ES Journal Archive (2011)

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The market is once again consolidating. Reversing or pausing, that`s the tough part.

Suddenly, BAM, we can burst through this open space :)

Buy stops above the daily high is one option as we should pick up speed once we trade above there.
 
Quote from Picaso:

I realize that you cannot take partial profits with one car, but have you thought about exiting on extensions and reentering on pullbacks.
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All the time from I wake up till I go to bed :)

The truth is that I`m working on a new methodology and system, but it is a large work in progress, so I`m just sticking along with what I got, although I have considered abandoning trading completely until I got my new system finished.

I already have some understanding of price action, so I could probably become better working those pullbacks and limit orders already.
 
Quote from Laissez Faire:

NQ seems to be holding us back, but who knows :confused:
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hard to see much upside progress from here unless eur/usd busts out of this consolidation box ...

lots of buy stops beckon, but big headwinds at the moment
 
Quote from tortoise:

hard to see much upside progress from here unless eur/usd busts out of this consolidation box ...

lots of buy stops beckon, but big headwinds at the moment
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But EUR/USD is edging higher now, yes?

Do find any advantage in tracking the euro? I occasionally glance at it, but I tend to find that it confuses me more than I gain from it :)

My main issue now is that NQ printed lower highs, but then again, I have been confused by using NQ as well in the past.

ES does looks like it is attempting to go higher.

Large 5-minute bars followed by pullback consolidation and then continuation has been the pattern the last two hours.
 
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