ES Journal Archive (2009 - 2010)
- Thread starter Jahajee
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Quote from schizo:
So what do you have for tomorrow's target? 1100 by chance? I would be feeling damn rich if that were to happen.
resisitance around 1097 -1100 but
put your es chart on 1 hr and look at the IHS over past 5 days
I think they really want a right shoulder between 1130-1150 ish for the longer term.
That IHS projects to 1115
As a guide for the ES, if the 16:30 pm est open is on the opposite side of the daily pivot as it did today, from the 9:30 am est open (splitting the pivot) this usually results in a move back to the 16:30 open within the same day or 48 hour period.
If you are receiving short signals and you have this guide appear, it is a nice exit target to have in mind and possibly can offer you a more profitable exit than your trade signal.
There is a lot you can deduct from this guide, even if it fails.
Side Note: there is a nice little gap on the ES full session charts at 1056 level around 17:00 pm est. Add this gap to the pivot being split and any rally we "may see", even if its a multi-day, will most likely revert back to at least 1056....now I do not execute trades off of this but I do like matching my signals that execute trades around this...so I become extra aware of short signals.
If you are receiving short signals and you have this guide appear, it is a nice exit target to have in mind and possibly can offer you a more profitable exit than your trade signal.
There is a lot you can deduct from this guide, even if it fails.
Side Note: there is a nice little gap on the ES full session charts at 1056 level around 17:00 pm est. Add this gap to the pivot being split and any rally we "may see", even if its a multi-day, will most likely revert back to at least 1056....now I do not execute trades off of this but I do like matching my signals that execute trades around this...so I become extra aware of short signals.
Two concepts to be mastered:
1. Trend Trading = holding position to catch the full move towards the air pockets created by the market makers. This will take a few probe trades to catch the reversal wave.
2. Counter Trend = buying or selling against where the market won't go.
The second creates the first.
When one has understood this then the market is under their thumb...
http://www.youtube.com/watch?v=nYYTLJ8YHi4
1. Trend Trading = holding position to catch the full move towards the air pockets created by the market makers. This will take a few probe trades to catch the reversal wave.
2. Counter Trend = buying or selling against where the market won't go.
The second creates the first.
When one has understood this then the market is under their thumb...
http://www.youtube.com/watch?v=nYYTLJ8YHi4
I was looking for a day to show this. I can't find anything I like article wise. Everyone has too many rules. The premise for me is to set up the trade because price reverses back and forth thru the opening price that is 109.19 on spy. You can use any time frame from a minute to an hour. On a ten minute frame wait for a ten minute bar to print, go long or short with your stop being the high or low of the first bar that print. The reason I like this is that on a pure trend day you will not get stopped out and you can ride the trend, the only issue will be where to take profits.
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