ES Journal Archive (2011)
- Thread starter Buy1Sell2
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Nice short-term trading range between 1280 and 1283. As always, I`m looking to buy or sell or fade a breakout of such a range when it happens.
To the upside, a test of the daily highs @ 1288 or the 1290 level is likely.
To the downside, we would fill the gap @ 1277,50, but could probaly see 1275 or even 1268. I do not anticipate a strong move though.
7 of my 9 sectors are in the green, but not very strongly. The NYSE TICK MA is also oscillating around zero, although there are more negative extreme tick readings than positive, but not overwhelmingly so.
NASDAQ TICK has stayed below zero for most of the day consistent with the down trend, but it`s MA is sloping upwards and currently at zero.
Stay tuned....
To the upside, a test of the daily highs @ 1288 or the 1290 level is likely.
To the downside, we would fill the gap @ 1277,50, but could probaly see 1275 or even 1268. I do not anticipate a strong move though.
7 of my 9 sectors are in the green, but not very strongly. The NYSE TICK MA is also oscillating around zero, although there are more negative extreme tick readings than positive, but not overwhelmingly so.
NASDAQ TICK has stayed below zero for most of the day consistent with the down trend, but it`s MA is sloping upwards and currently at zero.
Stay tuned....
You better off not predicting it.
Why does it have to crash ?
Why cant it continue making HL and HHs like the good old uptrend that it is ?
The people making money are those that continue to buy the dip and dont worry about the crash.
Only the newbies and losers of the board search for tops and bottoms frantically.
Examine the people of this journal making the easy money, what do they do ? Now examine the ones picking the tops, what do they do ? Take losses or average down like lunatics.
Follow the easy money.
Apparently someone erased my response to you. Here's a variation:
Had you sold a full 5 minutes AFTER I posted (not after I traded because I sold an average of 3 ticks from that same top you were looking at), you'd have had a BE or a profit of 2 points covering at the previous LOD, or a partial short or whatever. Instead you decided to sell with all the other laggards 3 ticks from the bottom (NOW???) and rake a 1.5 point loss afterwards.
So...put it in your pipe and smoke it this weekend, and start thinking how you can actually sell near the top instead of chasing crap, and auditing your seniors.:eek:
Short @1281. Stop @ 1283.
Out @ 1280,50. + 0,5.
Price action did not validate my trade idea. Will still have the possibility to re-enter if something happens today.
May even close within the range.
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