ES Journal Archive (2009 - 2010)

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Quote from neveral0ne:

What was teh confirmed break out entry ? You mean the headand shoulders pattern on the 5 min , and having a / diagnal line drawn under and the 5 min bar breakin below it for that push down ?
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At 10:05am ET there was a pivot low of 1076.75. Sell stop @ 1076.50 gets you short at the breakout of that bar during the 11:05am bar.

Target 1061 :D :D
 
Quote from NoDoji:

At 10:05am ET there was a pivot low of 1076.75. Sell stop @ 1076.50 gets you short at the breakout of that bar during the 11:05am bar.

Target 1061 :D :D
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Assuming a 1082 stop, why not use the 10:45 low to short 1077.75 as it represents another pivot? This also represents a TL, although a short one.. This reduces risk no?.. All depends on how much a retrace you require to define a pivot.. Similarly later at 1:45 the same 1078 is again the bar to short at 1077.75 no? A much better TL is broken on this one..

The point here is taking the higher pivot break where are very clear TL is at work frequently works as the lower pivots become near non-events.. Basically the trade on flags, wedgies.. or whatever they're called..

Sometimes ES looks so easy to trade.. NQ was not this organized today, thanks to them damn apples...
 

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Is it necessary to use buy stop or a sell stop ? I just place market orders in and out ... usually i get out with a limit order tho .. and is it always more convenient to have breakout orders 1 tick higher/lower than the previous key pivotal area ?
 
Quote from neveral0ne:

Is it necessary to use buy stop or a sell stop ? I just place market orders in and out ... usually i get out with a limit order tho .. and is it always more convenient to have breakout orders 1 tick higher/lower than the previous key pivotal area ?
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If not you are "anticipating", and that road is littered with various carcass, mine included. I also market in a lot but occasionally the move can be so quick I freeze... then chase..

Same goes for stops. I have scratched many a trade that sniffed my stop only to seriously go in my favor without me since I scratched. The thing about direction is a man can go mad.
 
Quote from Rashid_G.:

Assuming a 1082 stop, why not use the 10:45 low to short 1077.75 as it represents another pivot? This also represents a TL, although a short one.. This reduces risk no?.. All depends on how much a retrace you require to define a pivot.. Similarly later at 1:45 the same 1078 is again the bar to short at 1077.75 no? A much better TL is broken on this one..

The point here is taking the higher pivot break where are very clear TL is at work frequently works as the lower pivots become near non-events.. Basically the trade on flags, wedgies.. or whatever they're called..

Sometimes ES looks so easy to trade.. NQ was not this organized today, thanks to them damn apples...
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The 10:45 bar low breakout had a higher risk of a stop out because there was the 10:05 bar low as next support to contend with and it was only 1 pt away from your entry price. That's why I considered the 10:05 bar low as better breakout play, less visible support.
 
Quote from [Proximo]:

67.25 printed. Germany Manufacturing coming out in a few.

Expecting favorable #'s.
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Yeah, but do not forget that there might be a comment by Bundesbanks Weber similar to the braniac-like comments of Bernanke yesterday...central banker rookie !
 
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