ES Apr 24, 09

We just started a 4 day cycle. They're buying the open at 8:40 and selling the close at 14:40 where they can. I notice seller's satisfaction at a corner to corner at 55 in want to test 36 but 42 should hold.

They're buying the dip.

I have a swing projection to 902 where time and price will square at exactly a throw over next Wed. the 29th at close 14:40.

Let's check it out.

me too

I have a projection to 49, but 54 should hold if it's a bull run. It's a pivot from the first corner to corner seller's satisfaction made before the pullback, that, until this morning, was pretty strong resistance.

I covered 54 for 11 handles.

cool..nice one...my last came off at 56.25. I paired down earlier so was unable to unload any as it dropped......it sucks sometimes not having enough contracts but it could just have easily been a bad trade too...for me I was obviusly whatching the plus 8 - 10...I also had the merged profle line up at 867...will post that later.....for u guys it was something else....always great when our various methods are saying the same thing....hope all have a great weekend......great wheather here....that drop made it worth being inside for....sometimes the suffering pays off

If you were short 65.00 to get 11 ... you held from 1:23pm with a move down to 58.25 (a 6.75 open profit) and back up to 64.50 (just 2 ticks from your entry) to cover at 54.00. Do you use stops? Do trail stops to lock in any profits once you've got some decent open profit (6.75 is a pretty big number for day trading ES)?? Lemme know. btw, glad you got your 11 handles!

I was on sidelines still ... maybe my data's bad. I'm done for the day ... decent weather out ... time to bring in the weekend. Did a tad better than BE on day net, ho hum. Hope all had a decent Friday!!!

I broke for a bite.

A pad, a calculator, knowing where I'm going and a trigger finger over a stop at a point behind entry and a taget fill stop is all I have.

When I swing, I factor ATR, standard deviation, projection angles and index percentage variables, mostly 2% of it. My style is to risk all profits plus a point to reach my target.

I tried messing around with trailing stops but a) it cuts into my profits, and b) bots love eating them.

scratch for me on the ES but made a nice turn on the ZN sell off, snowing here in wyoming, again!
have a good one guys and c u on mon!

quote:

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Originally posted by CharterJoe

I am long ES @ 54, due to a trending $VOLD...

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That $VOLD is magic....Covered 863 +9 on those. Covered the NQ's @ 75 +69points on those. I sold the ES due too chopping $VOLD, and the NQ due to target hit as stated in the RSI thread.....

I think we just saved a crash.

All we know are two things: we're trading on top of bear price satisfaction before they broke to test, and bounced 3 points above it.

I can get pretty creative with my trend lines, and have received some flack here in the past for it, but below are my diamond and by hand Gann Fan.

I think it's more than probable we'll double top and base and turn right around and test 823, for two reasons: We just broke-out of an angle that's going to revert and sellers are satisfied everywhere.

I'm in the camp per longs trading above 67 for options and positions, but it's a fair guess to suggest we'll chop in weekend trading and they'll buy the open.

I don't have a target yet.