ES Journal Archive (2011)

[JoshDance]

ready to break TL?

http://screencast.com/t/F9KZTYOiWj

 

[Laissez Faire]

Quote from JoshDance:

what a difference one tick of wiggle room can make... 63.25 would have had me stopped out for +1 point, 63 gave it that room to give me 4.25

My primary goal this week is to have better stop placement, hopefully can make some improvement in that area this week.

Absolutely.

It depends on the set-up. There are some entries where it does not make sense to use anything more than 1 point.

Most set-ups need some wiggle room though. 2 points is not a very wide initial stop on ES.

It is tempting to use small stops, but in my experience it often leads one to bleed to death by a thousand paper cuts.

 

[Laissez Faire]

I`m not getting a good read on this action.

NQ reversed off it`s 20-EMA to the tick.

I thought prior resistance at the 50% should act as support, but apparently not.

Not taking out the morning highs was also interesting.

As usual, it can be simply a deeper pullback than I personally expected, trapping in some early shorts, shaking out weak longs.

 

[JoshDance]

will support from thursday hold again like they just did, or will we look down into 40s?

http://screencast.com/t/ThKPzJdueLA

 

[bigsnack]

60.75's will have to break, but this is my current target for the short (59.75's). Based on volume profile though, it looks like it will either not get there, or blow right through.

 

[Picaso]

Quote from bigsnack:

60.75's will have to break, but this is my current target for the short (59.75's). Based on volume profile though, it looks like it will either not get there, or blow right through.

I like 56-57 (slightly higher than LF's 50% level)

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Bonds pushing higher intraday, but still in a downtrend in the daily

 

[macho grande]

Aloha traders!

Tight narrow range so far huh?

 

[Laissez Faire]

Looks strong.

1st low put in 1 point above Thursday`s low.

2nd low 1,25 points higher than the 1st low.

If we were to sell lower, why not already?

Gapped up on the 1-minute also now.

 

[Picaso]

Interactive Brokers' intraday wild ride today

(They were in negotiations to buy a billion in assets from now-bankrupt MF, but the negotiations have failed)

From up 7%??? back to flattish

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Quote from Laissez Faire:

If we were to sell lower, why not already?

To trap more longs?

There's volume in this bounce, though; the DOM is skewed and TICK is now looking strong, plus possible trendline break

 

[Laissez Faire]

Mini gap fill at 65. Could be a nice long.

Still in a narrow range here, but yes, does not look very weak at the moment.