Quote from Laissez Faire:
The previous bear flag was a 6 point swing, giving us a measured move back up to 1299,50 from here, which is the 20-EMA as well.
One of the possibillities if we find a short-term bottom here.
1299.50?
ES Journal Archive (2011)
- Thread starter Buy1Sell2
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1299.50?
Short term bottom just may be in??
Anyone in the market at the moment?
I will not bother anyone with my hindsight trades beyond the loss I took earlier this morning, but I`m currently flat.
Considering the current action, I think the only acceptable entry for me would be a short on a 6 point counter-trend swing up to the 20-EMA with a low risk entry.
If that does not materialize, maybe a confirmed entry with a sell-stop one tick below the current lows and aggressively trailing my stop or getting out if it is a fake break.
There are some potential turning points and bottoms here around 90 I guess, so it may be a risky entry, but 82 would be oh so nice by end of day.
I will not bother anyone with my hindsight trades beyond the loss I took earlier this morning, but I`m currently flat.
Considering the current action, I think the only acceptable entry for me would be a short on a 6 point counter-trend swing up to the 20-EMA with a low risk entry.
If that does not materialize, maybe a confirmed entry with a sell-stop one tick below the current lows and aggressively trailing my stop or getting out if it is a fake break.
There are some potential turning points and bottoms here around 90 I guess, so it may be a risky entry, but 82 would be oh so nice by end of day.
i MAY take a shot long with a tight stop if we retest here; everything must line up just right
After the short earlier, I have been watching on and off, but I haven't taken anything live. I'm in a SIM long from 94.75's, with a target up at 1201's if this thing decides to actually reverse with some conviction.
TICK is starting to close above 600 so I wouldn't be feeling good about a short until we see some sort of resurgence from the bears.
S@1197.25
St@1201
St@1201
Sold 1198. Stop @ 1201. Target below 1190.
Goodbye.
Goodbye.
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