ES Journal Archive (2011)

NoDoji · Mar 21, 2011

Quote from tomahawk:

Frankly I'd rather hear someone's hairbrained analysis than a simple trade call, because as it relates to other traders, a trade call without the slightest bit of analysis is basically useless to everyone. In fact it really is just one more opinion, one wiithout any meat whatsoever to the observer.

Anyway, carry on, and let's try to keep it positive.

My hairbrained analysis:

Price smack up against the falling 20-day EMA on the daily chart off a confirmed reversal pattern (lower highs and lower lows + trend line break). Previous support around 1298.00 appears to have become resistance.

Technically speaking, this is an ideal anticipatory short entry level for a swing trade.

RichardRimes · Mar 21, 2011

Quote from NoDoji:

My hairbrained analysis:

Price smack up against the falling 20-day EMA on the daily chart off a confirmed reversal pattern (lower highs and lower lows + trend line break). Previous support around 1298.00 appears to have become resistance.

Technically speaking, this is an ideal anticipatory short entry level for a swing trade.

Just curious NOD...I know you don't swing on the CL...do you on ES? Do you have a tick target on the swing ...IOW exactly how do YOU define swing? (over nite...few days) thanks.

cashcarewins · Mar 21, 2011

Quote from Pekelo:

Except the unfilled upgaps left behind, any AH movement was retraced and remade during RTH. [/B]

Tautology defined.

angel_king · Mar 22, 2011

looks to me like a really well formed perfect immaculate could not be any better

bull flag

buy the breakout if it happens tonight or tomorrow and sell when it tops out.

angel_king · Mar 22, 2011

the nicely formed bull flag magically transformed into what might be a hideous double top. but the market is not open yet so things may change.

jurmajesty · Mar 22, 2011

I always watch closely the century marks. NQ has been attacking 2250. If we break thru, how low can we go? Right it is down til it is up. 1 hour times are important. It is 6:00, candle nice green. Money in bank, ride.

jurmajesty · Mar 22, 2011

First exit with most of cars. Ride with balance, scaling out as it dictates by the price patterns.

NoDoji · Mar 22, 2011

Quote from RichardRimes:

Just curious NOD...I know you don't swing on the CL...do you on ES? Do you have a tick target on the swing ...IOW exactly how do YOU define swing? (over nite...few days) thanks.

I define a swing trade as one or more overnight holds to capture profit from an individual price swing (in this case tests of, and breaks of, previous daily lows 1274.75, 1261.50 and 1241.75).

If I took a short at these levels, my initial 1301.00 stop would now be lowered to 1297.00 (just above the fbo price from the overnight session).

I don't swing trade futures.

RichardRimes · Mar 22, 2011

tortoise · Mar 22, 2011

Quote from tomahawk:

In the absence of tortoise, I'll throw out a wild guess ... he means one lots.

"Single prints" are market profile terminology. Basically, a single print occurs when price hits a certain level during one 30-minute period in a given session without revisiting that level for the rest of that session.

I was musing about how that rise almost seem manufactured to discourage a single-print seeking retrace ...