ES Journal Archive (2011)

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Quote from Pekelo:

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....

5b5l09.png


The chart showing the typical, reversal to the mean play...
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you are wrong. es went up. still can't read the chart after more than 5 years in ET.
 
Pekelo,

Your projected price move was wrong. Big deal. There are no 100% traders out there. Porgie used to tout the 100% stuff. He, no doubt was lying, and gone forever hopefully.
Here is a candlestick reader's point of view. See firstly the nice hammer as the next to last bar, then the anomaly moribozu candle, meaning no wick either end, meaning stalemate. Real deal is the hammer. Knowing the setup as I do, the hammer was the buy low big deal. The answer for you on that setup was to wait for the next bar or 2 on the 15 min chart. Patience. Draw a 45 degree line and never trade against it but one time per run, if you are good enough to recognize the true apex, the true starting point of the new run and the end of the old run. That will always be trading against the 45 degree line. The 15 min chart will show this much clearer than the 5 min. but the 45 on all charts work for a basic understanding of the trends/runs. Remember, woulda coulda shoulda heroes are a dime a million here.
 
Quote from jurmajesty:

I trade the TF only. All runs begin and end with a donut hole at the apex old run/zero starting point new run. today the beginning and the end gave reversal bar patterns just like it does every run. Like the $1100.00 run this morning, 1 contract. thanks for the kind words V.....sounds like you have arrived.
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Can you post an annotated chart, for the benefit of those of us vision-impaired, profit-seeking folks?.

-donut hole
-apex
-zero starting point
-reversal bar patterns

TIA.
 
Quote from aquarian1:

I wondering if the o/n spike was taking out the stops and readying the market for a fall?
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That's what I thought. Also that 15K order could have been short covering, not just going long buy...
 
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