ES Journal Archive (2011)

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Quote from Laissez Faire:

Next stop, 66,50.
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Check. Missed it by 2 ticks.

At 1165, the normal AH range is completed, but as I wrote earlier, trading this low should open the doors for a larger than normal range consider the gap below and lack of support.

Next is half gap @ 1162.

Then the complete gap fill @ 1151.

Hard to not take profits here, but now that the gap fill is in motion I can feel 1151 pulling from below?

Sounds reasonable? :)
 
Quote from Laissez Faire:

Check. Missed it by 2 ticks.

At 1165, the normal AH range is completed, but as I wrote earlier, trading this low should open the doors for a larger than normal range consider the gap below and lack of support.

Next is half gap @ 1162.

Then the complete gap fill @ 1151.

Hard to not take profits here, but now that the gap fill is in motion I can feel 1151 pulling from below?

Sounds reasonable? :)
More...

Hi LF,

I see 1165 -61 area as very good support, till it ain't. I will start building a long position from 65.75 . Two other adds will be waiting at 1156.75 and 1152. Keeping my fingers crossed it doesn't crash below 1150 :)
 
Quote from Laissez Faire:

Check. Missed it by 2 ticks.

At 1165, the normal AH range is completed, but as I wrote earlier, trading this low should open the doors for a larger than normal range consider the gap below and lack of support.

Next is half gap @ 1162.

Then the complete gap fill @ 1151.

Hard to not take profits here, but now that the gap fill is in motion I can feel 1151 pulling from below?

Sounds reasonable? :)
More...


Not sure what you mean by "normal" AH range, but there's nothing to indicate the major move down is complete. We should get a retracement here, though
 
S and P and gold have been trading in tandem for sometime, right now we just saw big drop in ES as gold popped up to 1711. Strange price action all at once.
 
Quote from iloveoptions:

Hi LF,

I see 1165 -61 area as very good support, till it ain't. I will start building a long position from 65.75 . Two other adds will be waiting at 1156.75 and 1152. Keeping my fingers crossed it doesn't crash below 1150 :)
More...

We`re in a middle of a large open gap. Not good support, in my opinion.

1166,50 is the high of the day we gapped away from.

I would consider building your long position from 1150 instead, but don`t be mad at me if we reverse from here.

I just don`t see any support until 1150, so I only observe this as a natural bounce area.

I should add that me personally, I would also wait to see if 1150 will act as support as well. :)
 
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