S/R Emini Journal

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I won't play it at this time, but to me it looks like we're about to test the 10.50 again. If so, let's see if that holds.

Alex
 
Quote from yvberj:

I won't play it at this time, but to me it looks like we're about to test the 10.50 again. If so, let's see if that holds.

Alex
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I think this market is done for the week.

Side Note: Are there any patterns or anything that someone has questions/problems with. This weekend I'll be around and we can discuss anything you have on your mind. A 3 day weekend provides a great opportunity to look and learn. So it will be an open forum for the weekend.

Gary
 
Quote from 4re:

I think this market is done for the week.

Side Note: Are there any patterns or anything that someone has questions/problems with. This weekend I'll be around and we can discuss anything you have on your mind. A 3 day weekend provides a great opportunity to look and learn. So it will be an open forum for the weekend.

Gary
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Yeah, its not moving anywhere.
Gary, pennant between the 2 gray lines?
 
Watching this is like watching a Turtle cross the road.

By the way, don't try catching a Turtle underwater. That's where they can move.

Have a good weekend everyone. I'll see if I can catch you on the weekend.

Alex
 
Quote from belavia:

That is, except I was looking on the 5.
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Here it is on a 5 minute. I never trade with a 5 minute chart, just too noisy for me. But it is the same pattern.
 

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Quote from 4re:

Here it is on a 5 minute. I never trade with a 5 minute chart, just too noisy for me. But it is the same pattern.
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Would you say that any pennant worth considering is the same on 5 as on 15?
 
Quote from romik:

Would you say that any pennant worth considering is the same on 5 as on 15?
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Yes, they should be the same just the 15 minute chart is easier on the eyes for me.
 
Quote from 4re:

I think this market is done for the week.

Side Note: Are there any patterns or anything that someone has questions/problems with. This weekend I'll be around and we can discuss anything you have on your mind. A 3 day weekend provides a great opportunity to look and learn. So it will be an open forum for the weekend.

Gary
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Thank you Gary! I will be around on Monday. Yes, I have something that could use some input from an experienced trader.

I know this might sound strange :), but I like the ES exactly for the "choppy" phases like this week, since I more or less fade highs and lows.

I recognize though that this only makes sense if you do it in the direction of the underlying trend.

So here is my quandary: how do you define that in a simple and clear way, with as little ambiguity as possible?

If you have, or anyone else has, any tips for a "novice daytrader" :) on how to trade on the right side of the intraday trend, I'm all ears. Of course, I read on this topic, and it appears there are many possible ways, but I would like to hear from real traders not some book authors! :)

Who knows, I might give up "fading" altogether, since I really get warmed up with the idea of buying strength and selling weakness. I guess, you just have to do it at the right place, where there is little risk of a breakout/breakdown failure, at least for a small move of two points.

Well, happy holiday to you and everyone from Kiev! :)
 
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