ES Journal Archive (2009 - 2010)

[petty1978]

This chart shows 2 very important points in time for the ES that offer a ton of support when extended out.

These are not 2 random points creating a trend line. These do not occur everyday and you have to be patient for them to line up. When they are combined with other factors they produce very large swings.

These points in time and price do fail and when they do, they really fail. I do not use them to initiate trades but as a guide.

This line tells me 1126 is the minimum upside IF it holds this line.

 

[petty1978]

Here is the chart

 

[tortoise]

Quote from petty1978:

Here is the chart

where?

 

[petty1978]

Quote from tortoise:

where?

Im trying to upload it, obviously this is user error

 

[petty1978]

Sorry I had the wrong format.

 

[emg]

Quote from emg:

plan on adding at 1178.00

filled. b/e at 1092.25 profit target at 1093.25

 

[tomahawk]

That is the 30-min chart, same TL as the hourly. Yes it could be temporary support, but why would it necessarily have to bounce 50 pts from the low here?

 

[petty1978]

Quote from tomahawk:

That is the 30-min chart, same TL as the hourly. Yes it could be temporary support, but why would it necessarily have to bounce 50 pts from the low here?

tomahawk are you addressing my chart? If not, I apologize.

If you are, I have 1126 as the minimum upside because when support holds at these guide points price always reverts back to the furthest point back in time/price, at a minimum.

 

[kinggyppo]

Quote from petty1978:

Sorry I had the wrong format.

prices would be helpful, we are left to guess the levels.

 

[tomahawk]

Quote from petty1978:

tomahawk are you addressing my chart? If not, I apologize.

If you are, I have 1126 as the minimum upside because when support holds at these guide points price always reverts back to the furthest point back in time/price, at a minimum.

Interesting. So when a TL 3rd touch holds, you've found price ALWAYS returns to the level of that 1st point of the TL? ... hmmm.

Thanks for sharing the idea.