ES Journal Archive (2009 - 2010)
- Thread starter Jahajee
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Trade taken off @ 1029.75 for +0.5pts (scratch trade).
It could've been a bogy, but the uptrend hasn't abated, and if tonight's action is any judge, I anticipate we'll be revisiting last Friday's Highs pretty soon.
See ya bright and early Monday.
P.S. That's 9 out of 10, the key now is to not get cocky. <strike>
</strike> :eek:Japan rallying quite strongly, if we followed them tonight we would have tested 1050.
Last time I checked Japan needs to export, so I am not sure how the very strong Yen helps them.
To put it in perspective, the last time the dollar/yen was this low the ES was below 900.
And a note to J.J., I would suggest working on adjusting your currently negative r/r ratio. Swing and position traders might be able to handle a negative r/r but I donât think most professional day traders would recommend it.
Last time I checked Japan needs to export, so I am not sure how the very strong Yen helps them.
To put it in perspective, the last time the dollar/yen was this low the ES was below 900.
And a note to J.J., I would suggest working on adjusting your currently negative r/r ratio. Swing and position traders might be able to handle a negative r/r but I donât think most professional day traders would recommend it.
I was just thinking the same thing up until the ES tanked. It didnt look like there were any bids and no one wanted to buy. Maybe thats what we'll experience. It will look like fake strength and then wham, it comes down and hopefully doesnt fall through the traps for those who are long.
Quote from MandelbrotSet:
Trade taken off @ 1029.75 for +0.5pts (scratch trade).
It could've been a bogy, but the uptrend hasn't abated, and if tonight's action is any judge, I anticipate we'll be revisiting last Friday's Highs pretty soon.
See ya bright and early Monday.
P.S. That's 9 out of 10, the key now is to not get cocky. <strike>
IMHO we're building a base (double bottom) for a move back p to 1038-1040 ES tomorrow.
Monday's market will, of course, set the tone, but I think that's what we are seeing.
I am well aware of that, but they have been expected to win for quite some time. The only thing slightly surprising was by how much they won. The much better than expected industrial production and retail sales tonight was as much a factor in the large rally, but it is nice to see that the equities have come to their senses considering where the yen is â for now at least.
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