ES Day Trading 5-26-2011

I shorted 1315.50 looking for 1312.00

...ON THE UPSIDE 1328 AND CHANGE IS RESITANCE AND 1332 IS KEY

I have a stop on 1316.50 just in case. 1st target would take half in 1313.00 area

Originally posted by johnpr2010

I shorted 1315.50 looking for 1312.00

Originally posted by johnpr2010

I shorted 1315.50 looking for 1312.00

I'm short with you. I keep coming up with 12 using various techniques. It will be interesting to see the reaction there.

Originally posted by neoikon

Originally posted by johnpr2010

I shorted 1315.50 looking for 1312.00

I'm short with you. I keep coming up with 12 using various techniques. It will be interesting to see the reaction there.

Got close enough for me... flat.

Wouldn't be surprised to see a big pop, but will look for entry later.

The US Dollar is taking the market down.

selling 1317-1317.50

As much as I like the idea of going long, I can't ignore the series of lower highs and lower lows... Nice trend lines...

here we go!...short 1317.25

covered half at 1315.50..holdind the runners for a 1312 retest(expecting 1310.50)

No Problem......
Methodlogies tend to be frameworks and understanding the lack of of tech at the time he probably used his thumb to guesstimate the 10 day moving average......oversimplfying I'm sure.

If you look at the chart.....does it look wrong? Or does it look very very right......it looks like that every day. This morning they were just backing up truck @1312-14 level.

His base method is very accurate....even some decades later....its works on everything I've pointed it at.....

Understanding the cycle is not crtical as each day is new.....but cycle position can increase probability of the event outcome.....if you review this week you'll see a cycle low with a
1. 2.618 long Night +11 then
2. 1.618 long Morn +18 then
3. 1 long then +15
4. tomorrow......we'll see right?....down cycle could begin again....but if you short a stretch failure you'll catch the big drop.