ES Journal Archive (2011)
- Thread starter Buy1Sell2
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Do you think we might see 26,50 today, Blotto?
Time is running out for the shorts. I think time is on favor of longs here. If you were looking for a big down day.. things aren't looking so good. I'm thinking 1315 1st, 1318 2nd, 1322 3rd target. I think a close around 1317 is still a decent shot. Holding.. also with possibility of a deal over weekend.. holding short be very risky. However that said, I'd like to see us move away from 1308 to the upside, without that we may still close at the lows. I'm also seeing a No Demand Topping pattern. HHmm.. tough call.
Testing the day mid @ 08,50 now. Held to the tick on the first test.
Prior support now resistance?
One thing I was thinking was that would it not be reasonable to believe that with all the risk in the market at the moment, the big players would like to reduce their exposure going into the weekend?
If I were trading today, I might have entered a sell stop @ 1306. If we trade there, we will most likely tag the day low and possibly the globex low as well.
I should add that a buy stop @ 1309 might be a nice trade as well, targeting the previous swing high @ 1312, possibly the day high @ 1314 or higher.
Prior support now resistance?
One thing I was thinking was that would it not be reasonable to believe that with all the risk in the market at the moment, the big players would like to reduce their exposure going into the weekend?
If I were trading today, I might have entered a sell stop @ 1306. If we trade there, we will most likely tag the day low and possibly the globex low as well.
I should add that a buy stop @ 1309 might be a nice trade as well, targeting the previous swing high @ 1312, possibly the day high @ 1314 or higher.
Please don't selectively quote me to make it look like I'm better than I actually am. You've edited out the part about me being inexperienced, overleveraged, and dropping 30% of my net worth in under a month. None of that was particularly intelligent.
I've made a right cock up of several things related to trading, and still get my humbled by the market on a regular basis.
Quote from Laissez Faire:
Do you think we might see 26,50 today, Blotto?
No, not quite that high. DanS made a great call last Friday, and I was wrong.
Most traders are frequently wrong. Nothing wrong about that.
I've cut my size in half. I'm exiting this trade idea on any bounce.
I'm flat in my real money and discretionary accounts. My system always holds until the close. Hopefully, I didn't sell at the lows. I seen an NDT pattern which historically isn't a big move down but has been this week. I decided it is late game situation and to reduce risk.
I was able to exit 1/2 at 1306. I lost 1307 and exit the rest at 1304. We could still close 1307ish but too much risk.
I'm flat in my real money and discretionary accounts. My system always holds until the close. Hopefully, I didn't sell at the lows. I seen an NDT pattern which historically isn't a big move down but has been this week. I decided it is late game situation and to reduce risk.
I was able to exit 1/2 at 1306. I lost 1307 and exit the rest at 1304. We could still close 1307ish but too much risk.
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