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FWIW, the ES was in a hinge until 20m ago, at which point it fell out of it. Looks to be testing the bottom of it at 12.5

 

Db

 

Edit: This is also the midpoint of that range that began forming last nite.

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long 1413.75 stop 1411.75 Target 1419.75 (high of the year :))

 

if the overhead trendline doesn't hold (and the demand line), I will manually exit the trade.

 

stopped out at 1412.25. Last night trendline did not hold.

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march 27 2012 as the yearly high

 

Enter the world of confusion as you learn that there are more than a couple of ways to splice a futures contract. My back-adjusted contract shows a high of 1413 on that date. Better to look at the cash index for the "real" high anyway (attached).

cash.png.9344fdfb3ece385ec066ef8e25d8b163.png

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Enter the world of confusion as you learn that there are more than a couple of ways to splice a futures contract. My back-adjusted contract shows a high of 1413 on that date. Better to look at the cash index for the "real" high anyway (attached).

 

Thanks Josh, yes confusing. Better look at SPX

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Difficult day today for trading the ES. I did manage to hit my profit target but it was stop-and-go. Mostly professionals trading only. AAPL appears to be masking some overall weakness in market.

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Hi here,

 

I still have a short trade from yesterday 141100 .My profit goal is 140350 with a stop at 141850.

 

The basic strategy is taking tradesc from daily Fib 1.618 . Only get about 7 signals a month but has been very profitable....this may jinx it:helloooo:

 

Manihi

 

Good it has been profitable for you. If it is working for you so far, keep it rolling.

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Difficult day today for trading the ES. I did manage to hit my profit target but it was stop-and-go. Mostly professionals trading only. AAPL appears to be masking some overall weakness in market.

 

good day for updating the journal and writing plan. This ES is not even moving.

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In general, I advise watching the market when it is open and working on that stuff after market hours. I also advise to watch the market when not in a trade... after taking a loss or a profit. The best times to pay attention to are near the open and some people find it useful to watch near the close. I find the pre-market and open to be of more use, personally. Of course, taking a break at times is worthwhile. But, you are correct, the low volatility makes for limited opportunity.

 

good day for updating the journal and writing plan. This ES is not even moving.

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long 1413.75 stop 1411.75 Target 1419.75 (high of the year :))

 

if the overhead trendline doesn't hold (and the demand line), I will manually exit the trade.

 

I forgot to post chart i was looking at when i posted this trade.

5aa7112dc688c_example1.thumb.png.cee14a9f420e58bd1b7374d3d2512685.png

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Closed my position 141525. Loss 425.

 

I don't carry over the weekend exposures. Rule off and start afresh on Monday.

 

Manihi

 

This week was a good week, although my trades did not work out well, but I learned from them and believe next week will be better as I start trading on a well written plan. have a good weekend everyone.

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Looking at 11 for S in the ES and 75 in the NQ. I wouldn't bet on their holding.

 

Db

 

Morning,

 

Its looking like 1413.25 is showing good support as well, but this could just be the middle of the range since Friday high.

 

Why wouldn't you bet on ES holding 11.

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Because they're both so overbought re the trend channels. And it's time to revisit the bottoms of those channels. Doesn't mean it has to happen today. But the easier and faster profits are being found in the NQ.

 

Db

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Unfilled gap at 2763.50 in NQ logical target. Of course - there are lower ones too.

 

Good call dB... Managed to get short at 2776.75 and again at 2776.25,

 

 

There is a 161.8% fib extension at the unfilled gap too.

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Because they're both so overbought re the trend channels.

 

Db

 

How do you determine overbought? The only way I know overbought is those indicators. And I know you are not using indicators. hhahaah:cool:

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How do you determine overbought? The only way I know overbought is those indicators. And I know you are not using indicators. hhahaah:cool:

 

You could use statistics to determine mean reversion probabilities.

 

 

Friday's LOW is finding buyers in NQ.

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How do you determine overbought? The only way I know overbought is those indicators. And I know you are not using indicators. hhahaah:cool:

 

Read the section on trend in the course. Overbought and oversold are determined by the trend channel.

 

Db

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