firewalker

Well ehm... don't mean to say "I told you so"... fwiw, I think 190 is next before we see anything of a bounce that's worth buying.

I wouldn't actually call that much of a bounce... If I were a buyer around those levels, I'd get out by the first sign of trouble!

I can totally relate to what you're saying brownsfan... I remember betting very high preflop (hand = AK), raising on each turn (especially when an A dropped), only to lose to some donkey who catches a '2' on the river and gets trips!! :crap: :doh:

well sure looks like I didn't miss much today!

Here's my view... looks like a head & shoulders, but basically we've been going nowhere for the last two months.

Thanks, I had hoped for a bit more selling since the biggest point shift happened in just 10 minutes, but after that we saw 4 hours of zig-zag nowhere. Still the summerdays I guess ...

and I got stopped out while eating dinner... but at least it was worth +12.50 ES points

I thought you knew, I trade all e-minis... I prefer to take setups on the instrument that provides the best setup. Sometimes divergences between two markets can provide an extra factor for high probability setups. anyhow, still holding that short... profits locked in

still trailing price moved stop closer to 1271...

half out at 1276 for +7.50

stop breakeven

short ES 1283.50 stop 85

no... it looks like I was a day early anyway, I closed it at a loss of 2 points, but forgot to post sorry!

now that we are back into yesterday's range... NQ long 1906

out -1 yet again we had +5

NQ short 1904

Have you looked at other pairs? I'm no FX trader, but occasionally I take a look at one of the pairs and notice a decent setup...

Looks like oil is finding some support, and exactly at the expected level too... if only my e-minis would work this nice :doh:

Hi fellow chatters... a lot of people felt that the market behaviour is somewhat different than at other times over the course of the past year, and several people mentioned having problems with S/R lately (see also wasp's thread about The Art of Support and Resistance), perhaps this is due to the fact that price, after breaking out of a R level, fails to hold above it but falls back immediately. I think most of us would expect price to make a pullback and continue it's direction. This is how I see it on the ES. Feel free to correct or comment in any way. The light blue dots indicate breakouts above R, the purple dots is where price falls back below it... perhaps this is where some parts of the problem lie...

Classic rules yes, but I don't necessarily agree with all of them... For instance: "Continually set higher trading goals." :\ Otherwise, good link!

Hmm... well 20 is ok if you can nail the entry which hasn't really been working lately :\ I would seriously start to sweat if I let price go against me for 50 points or more! But anyway, we all have our own style, whatever makes you money

A whole of trades and a whole lot of risk going against the flow if you ask me... why not - assuming you are short - stay in until the trend is over?

Sounds a whole lot like things I did in the past :crap: Problem is I still show tendencies like that after a couple of losing trades. :helloooo:

you were still in? you let price go against you 60 points?

price finding support at levels where we didn't think it would I'm just copying wasp... wrong S/R levels... :crap: