ES Journal Archive (2009 - 2010)

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Holy Smoky, it has been 16 months since I first posted this strategy:

Quote from Pekelo:

The next day play after an SDD is to go long right at the close (cash). There is almost always an overnight upgap that goes higher after the open and reverses at 10 am, falling into 10:30. After that it can go either way.
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Futures at cash close were 802, currently 816, that is money made while you were sleeping... :)
 
RTH Only

R1 832.75
PP 815
S1 789.5
S2 771.75
S3 746.25

It is now clear that we have clear funds unloading action yesterday after I had a chance to review the tick data across the components.

If that continues today, the drop will accelerate.
 
Quote from Pekelo:

Holy Smoky, it has been 16 months since I first posted this strategy:

Futures at cash close were 802, currently 816, that is money made while you were sleeping... :)
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Usual target for the strategy is PP. It is already done.
 
best advice to newbies pre-market...never trade overnight .....trade intraday only.......when you get pro level in about 5 years position trade...
 
Quote from Lawrence Chan:

Usual target for the strategy is PP (815). It is already done.
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Not just yet, currently 818+... :)

(It is time based, not level based.)

Also, we usually reach the overnight high, which was 818...
 
Quote from Lawrence Chan:


It was pure momentum projection ... and now the level is reached, I don't know if we are going lower or reversal is in play. :(

That's my weakness.
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NO ONE knows the future. You analyze price action, trying to figure out which key levels price is more likely to test; and then place your bets, trying not to cut off profits if you are right, and trying to cut losses if you are wrong.
 
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