ES Journal Archive (2011)

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Quote from Lawrence Chan:

Since your primary tool is profile, it is difficult to apply on a day like this.
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I didn't really use the profile that much today Lawrence .. I just had poorly placed stops. Particularly this last one really drives me nuts... why not leave the damn thing at 82 where it was when I put on the trade? My target was 93 but certainly would be willing to cover at 92 where it just hit, would have been a nice +7 to make the day a winner. What frustrates me is that when it pushes to 83 like it did, it's just complete BS, to test and shake out. I hate to play the BS card and know I should take responsibility more here, but I'd rather bitch about it for a little bit, then I'll get back to maturity later. :eek:
 
Quote from noone3:

long 85, looking for a rally towards the end. otherwise new lows will be the stop
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nice old-school close for the equities :)
offering this 85 long at 91.5
 
Quote from tortoise:

sorry...i'm being dense...you mean the close of the 22nd?
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Yeap.

When gap is gapped thru in ES, the price to close the gap will still be tested one way or the other with very high prob.

So 85-86 has been in the card ever since open.
 
Any take for tomorrow?
I was thinking of holding an overnight, but i think that this was quite a pullback so i am uncertain of whats coming this week
 
Quote from JoshDance:

This is the rally I was looking for and shaken out of. That's 3 times today I was stopped out 1-2 ticks before a substantial move in my direction. This is a game of precision and I blew it big time today trying to be too creative.
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http://www.youtube.com/watch?v=oTvCEDPeSfk&feature=related
 
Quote from kinggyppo:

that's a pretty good analysis, especially about the second gap. I was trying to get you to see the inverse head and shoulders Mr Chan or should I say Dr Chan was talking about. The reason I mention this is that I see them all over the place especially on the idexes. They are widely pointed out by some folks who have been here for a while like Volente. Anyway, I should add that these patterns are not perfect, you are not going to get a double bottom to the tick but you should watch them as other players ARE looking at them, good trading.


pekelo's second gap rule

http://www.elitetrader.com/vb/printthread.php?threadid=75045
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Thanks for the link on 2nd gap rule...very interesting actually.

Yes I see that IHS on the chart. Thanks for that as well. In future I will be on lookout for such patterns. However, unless I test these pattern's effectiveness, I find it hard to take a trade on it. But yes I agree with the concept that many traders are probably looking at it and it might become self fulfilling prophecy.
 
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