S/R Emini Journal

[romik]

another possible range bar brewing

 

[JimmyJam]

Quote from JimmyJam:

SHORT ES @ 1283.00

SHORT NQ @ 1515.00

best o luck to ya pikers!

Both trades in profit (how often does that happen? ) Still holding short on 2nd set .. I'm just gonna chill to mz. market says different.

 

[romik]

Quote from JimmyJam:

Both trades in profit (how often does that happen? ) Still holding short on 2nd set .. I'm just gonna chill to mz. market says different.

if this 15 bar closes positive, there is a good chance of market reversal, yet another one.

 

[JimmyJam]

Quote from romik:

can you explain a bit more, i didn't get it?

The market has been bouncing around in the 1278 - 1288 range for the past 10 days, venturing out of the range to the downside, then trading back in it, then venturing out of the range to the upside, then coming back in it.

Eventually it's going to break.

edit: I had no idea Kingdom of Heaven was so talky and boring ... and they just finished their "sex scene", yep, talky and boring

 

[romik]

Quote from romik:

another possible range bar brewing

didn't finish quite right, staying put

 

[romik]

Quote from JimmyJam:

The market has been bouncing around in the 1278 - 1288 range for the past 10 days, venturing out of the range to the downside, then trading back in it, then venturing out of the range to the upside, then coming back in it.

Eventually it's going to break.

edit: I had no idea Kingdom of Heaven was so talky and boring ... and they just finished their "sex scene", yep, talky and boring

OK, understood, thanx

 

[ksonsinc]

that is bad if this thing brake,s 1278 we are going way lower
IT was nice it was trading 1278 to 1288
now if it brake we have to worka hard and look at the resistance and break even point

 

[JimmyJam]

Quote from romik:

if this 15 bar closes positive, there is a good chance of market reversal, yet another one.

Your time-frame is too short, homie.

You have to keep an eye on the 1 hour and check the S/R lines, support ain't gonna be com'in in for a minute, yet.

 

[romik]

Quote from JimmyJam:

Your time-frame is too short, homie.

You have to keep an eye on the 1 hour and check the S/R lines, support ain't gonna be com'in in for a minute, yet.

I do, but I want to book points and have an idea where I would be exiting, do you have a PT in mind at the mo JJ?

 

[JimmyJam]

Quote from romik:

I do, but I want to book points and have an idea where I would be exiting, do you have a PT in mind at the mo JJ?

Good question.

After getting my butt roundly kicked by the market I like to keep it real simple.

a) I like to look at the higher time frames (because it tells me what the bigger money is dong). When I violate that rule, I lose.

b) I like to take 2 pts and move my stop to breakeven. When I violate that rule, I get greedy and get in trouble, and lose.

c) I like to look at S/R and Pivots to determine possible exit points, and use something like a 20 SMA crossover to exit the trade. When I violate this rule, I lose.

Lotta clowns runn'in around here talk'in about how traders can't make money, when we do'in it every week (not everyday, but everyweek).

If it doesn't hold here, next support is at 1275 based on the chart.

I gotta start getting ready for work (gonna have a little party) .

Later,

JJ