ES Journal Archive (2011)

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Quote from macho grande:

the problem is doesn't take into acct MOMO.

i believe wholeheartedly in certain S/R zones but market action right NOW, may trump those zones? yes, no? :confused:

isn't it how MA (market action), whats happening right now, plays against historical S/R zones that really matter to the intraday??
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sure ,but wouldn.t you like to know those areas before we get there so you are not buying 31.5
 
Quote from ammo:

sure ,but wouldn.t you like to know those areas before we get there so you are not buying 31.5
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Danger is seeing an area of interest, whether it be through traditional s/r, trendlines, profiles, or whatever, and then trying to fade that thinking that it magically will work. Sometimes it does, sometimes it doesn't. Current price movement and market sentiment trumps all of that. I took two trades today, and am breakeven because once it worked well enough for a profit, and once it didn't. Both times I should have waited more. If the sentiment NOW is strongly bullish, it's much better to buy 31.5 than to try to sell it, no matter what happened in the PAST at 31.5.
 
it's on that 30 cash chart,we broke that tl ,uvol dvol is screaming so you would ride the strength ,that 34-38 cash nip said previous heavy buy/sell area, congestion,possible move ending,so a normal trader who gets long and short would be reversing there and holding unless it looked like we were going to take out the 38,and now we traded back down to 35,your looking for a 34 break
 
Quote from JoshDance:

Danger is seeing an area of interest, whether it be through traditional s/r, trendlines, profiles, or whatever, and then trying to fade that thinking that it magically will work. Sometimes it does, sometimes it doesn't. Current price movement and market sentiment trumps all of that. I took two trades today, and am breakeven because once it worked well enough for a profit, and once it didn't. Both times I should have waited more. If the sentiment NOW is strongly bullish, it's much better to buy 31.5 than to try to sell it, no matter what happened in the PAST at 31.5.
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well put josh, better than i

i even hate TLs,

i eyeball a 5 min i know instantly which way i want to play it. :confused:


i literally have no lines or indies on my charts
BUT must also have a couple other key markets up and running in RT too

THE 5 MIN IS THE DAYTRADERS HOLY GRAIL, IMO

everyone uses it :D
 
MachG you would probably do well with just price ladders of same markets? ie xtrader. no charts.

and the 5 min is not the holy grail, but you are close lol : P
 
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