ES Journal Archive (2009 - 2010)
- Thread starter Jahajee
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My daily chart shows a bullish engulfing bar yesterday, and no econ or Asia/Europe news overnight, which would indicate a likely uptrend today as price tries to work its way to the 20-bar MA, which is where the swinging bears would be looking to short.
The 20-day MA on my chart is at 1059.00, which is about where price has now stalled. I took off early today to watch World Cup, thought about buying 1044.50 with an OCO order just before I shut down, knowing how the market always makes a big move when I leave, and then decided not to. I was surprised to return and see price already there today. I bought a stock in 4 IRA accounts on the open this morning and the damn thing ended the day up 4%. That was one crazy move up!
If price breaks through here, I would expect a possible single day move to 1080.00 if there's anything less than bad on the jobs front tomorrow.
If price fails to break through here, technically I'd expect a retest of 1024.00.
The 20-day MA on my chart is at 1059.00, which is about where price has now stalled. I took off early today to watch World Cup, thought about buying 1044.50 with an OCO order just before I shut down, knowing how the market always makes a big move when I leave, and then decided not to. I was surprised to return and see price already there today. I bought a stock in 4 IRA accounts on the open this morning and the damn thing ended the day up 4%. That was one crazy move up!
If price breaks through here, I would expect a possible single day move to 1080.00 if there's anything less than bad on the jobs front tomorrow.
If price fails to break through here, technically I'd expect a retest of 1024.00.
Targeting 911 with a 14 point stop from 1058.
Given yesterday's partial reversal/headfake, and today's one way move to the moon, the next couple of days are typically bullish barring any shitty news. This will be my excuse for buying anything under the 50 day MA.
On the Flip side, I am watching what the bears will do at the 20 day MA @ 1068 on ES. If they fold like a cheap tent, then we head to the 50 day which will probably be around 1088-92 by then.
If the bears pound it again, I'll look for 1028 as the first target.
My trade: Find a spot to go long tomorrow (barring any shitty jobs/sales #) I won't suggest a short until the 20 day. Then again, I can be wrong...so keep them stops tight.
On the Flip side, I am watching what the bears will do at the 20 day MA @ 1068 on ES. If they fold like a cheap tent, then we head to the 50 day which will probably be around 1088-92 by then.
If the bears pound it again, I'll look for 1028 as the first target.
My trade: Find a spot to go long tomorrow (barring any shitty jobs/sales #) I won't suggest a short until the 20 day. Then again, I can be wrong...so keep them stops tight.
It gave around 2 points of profit taking, and I was able to get out of my 3 contract position at a profit. Looks like it hit a moving average then bounced back up. Amazing strength considering no real reason for bull move today.
Quote from schizo:
Stopped out!
Was hoping for some profit taking before kicking up. But it was not to be.
I think the idiots were bent on stopping me out. Call me a conspiracy theorist but it amazes me how my stops are hit in AH, especially when I post them here for everyone to see. It's eerily uncanny at times. This ain't the case in RTH. Do these morons really follow what's written here at ET or am I just paranoid?
For the hell of it you could post a bs stop but really have a sell order working at that price????
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