Yes, this is very nice up with all eminis participating. The 3:00 cst apex was too obvious as the "zero starting point" of the new run, live or dead. If we have no bias up or down, reality sets in when the medium head and shoulders pattern formed and broke out/broke neck. ES century mark. Shooting star. hanging man. ?? Indicating pullback/reversal at century, very strong here, but if in trade it is up til it is down.
ES Journal Archive (2011)
- Thread starter Buy1Sell2
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If we draw a 45 degree line from the bottom at 3 am to top of screen we have the answer when 45 is crossed with candle bodies for slow but sure entry, most of time. that is century old stuff. overnight especially the 30 min and 15 min chart beats the 5...Moves like this make them all look good. All but the countertrend systems.
For those who deny "trend", look real close, and note the countertrend entries, versus the ones with the trend, even blindly with the trend high or low. Of course buy low sell high with trend is always the wise trader choice.
Final question. Is the channel up or down? I always ask myself the final question. see the answer without lines. if answer is up then wait for the sell. 15 min channel...5 min is why most cannot make it in this business. It will scream in a direction and trap the weaker traders. Have u noticed most scalpers use 5 min chart and most 5 min chart users are scalpers. hard run slow turn..
For those who deny "trend", look real close, and note the countertrend entries, versus the ones with the trend, even blindly with the trend high or low. Of course buy low sell high with trend is always the wise trader choice.
Final question. Is the channel up or down? I always ask myself the final question. see the answer without lines. if answer is up then wait for the sell. 15 min channel...5 min is why most cannot make it in this business. It will scream in a direction and trap the weaker traders. Have u noticed most scalpers use 5 min chart and most 5 min chart users are scalpers. hard run slow turn..
If we do not have patience, we need to find some.
SLD 9825...Target 9550
will ADD, if necessary
NiN
will ADD, if necessary
NiN
Long term prediction coming, based on the weekly chart:
The SMA 9 line is around 1310 SPX, and I think that would act as resistance. From there we would start to drop and visit the lower BB line, around 1220....
We could reach 1310ish today and downhill from there, but no later than next Mo-Tu...
So in ES 1304ish is a nice area to get short for a swing drop....
The chart showing the typical, reversal to the mean play...
The SMA 9 line is around 1310 SPX, and I think that would act as resistance. From there we would start to drop and visit the lower BB line, around 1220....
We could reach 1310ish today and downhill from there, but no later than next Mo-Tu...
So in ES 1304ish is a nice area to get short for a swing drop....
The chart showing the typical, reversal to the mean play...
As planned. flat now, but now where?
edit: add..thanks for the chart pek.
45 degree line???? it is not rocket science
ADD at 130225...
NiN
Monthly, weekly and daily resistance level at 1302 upto 1306 for ES.
Reaction to the zone will tell if the mkt will go lower on daily from here.
Reaction to the zone will tell if the mkt will go lower on daily from here.
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