ES Journal Archive (2011)

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Moment of truth here @ day`s mid and opening range low.

Considered taking 1 point as I don`t see any buying strength yet, but I`m tightening my stop to 1294 and hoping for the best :D

1298-1300 next if higher?

Back to 1292-1290 if lower?
 
Quote from Laissez Faire:

Long @ 1295. Stop @ 1293,50. 1st target is 1298.

Might be risky if ORL and day`s mid point acts as resistance here, so I`m ready to bail quickly.
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Anticipating some choppy action for the next hour, I`m graciously taking an exit here.

Out @ 1296. +1,0.

Grabbing something to eat and a large cup of hot black coffee. Then I`m back for the lunch hour breakout (I hope) :cool:
 
IMO, a double bottom, with a slightly lower low is the ultimate long setup. It's probably my favorite setup of all time. People dump in short on the break of the low, and then they get smashed. Well, by "people" I mean everyone except for us on here of course :)

2011-04-18-TOS_CHARTS-1.png
 
Quote from bigsnack:

Well, by "people" I mean everyone except for us on here of course :)
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Of course :)

What a slow day so far.

I have no confidence in entering a short at this point. A long would be better, but I`m not convinced there either.

Still grinding around the 1295 area on lunch hour volume.

I`m thinking that entering on a strong breakout of 1296, targeting 1301 or higher could be a nice long.

Or waiting for a deeper pullback to enter a long at lower levels.
 
Quote from Laissez Faire:

Of course :)

What a slow day so far.

I have no confidence in entering a short at this point. A long would be better, but I`m not convinced there either.

Still grinding around the 1295 area on lunch hour volume.

I`m thinking that entering on a strong breakout of 1296, targeting 1301 or higher could be a nice long.

Or waiting for a deeper pullback to enter a long at lower levels.
More...

Looking at volume, the last batch of sellers came in around the 93.75 area. I would think that that would likely be the price they would be looking to get out for b/e, so I would expect that area to hold as support if we are going to go higher. .02 of course :)
 
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