ES Journal Archive (2011)

Status
Not open for further replies.
Quote from gmst:

long 1150.75, we are probing 20ema....and there hasn't been any quick followthrough on downside movement... .tight stop here: 1149.25
More...

With not much buying interest when you bought, I'm curious as to why you did not see if 51 broke up, and buy 51.25, or else buy 50 or so, near the bottom of the range? In addition, while no quick downside movement, practically no buying either :(

Just asking, always looking to learn from others.
 
Quote from JoshDance:

With not much buying interest when you bought, I'm curious as to why you did not see if 51 broke up, and buy 51.25, or else buy 50 or so, near the bottom of the range? In addition, while no quick downside movement, practically no buying either :(

Just asking, always looking to learn from others.
More...

Josh, I am not sure you want to learn from me since I am still very fresh at ES and myself learning how to trade it intra-day. Basically, I am applying the learnings I had in the fx market to the ES market as far as price action is concerned (key things being: important numbers/levels, momentum/followthrough/time of day, previous day HOD/LOD etc.).

The main premise for that trade was 20 EMA and if price has to go up to touch upper levels, 20 EMA should act as the natural level to bounce from. Price was already 0.25/0.5 point below 20EMA at the point when I bought, so I wasn't sure waiting for confirmation will get me in at a better price. Also, Euro was probing 1.35 from above and its a natural support for euro buyers also to come in. This explains my rationale for the trade.

In any case, you would have noticed that now I have reversed direction, since price breached 20EMA pretty clearly and I could see some follow through + tick reading also, which invalidated my logic to be long and rather suggested that I should be short.

Not sure if it really helped. Cheers
 
IB high and prior support holding so far, though not really tested well yet. Thrusts shorter. Looking for a long, if 48 continues to hold. Need to see a bullish move up first, preferably above 50, then will look to buy.
 
Quote from Laissez Faire:

Next intraday support at 48,25.
More...

God, I`m good. :D

Not willing to buy it though as I try to stay out when I`m clueless.

A break would be nice though. That would perhaps be more convincing?

Or is the gap above still a magnet? :eek:
 
Quote from tortoise:

interesting confluence here... vwap + weekly pivot + peak volume price for this past opex month
More...

That`s very interesting indeed.

Maybe we plot different hours, but I have last weeks pivot at 53,25 and last week`s 50% at 49.
 
Status
Not open for further replies.
Back
Top