ES Journal Archive (2011)

Status
Not open for further replies.
Quote from gmst:

sorry, but you got stopped on that one. I am curious though why you have been looking for a bounce here ? in such extreme 20:1 volume with the fundamental completley bad news out of europe.

In the larger picture, the whole rally from 1180 to 1280 was on european problems getting solved, now since everything is wide open again and MF going down, its only logical that we not only retrace the whole rally but indeed go lower than 1180.
More...

yes stopped at 1213.25 -- well, the whole first hour of trading was strongly up. I'm not trading well today.

To make it worse, I think it's due to the fact that I shorted 4 ticks from the high but stopped out, and then reshorted 23.25 only to get stopped out 3 ticks from that local peak before the move down. Getting stopped out is hard for me to take when it's only by a few ticks.
 
Quote from gmst:

In the larger picture, the whole rally from 1180 to 1280 was on european problems getting solved, now since everything is wide open again and MF going down, its only logical that we not only retrace the whole rally but indeed go lower than 1180.
More...

Sounds reasonable. Do you trade the euro?

Looks like it`s finding some support in this 1,3600/650 zone for now? Would need to clear that first before getting ugly or what do you think?
 
Quote from Laissez Faire:

Sounds reasonable. Do you trade the euro?

Looks like it`s finding some support in this 1,3600/650 zone for now? Would need to clear that first before getting ugly or what do you think?
More...

Yes I have been short euro from 1.39 - covering and shorting again and again. The days range for euro for yday and today is > ATR. thats why its stalling now. I think the game is how fast and far ES falls now - euro will mostly act in a highly correlated fashion.

But fundamentally, I think we are going to see 1180 in ES tonight's overnight session or tomorrow at worst.

Edit: I could be wrong though, have limited experience with ES
 
Quote from Laissez Faire:

I think the test of the 50% and 20-EMA from below may have been the good short re-entry.
More...

Well, you could have said that 3 bars ago... :D :p

Yes, I saw it, but I was expecting some chop (30-40') to be honest... :(
 
Guys bear in mind 1187 is possible today. We saw a couple 2-day drops of 100 pts back in early August. This hasn't yet retraced 50% of the big October rally.
 
Status
Not open for further replies.
Back
Top