days before any meaningful drop happens...
If gap up open is higher than yesterday's high, the probability of gap fill will drop drastically.
Looks like someone is pushing for that kind of open.
Edit: Pek, although we had a gap down yesterday, but the 4:15 gap from last week was not closed. Is your 2nd gap rule applicable today?
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