ES Journal Archive (2011)

[gmst]

Quote from Laissez Faire:

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.

am still new to ES....trying to understand....haha....many many thanks for your clear explanations.

50% level here was 1234...correct ? and you are referring to it that price touched it and came back from below. After the reversal that lasted for 5 minutes or so, price broke through the level and has continued to go up.....correct ? if correct, can you pls once define for me again how you compute the 50% level...thanks

 

[ammo]

shorter term it may retest that neckline at 1 3550,just follow the eur

 

[gmst]

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.

out 1237, probably , rather most probably i should have waited for a more meaningful target....but so much waiting here in this zone is somehow reduce the chances of this trade going higher in my eyes.

I thought this trade shuld have worked quicker...so based on time factor i am out with a 1 pointer on this one also.

alright now it is at 1238...i needed 1 more minute to stay in the trade

 

[GordonTheGekko]

Quote from GordonTheGekko:

How's everyone doing?

Long ES and EUR/USD, but of course this is just for a few minutes...

Short now

 

[emg]

plan on going long 1211.75

 

[gmst]

DOM skew negative -2.5k

euro price chart looking long, es price action looking short

divergence...so sit out

 

[Laissez Faire]

Quote from gmst:

am still new to ES....trying to understand....haha....many many thanks for your clear explanations.

50% level here was 1234...correct ? and you are referring to it that price touched it and came back from below. After the reversal that lasted for 5 minutes or so, price broke through the level and has continued to go up.....correct ? if correct, can you pls once define for me again how you compute the 50% level...thanks

The mid point between the current high and low? Surely you know how to calculate that? Either manually or in your charting software?

When the 50% level lines up with other levels and even the 20-EMA, it is usually very good support.

NQ went back to red and below the opening range low though, but it has been comparatively weaker all day and they are moving pretty much in sync so it may be a false alarm, unless it is an early warning of a pending reversal. Hard to say.

Still a nice gap below as well.

 

[GordonTheGekko]

Long eur/usd 1.610

 

[GordonTheGekko]

Quote from GordonTheGekko:

Long eur/usd 1.610

out

 

[gmst]

Quote from Laissez Faire:

The mid point between the current high and low? Surely you know how to calculate that? Either manually or in your charting software?

When the 50% level lines up with other levels and even the 20-EMA, it is usually very good support.

NQ went back to red and below the opening range low though, but it has been comparatively weaker all day and they are moving pretty much in sync so it may be a false alarm, unless it is an early warning of a pending reversal. Hard to say.

Still a nice gap below as well.

thanks for explanation....25L, 43H, so mid is 34....just wanted to verify that you and I are on same page.