ES Journal Archive (2009 - 2010)
- Thread starter Jahajee
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Quote from Pekelo:
It is actually not a pattern, just the direction. Tomahawk said he could look up his charts so I was waiting for him to do so or anyone else to do a very little research. You did but you should have used ET, it was already discussed here.
I actually had a thread on this...
I did the "quick version" of the homework - hope you don't mind.
As always, thanks for sharing Pek.
http://www.elitetrader.com/vb/showthread.php?s=&threadid=171573&highlight=cup+handle
The earlier setup this most closely resembles, to me, is 5/12, where we had come off recent highs by several days, almost forming a H&S on the daily now. And after 5/12's intraday C/H, early in the next pre-market price drifted up roughly 5 points before falling throughout the regular session.
5 points up from Friday's close is right where we are now @10pm EDT.
5 points up from Friday's close is right where we are now @10pm EDT.
What a surprise. What didn´ work on Friday whole day long ( break of 1095 ) is accomplished in the overnight session...Question is : who in his right mind invests 1000 of lots in overnight sessions ? Especially our institutional arbitrage friends must be really happy....
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