ES Journal Archive (2011)
- Thread starter Buy1Sell2
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Lately beside the technicals too many other things going on, but if I have to guess, it looks like that we broke out of the 4-5 weeks sideways movement 2 days ago, and this morning we just tested the former support, now resistance. So more downside, one could use this morning's high as a stop loss....
PP and Friday`s 50% below would be the next target if we don`t find a bottom here already.
Will look to enter a long if we do, targeting the complete gap fill above @1159 by end of day.
Higher lows already made, but does not look too tempting to enter long yet.
Will look to enter a long if we do, targeting the complete gap fill above @1159 by end of day.
Higher lows already made, but does not look too tempting to enter long yet.
So, is anyone entertaining the idea of a trend day and a target of last week`s low (or lower) for the day?
It looks like a trend day at this point, but personally, I`m looking to see what happens around 1125.
I notice that being flat currently bias my perception, since I`m entertaining the idea of entering a long from this area. Currently, that would be catching a falling knife though.
Entering a new short on a retrace should provide a nice profit target if it turns out to be a trend day.
Basically just talking to myself here
EDIT: NQ is looking very heavy. Maybe we see a test of Friday`s low there.
It looks like a trend day at this point, but personally, I`m looking to see what happens around 1125.
I notice that being flat currently bias my perception, since I`m entertaining the idea of entering a long from this area. Currently, that would be catching a falling knife though.
Entering a new short on a retrace should provide a nice profit target if it turns out to be a trend day.
Basically just talking to myself here
EDIT: NQ is looking very heavy. Maybe we see a test of Friday`s low there.
Quote from Laissez Faire:
So, is anyone entertaining the idea of a trend day and a target of last week`s low (or lower) for the day?
It looks like a trend day at this point, but personally, I`m looking to see what happens around 1125.
I notice that being flat currently bias my perception, since I`m entertaining the idea of entering a long from this area. Currently, that would be catching a falling knife though.
Entering a new short on a retrace should provide a nice profit target if it turns out to be a trend day.
Basically just talking to myself here
EDIT: NQ is looking very heavy. Maybe we see a test of Friday`s low there.
I'm looking at what it does around here too. NQ's new lows will not help longs. If I decide to go short I'll wait for a pullback to the 5' 20 EMA.
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