ES Journal Archive (2011)

[tortoise]

Quote from Laissez Faire:

IHS remains intact, unless lower from here.

Brave longs may enter now, but I`m waiting for 88 or so, I think.

I'm hanging in there (although I have no faith in it, did I mention that?) because ... well, fuck it: Just because...

 

[JoshDance]

> 85 => looking long
< 85 => looking short

 

[bigsnack]

Quote from JoshDance:

Yes -- at top of lower distribution, heavy net buying, could not break above 86.50 with authority. Potential for a short to return to 82 or lower IMO. But bulls in control at the moment, so selling will have to come in pretty strong.

For me, the setup always looks the same, so if it has a similar look / feel to it, but you never get the proper entry, I am immediately wary. For me it should go something like this:

1. You know, it kinda looks like...
2. Wait yup, that's right, I should try go get it in at XX price.
3. There it is, filled.

If there is any time to mull it over, I immediately give up and move on.

 

[Laissez Faire]

Quote from tortoise:

I'm hanging in there (although I have no faith in it, did I mention that?) because ... well, fuck it: Just because...

Does not look too shabby, from here.

Basically, I see two immediate scenarios from here. IHS completion taking out the neckline around 87 with a target at 93,50 from the formation alone. Think we will trade higher than that though.

Next is taking out the current lows and selling off down to 70 or so. Could still make one push down and have a IHS as long as it`s a higher low.

Any ideas?

 

[bigsnack]

I had a limit order long at 84.50's, it didn't fill.

Cancelling order.

 

[Liverless]

IHS completed in the 5Minute chart

 

[tortoise]

Quote from Laissez Faire:

Does not look too shabby, from here.

Basically, I see two immediate scenarios from here. IHS completion taking out the neckline around 87 with a target at 93,50 from the formation alone. Think we will trade higher than that though.

Next is taking out the current lows and selling off down to 70 or so. Could still make one push down and have a IHS as long as it`s a higher low.

Any ideas?

very dicey at the moment. hold please...

[edit: peak volume price is 1185...watch that]

[2nd edit: does anyone know when the not-so-supercommittee makes its announcement?]

 

[Laissez Faire]

Quote from tortoise:

very dicey at the moment. hold please...

[edit: peak volume price is 1185...watch that]

If I were a brave long, I would hold my trade risk free with profit at this moment. However, for now we need to take out the neckline in order to get a confirmed long.

The thing is, this still looks like a consolidation on higher time frames, so I`m not convinced that we go higher yet.

Not an expert on patterns, but breaking below the right shoulder from here and I think the pattern is invalidated.

 

[tortoise]

Quote from Laissez Faire:

If I were a brave long, I would hold my trade risk free with profit at this moment. However, for now we need to take out the neckline in order to get a confirmed long.

The thing is, this still looks like a consolidation on higher time frames, so I`m not convinced that we go higher yet.

Not an expert on patterns, but breaking below the right shoulder from here and I think the pattern is invalidated.

ok, fwiw (probably nothing), i just now got an official trend-change flash from my sooper-dooper black box algorithm (which is, no doubt, not worth a tinker's fart, but there it is...)

[edit; e.g., trend change to UP for the rest of the day]

 

[Laissez Faire]

Quote from tortoise:

ok, fwiw (probably nothing), i just now got an official trend-change flash from my sooper-dooper black box algorithm (which is, no doubt, not worth a tinker's fart, but there it is...)

[edit; e.g., trend change to UP for the rest of the day]

You got a black box? Please tell more.

I`m ready to bet money on a breakout from here, based on my prior analysis and your black box.