ES Journal Archive (2011)

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Quote from Laissez Faire:

If one believes in chart patterns, there is now an ascending triangle on the 5-minute and that one is supposed to be a bullish pattern.

The current 50% level is the resistance level above.

In the event that the pattern fails, I guess we head lower.
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... or a bearish flag...

Not picking an argument with you, LF :p :)
 
Quote from Laissez Faire:

Long @ 1187. Stop @ 1185. Target minimum 1191.
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This trade can be discarded for journal integrity purposes since this is a late entry with regards to my stop :p

I chased on my entry, since I thought we was leaving 1186,50 behind for good. Chasing the ES is seldom smart. I prefer chasing skirts :)

Price is still respecting the trend line though, so I widened my stop to 1184 just in case :(

Maybe the 20-EMAs above have the potential to act as resistance now.

I`m just a little disappointed that I did not hold my long from 1182 :)
 
Quote from Picaso:

... or a bearish flag...

Not picking an argument with you, LF :p :)
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The subjective nature of technical analysis :)

If one looks at NQ, it is far beyond it`s daily highs now. It already tagged it`s previous day low and may even fill the complete gap today.

That makes the argument for a trend sell day in the ES even harder at this point, no?
 
Everyone expecting the usual sell-off after an Obama speech. I remember going through the same trades with Bush speeches. But one day, it changed, and shorts got hurt. Always keep this in mind: when a pattern becomes too crowded, it changes. We will see if today is that day.
 
Quote from Laissez Faire:

If one looks at NQ, it is far beyond it`s daily highs now.
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Opening range high is more like it :)

I think I will hold my long all the the way to 1200, unless 1191 acts as resistance.
 
Quote from Laissez Faire:

The subjective nature of technical analysis :)

If one looks at NQ, it is far beyond it`s daily highs now. It already tagged it`s previous day low and may even fill the complete gap today.

That makes the argument for a trend sell day in the ES even harder at this point, no?
More...

:)

We're at the opening (gap) price. Let's see where we go now.
 

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NDX 200 dma is at 2290, NQ 2284/2285. Current resistance. Let's see how hard the pullback is from there. If it is on volume and impulsive, look out below. If it is shallow, shorts will get nervous.
 
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