ES Journal Archive (2011)

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Quote from bigsnack:

You know me well by now. Inverted H&S with a perfect 50% long for confluence. Seems pretty straightforward to me! :)
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Another good one long at 64, 50%, but to be honest I didn't take it because not enough confirming volume. I was waiting for something along the lines of a stop run down closer to 62s first.
 
Quote from Laissez Faire:

Potential for a major squeeze here?:)
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Sure and I think your smiley indicates this, but you're a bit "short sighted" at the moment I think (haha, get it). :D

Curious, do you watch volume or price only?
 
Quote from JoshDance:

When you wrote this (12:31 ET) I would disagree that "price action" is confirming weakness. Down trending, yes, but the sentiment has not been bearish since the lows were made and the buyers stepped in. Price has not confirmed a long by breaking a prior resistance, and perhaps it won't and will plunge further. But it has had a bullish sentiment from my read for over an hour.

EDIT: as I finish typing this, breaks a new high
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How do you read sentiment?

Is there a way to differentiate between short covering and retracing in an uptrend and a real reversal and bottom being made?

Any differences between the sentiment on the prior bear flag from today and this last push up from LOD?

EDIT: I chart volume, but it is not really a decision factor in my trading. I just observe when it`s high or low.
 
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