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.
Steve, we put a lower
ES 60 and 15 Minute Updated Views (Added 120 Minute)
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