ES Journal Archive (2009 - 2010)

[Lawrence Chan]

There is a gap not filled today.

A gap down tomorrow will give us the perfect 2nd gap down day

 

[rock34748]

Quote from rock34748:

Yea me...
L 64
T 69+
S 61.75

Stopped out

 

[saliva]

By now the silly bulls are feeling the chill down their spine.

Don't worry, we bears will eat ya for steak tomorrow.

 

[jmoo]

865 s

 

[riskaddict]

Is today the 3rd leg? Don't these downward moves always happen in 3 legs? Always work for me when I traded currencies.

 

[saliva]

Quote from riskaddict:

Is today the 3rd leg? Don't these downward moves always happen in 3 legs? Always work for me when I traded currencies.

Even worse, it broke through all major trendlines.

 

[Lawrence Chan]

No need to read too much into today's price actions.

ES is a very structured instrument in terms of price actions. One level of support/resistance is taken out, the next level comes in play. Some call it fractal, some call it other names. I couldn't care less

Last week we have a test of previous week/month high and failed. We then go for the obvious - previous week close, then previous week low.

Things can be pretty simple if you put it in proper perspective, but do not misuse the KISS principle

 

[temporary]

Quote from saliva:

By now the silly bulls are feeling the chill down their spine.

Don't worry, we bears will eat ya for steak tomorrow.

Wouldn't be so sure about that, expiration is in 4 days ... anything can happen

 

[Lawrence Chan]

Quote from temporary:

Wouldn't be so sure about that, expiration is in 4 days ... anything can happen

As vol mentioned op ex points to 850 or below.

Tomorrow a pause should happen, but last month 50%, close, and low will be in play.

Sell to Inauguration is still in play.

 

[HooLee]

Quote from Lawrence Chan:

No need to read too much into today's price actions.

ES is a very structured instrument in terms of price actions. One level of support/resistance is taken out, the next level comes in play. Some call it fractal, some call it other names. I couldn't care less

Last week we have a test of previous week/month high and failed. We then go for the obvious - previous week close, then previous week low.

Things can be pretty simple if you put it in proper perspective, but do not misuse the KISS principle

Very good advice, thank you. If the market makes lower low in dailies I will then take the loss and switch to sell the resistance mode. Couldn't be simpler.