ES Journal Archive (2011)

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Quote from ammo:

you would when the longs figured out they had just been gamed
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I'd wait till after they figured out they'd been gamed and they started bailing, not before.
 
Quote from fishing:

market has retraced 70% of the downtrend on daily chart from 1350-1075

does this mean that technically that downtrend should be reversed and we should see a new high above 1350?
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What I really see on the daily is a sharp down trend, then a long period of consolidation and range, and then an uptrend exiting from that. I don't think the "trend" really has been down at all-- the move down was huge, but it was only 10 days. Since then it's been up, and down, and back and forth, and finally up out of it.

Whether we go to 1350 depends IMO on what happens at 1300 - 1310 -- there's a nice big hump there we have to get over. If we get over and establish value above 1310, then I'd say 1325 is logical, and past that hump, then up and price discovery.
 
yesterday, we popped above the HOD before retracing..since today is shaping up a lot like YDAY...

that would screw a lot of traders, wouldn't it? :D

and we got another hour and half to sell this off, should they want
 
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