That 23-26 area is just a wall. If we can get above it, then I would nibble. But for now, I'll just hold off...I'm biased to think we would selloff tho, but that's just my bias.
ES Journal Archive (2009 - 2010)
- Thread starter Jahajee
- Start date
- Status
It is even better to see on SPY, 112.92 MA 100 is brick wall.
My channels show that there is no more room for hesitation, we must go up or down. If I must guess than I will agree with Eko that we will go down. However I am sure that if we break from here movement will be big (30-40 ES points like minimum) therefore I am simply waiting and will try ride the running horse.
Right now we are just playing. Decision to direction is made I believe, we need wait where it will be and when.
My channels show that there is no more room for hesitation, we must go up or down. If I must guess than I will agree with Eko that we will go down. However I am sure that if we break from here movement will be big (30-40 ES points like minimum) therefore I am simply waiting and will try ride the running horse.
Right now we are just playing. Decision to direction is made I believe, we need wait where it will be and when.
We can't even get to 11:30 est before we start getting anemic volume
Keep in mind that on top of the summer doldrums, we have the pre-FED impasse. ZZZZZZZZZ
I think today I'm gonna have a long lunch.
Edit 16:59: OK, so I go to the kitchen to prepare an <del>aperitif</del> <i>appetizer</i> :eek: and what would you know? I hear the "TICK +800, TICK +800" alarm... Oh, well, I guess some bot got too bored and started overtrading.
Even the volume spikes on friday's squeeze were never over 50k on the 5 min
I actually thought that was an error on my chart until I could confirm it. Im w/ Picaso on the long lunch.
P.S. Try not to short a dull market
where is Airwaves with another +3?
Anybody know what the major sentiment is out there? Bullish, Bearish?
And assuming the Fed's move is a non-event, which way is smart money leaning?
And assuming the Fed's move is a non-event, which way is smart money leaning?
Quote from Picaso:
I think he's still long at 1125.50, target 1128.50
Yes, still long 1125.5 having grabbed +3 on my add-on (which in hindsight was a bad exit, but nevermind)
It can do what it wants at the moment. I'll take a +3 if it offers me it today. If it goes down again ill look to put the 'add-on' long backn on again, looking for a T-day rally.
We'll see.
Either way, Nice bounce from Friday where everyone was panickingabout a CRASH, lol, saying that I wouldn't see near my initial long anytime soon!! :eek:
I could close it here and sill be up overall on the trade......im not gonna though.
Good trading all/
- Status