ES Journal Archive (2011)

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Bids are holding, but I'd rather sellers just stop selling if I am looking long. Still too much net selling compared to buying for a good long for me yet. 85 is VAL for the day currently, and we failed to break 87, which is high volume price for the day, to get back up into 90s territory (POC).
 
Quote from tortoise:

1184.75 is the low of today's value area, tested as europe closes. Now PPT is in the driver's seat?
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That may very well happen. :)

Don`t see it yet though.

This current action will either appear as a retrace in a down trend that extends much lower or a second test of the lows with the potential of a higher low from here.

I don`t generally trade off feelings, but I`m feeeeeling that we break here. :)
 
Quote from tortoise:

I'm taking a long here, but have no faith in it.

1150 is in the cards if we don't hold this level
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You`re funny. Don`t you ever have any faith in the trades you enter here? :)

Using a tight stop, it can be very profitable, but I don`t know. Don`t see any strength yet, so I would bet on lower, although it is taking some time.
 
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