ES Journal Archive (2011)
- Thread starter Buy1Sell2
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Guess not.
Probably need to read that thread again.
Well, if he waited to enter either long or short after the market broke out instead of anticipating, he made a nice long trade around 1292, targeting a test of yesterday`s high around 1300, currently trailing his stop to 1295,50 on the ride up, locking in at least 3,50 points.
Maybe he will look to re-enter around 1295 if he gets stopped out. Might even look to enter a short around there, since 1295 is a R10 from the daily lows
A purely hypothetical example
Maybe.
Personally, I would want to wait for price to at least dip below 1295 before considering it. 1300 is also very close now.
Supreme entry if price turns though. Using a tight stop?
Pekelo
Registered: Aug 2005
Posts: 7086
New Post 03-11-11 04:30 PM
Quote from angel_king:
the market will be going up real soon
Quote from angel_king:
could also break down.
Marvelous....
whadaya want? most of the patterns say something will happen but are ambiguous as to the outcome. when it broke out I traded it I got 4 es points and when it hit the resistance line I got out now its time for the 1 hour sit on my azz and wait for the market to get done thinking then move again thing I said "will" with a possibility of "could" and that gave more weight to the upside because I am in full control of the market you know
Registered: Aug 2005
Posts: 7086
New Post 03-11-11 04:30 PM
Quote from angel_king:
the market will be going up real soon
Quote from angel_king:
could also break down.
Marvelous....
whadaya want? most of the patterns say something will happen but are ambiguous as to the outcome. when it broke out I traded it I got 4 es points and when it hit the resistance line I got out now its time for the 1 hour sit on my azz and wait for the market to get done thinking then move again thing I said "will" with a possibility of "could" and that gave more weight to the upside because I am in full control of the market you know
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