ES Journal Archive (2011)

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Triangular formation on the 1-minute. I think I`ll trade a break either way.

Breaking to the upside, we could once again fail at yesterday`s highs or potentially burst through and go higher.

Breaking to the down side, I would at least be looking for 1100 if the current lows don`t hold.
 

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Quote from Laissez Faire:

Anyone else thinking we will likely trade roughly down to Monday`s lows before potentially going higher?
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If you squint your eyes, on the 60m chart it all looks like a bull flag
 
Quote from EON Kid:

If you squint your eyes, on the 60m chart it all looks like a bull flag
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Hell yeah. Looking good from here :)

The squeeze continues I hope. I would prefer 1120 to act as support now.

1125 next.
 
Pulling back to the 50% level here.

Not sure if it is a normal pullback or if we failed at the highs.

The last swing was beyond average though, so a pullback was due anyway.
 
Quote from Laissez Faire:

Anyone else thinking we will likely trade roughly down to Monday`s lows before potentially going higher?
More...

Who know's. Anything can happen in this market given news.
 
Double top already?

Been taking a few scalps this morning, not commiting to anything.

Will see if a pullback to the 50% can provide a low risk long. Yesterday`s high still not acting as clean support.

Failure at the 50% and I`m ready for the ride down to 1100 :)
 
Sold 1123. Stop @ 1126.

Attempting to pick a top here. May get punished or rewarded for that :eek:

I still think we`re due to trade much lower either today or later in the week, but I may of course be very early as usual.
 
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