ES Journal Archive (2011)

[tomahawk]

9/8 gap 80.50 very likely to hit ... SPY is almost there.

 

[crazyAtrader]

Quote from tomahawk:

9/8 gap 80.50 very likely to hit ... SPY is almost there.

Absolutely, which makes me wonder, why these people are shorting before the gap fill, inexperience I guess.

Crazy A

 

[DanS]

Stopped out.

 

[Macho]

Quote from Macho:

Short 1 at 117350

Stop 117750

Profit goal 116600

Stopped , but is was a bad mistake on my part. I should have taken a reverse trade at 117525 but didn't trust the weak volume.

Have to take the trades as I see them not what i think in future.

 

[marceck]

Quote from Macho:

Stopped , but is was a bad mistake on my part. I should have taken a reverse trade at 117525 but didn't trust the weak volume.

Have to take the trades as I see them not what i think in future.

As a rule, never short ES if NQ has made a new high and ES hasn't. This is a basic tenet I have taught traders throughout the years, especially once you get past 1:30. That is not to say it isn't a short later on, just be aware of that timing.

 

[traderrn]

Quote from crazyAtrader:

Absolutely, which makes me wonder, why these people are shorting before the gap fill, inexperience I guess.

Crazy A

I thought you had posted a while back saying gaps don't need to be filled. Are there other rules in force when seeing which gaps are to be respected?

 

[volente_00]

Looking for a move down from 87-90 area on cash.

 

[marceck]

Quote from traderrn:

I thought you had posted a while back saying gaps don't need to be filled. Are there other rules in force when seeing which gaps are to be respected?

Yes, see my post right before yours.

 

[crazyAtrader]

Quote from traderrn:

I thought you had posted a while back saying gaps don't need to be filled. Are there other rules in force when seeing which gaps are to be respected?

Everything is always dependent on price action.

Crazy A

 

[DanS]

I don't understand your 9/8 gap. Please explain.