ES Journal Archive (2011)

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Quote from gmst:

long 36, probably should hae waited for a pullback but am willing to hold it with a pullback....reason i think we go higher from here....i could be wrong.
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Actually, it depends on how much risk you are willing to assume per trade. It looks like it is picking up some momentum now. ES does that at times and never looks back, but one usually gets the pullback.

That is why I missed this move, because I`ve worked hard to avoid chasing and entering on an extreme, getting stopped out on the pullback.

Still hoping for a pullback from here.
 
Quote from Laissez Faire:

Actually, it depends on how much risk you are willing to assume per trade. It looks like it is picking up some momentum now. ES does that at times and never looks back, but one usually gets the pullback.

That is why I missed this move, because I`ve worked hard to avoid chasing and entering on an extreme, getting stopped out on the pullback.

Still hoping for a pullback from here.
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Thats a good point actually.

If we do get a pullback, how deep do you expect the pullback would be ?
 
Quote from gmst:

Thats a good point actually.

If we do get a pullback, how deep do you expect the pullback would be ?
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50% and opening range low (prior resistance) is at 33,50-34. Often acts as support to the tick, some times gets overshot. Other times does not even pull back that far. So, it`s hard to say.

I look at NQ also, so may get a warning there. NQ currently trading at yesterday`s close which is also an important level.
 
Quote from GordonTheGekko:

How's everyone doing?

Long ES and EUR/USD, but of course this is just for a few minutes...
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correlation is almost 100%....so no use paying multiple commissions
 
With regards to the 50% level, see how we reversed off it to the tick and would have put you instantly in the red?

What I`ve learned is that the 50% very often acts as an accurate reversal point, even if it`s just a quick reversal for a few miutes.

After it`s tagged, a buy stop at that level would have been more valid (and profitable as we can see now) since a true reversal off the 50% would usually not make us trade that high one more time.

Makes sense?

Maybe not. :confused: :p
 
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