Steve, we put a lower low on the daily ES chart, and could make
a lower high. I am looking for a long position but am concerned
that we could be in a downtrend (wave b down). Do you see a good
entry on the long side? Or slightly exceeding yesterday's low
(1855.75 and then 1851.75 today) is not a big deal?
Needless to say last night's low was a good entry on the
backtest of channel (120 min) after achieving the measured move of
the rising wedge (60 min) which I posted below.
I concede that I did not see that level. I had 1855 and 1844,
and it fell in between. That level was close to 50% retrace of the
move up. I will use your intraday updates for an entry.
Roy I was watching that pullback last night, I took a shot and
was stopped out, honestly I should have just set a much wider stop
because if you listened to the newsletter I discussed my thought we
would form a higher low many times, so that's why I bought some ES.
I did manage to pick up some this morning on a pullback
though
Matt, if you see another entry, please post. Because we took the
entire candle from Friday, I was not going to risk much. I bailed
out at 1864.25 when I could see that it would not stand.
We should have some kind of a retest of that overnight low. If
we don't, I am not interested in the long side.
ES 60 and 15 Minute Updated Views (Added 120 Minute)
Posted by steve on 26th of Jan 2016 at 07:59 am
ES 60 Minute - Rising Wedge Achieved Target Overnight (Bulls Hope RS of IHS Forming) There is also a stealth HS top hidden on a failed bounce.
ES 15 Minute - The HS Pattern played out
ES 120 Channel Backtest Overnight
After trading below 1852 last night, ES managed to rally nearly 30 points back up to it's primary pivot where the rally has stalled for now.
Steve, we put a lower
Posted by junkie on 26th of Jan 2016 at 08:53 am
Steve, we put a lower low on the daily ES chart, and could make a lower high. I am looking for a long position but am concerned that we could be in a downtrend (wave b down). Do you see a good entry on the long side? Or slightly exceeding yesterday's low (1855.75 and then 1851.75 today) is not a big deal?
I do not have a plan yet to trade.
Needless to say last night's
Posted by steve on 26th of Jan 2016 at 08:59 am
Needless to say last night's low was a good entry on the backtest of channel (120 min) after achieving the measured move of the rising wedge (60 min) which I posted below.
I concede that I did
Posted by junkie on 26th of Jan 2016 at 09:04 am
I concede that I did not see that level. I had 1855 and 1844, and it fell in between. That level was close to 50% retrace of the move up. I will use your intraday updates for an entry.
Roy I was watching that
Posted by matt on 26th of Jan 2016 at 09:25 am
Roy I was watching that pullback last night, I took a shot and was stopped out, honestly I should have just set a much wider stop because if you listened to the newsletter I discussed my thought we would form a higher low many times, so that's why I bought some ES. I did manage to pick up some this morning on a pullback though
Matt, if you see another
Posted by junkie on 26th of Jan 2016 at 09:47 am
Matt, if you see another entry, please post. Because we took the entire candle from Friday, I was not going to risk much. I bailed out at 1864.25 when I could see that it would not stand.
We should have some kind of a retest of that overnight low. If we don't, I am not interested in the long side.
80 ticks up; 80 ticks
Posted by a_l_ on 26th of Jan 2016 at 09:44 am
80 ticks up; 80 ticks down; 13 minutes of clock-cleaning in the Russell.
Edit: is there a similar
Posted by junkie on 26th of Jan 2016 at 09:15 am
Edit: is there a similar wedge setup on the daily chart of SPX?
Answer: NO