ES Journal Archive (2009 - 2010)

[wiesman02]

If anyone actually made $ today trading the ES, u are a god.

Damn, it was very tough for me.

 

[Pekelo]

Here is how it works:

After the double bottom I did the math and since the Failure is usually around half of the Height, so you add that to the 2nd bottom.

Height: 64 pts

2nd bottom: 1042

Expected Failure around: 1042+32=1074

Now this is more a zone not a fixed point. Since the SMA 9 was higher, and it is usually the Failure point, I figured it probably would go higher. So anyhow you make an app. zone of the 1074 +/- 4 or so points and below you are short above you can stay long.

This zone is quite arbitrary, but eventually the market is going to pass it one way or the other. Today we went down, so I expect it to drop to 1014 ish in 3-4 days...

And the rule is that the Failure shouldn't be breached again, so one can use it as SL line...

 

[Decel]

Quote from Pekelo:

Here is how it works:

After the double bottom I did the math and since the Failure is usually around half of the Height, so you add that to the 2nd bottom.

Height: 64 pts

2nd bottom: 1042

Expected Failure around: 1042+32=1074

Now this is more a zone not a fixed point. Since the SMA 9 was higher, and it is usually the Failure point, I figured it probably would go higher. So anyhow you make an app. zone of the 1074 +/- 4 or so points and below you are short above you can stay long.

This zone is quite arbitrary, but eventually the market is going to pass it one way or the other. Today we went down, so I expect it to drop to 1014 ish in 3-4 days...

And the rule is that the Failure shouldn't be breached again, so one can use it as SL line...

Cool thanks for the info!

 

[Pekelo]

Any question you ever had about the dragon pattern but you were affraid to ask, was probably already answered here:

http://www.elitetrader.com/vb/showt...page=20&highlight=dragon pattern&pagenumber=1

I don't want to jinx it, but the last big meltdown in mid-May was also predicted
by a perfect dragon pattern which also Failed at the SMA line. It is the last 2 posts in the above thread...

 

[trader198]

kind of very accurate again. better trust my hunch

Quote from trader198:

may be down to 50~55 again. just Ben's talk rally?

 

[trader198]

will go down to 937 this month? get to sell at 1060

 

[trader198]

son of bitch, out at 1056.5

Quote from trader198:

will go down to 937 this month? get to sell at 1060

 

[Rashid_G.]

The respect of TL's by NQ nothing short of amazing lately.. bad reversal.. look at all those points I didn't get....

 

[trader198]

get top leave the market. could not handle its drop, I was chickened out here while a new trend just starts

 

[schizo]

Alright, I feel like a lost puppy. Can anyone tell me where the hell we're heading? I swear the market looked bullish going into the open. Now that we're about to close in the red (yet again), I'm not sure anymore.