One other item of analysis. The daily has not had a long bias yet. Nothing other than the 60 minute and lower have had long bias in this bounce. Now that's fine if trading the 5 minute or 15 minute chart. A trader could trade long within that universe. --but daily bias has not been long yet.
ES Journal Archive (2011)
- Thread starter Buy1Sell2
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I think I am seeing the difference between what we are saying. For me I look at the daily to see which direction would be easier to make trades. So when I say daily bias long it is for me to make an intra-day trade. Where you are saying that the actual days are going down on average which a Weekly chart would most likely tell me the same. I am just looking at it from an ants perspective as compared to an elephants.
I'm averaging into a long at 47-52 ES with a stop at 39 and open target
Catching the knife for us huh. When you start turning it around I will jump on the band wagon.
Sold 1154. Stop @ 1157. Will consider reversing above that or scratch it for a smaller loss if I see a bottom.
Cant say I like that.
Stop @ 1155.
Possible support @ 1150 now. Willing to risk a point for a break though.
10:00am USD
Philly Fed Manufacturing Index
[Open Detail] -30.7 4.0
3.2
This help you like crazy.
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