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Looking for longs...


In this 1445 area......we have weekly pivot up above.....concern is 9/11 anniversary which may be factored in at these low levels..should at least test 1450 today..and hopefully soon...

Trade with passion!

Bruce
Hello Bruce and all,

I await your reply to my emails and you got my number as well. Wanted to know about wolfe waves you mentioned. Better not to watch markets. Easier that way and then you know you are a real good trader.

I POSTED THIS IS ERROR IN THE 'LOOKING FOR SHORTS' THREAD. SO I PASTED IT HERE.

I went short and long today. I has short at 780.20 overnight. My high range was 780-782.50 and low range was initally 772-768 but as we got to 773 so fast I revised it down to 763-759. I was initally expecting a down day for the whole session, but the way they got to 773 and the lower revisions so fast especially that 759 number I knew we had to go up then or I was wrong.

I got out my short at 760 ( I was going to pull trigger earlier...762..but just waited...not advisable...this time worked). Then I went long at 761 and saw it come back down to 759.10 but this scare move told me we were going up. Also we were at the key level and today Sept 10 was the low area imho.

I took out my long at 777.10..power stopped...

I did not go short as it went down..now long from 769.80. Lkg for 783-786 and gravy number is 793-805..maybe 810 by Friday Sept 14.

ES ( I don't trade, watch it) expect the numbers Bruce stated. Gravy numbers could be 1485-1495-1505...1464-1470 area should be hit.

Sept 13 is contract rollover...don't know how this going to impact.

Thanks also goes to daytrading for all his efforts.

Good trading all.

Boots

1472.50 is my final fill as I type...let the greedy take the rest...I think they're coming back for 68 and I don't want the draw down...
I took of my ER trade at 783. Still see upside tommorrow. Maybe another day like this or range day. But can't see down draft. Sept 13 contract rollover. Keep this in mind.

Only gravy number is left..this is always extra. Wish I was a better daytrader..right now I'm only a trader.....

Boots
Looking for longs at 1550.50..target is up at 1554.75.....keeping a close watch on this and not averaging in..will be surprised if they can't retest 53 and hopefully soon..my concern is that they broke the Monday-Tuesday range to the downside and the weekly pivot hasn't been traded to. It came close in overnight session on Sunday night at 1535 but haven't hit it yet this week
changed plans..I added at 48.50..target is now 51.50..this is not looking good as markets all banging on lows together..
filled at 51.25...chart to follow...
I went short at 834.70 and got out at 828.80..1 lot 2nd at 829.20...knew they would break morn low...but did not know by how much...became apparent that 828.40 was going to hold...and then they took it up.
I expect tomm to be a down day...prob down to 823 area or lower, but come oct 7/8/9 should be in high area...double top or consolidation...don't know which. So look for longs till Oct 7/8/9. Maybe a long will set up tommorrow as we get to low area...

Oct 17/18/19..should be high area...does not mean new highs...after that should be mkt crash.....so fed can drop interest rates to 3.5 or 3 % in next 9-12 months...real economy..is going to get much worse...housing is more important in the real economy than the stock market...and housing is crashing and going to get worse..so the Fed will have to act and the big boys will make sure they act...

Good luck

Here is the chart from yesterday..I was trying to get the triples marked with the horizontal lines on the chart..I couldn't hold on for them..but when the second set of triples formed then I added to my position........I didn't want to be greedy that late in the day

Ok, so the point is really about the reasons for the trade not the actual trade itself.....

currently the overnight is trying to break the set of triples up at the 1554.75 area..no surprise as the triples get taken out so often....1st set of triples at 1552 was taken out in overnight already.

current high is 54.50 ..I went short at 54.50 and will add up at 58 area if needed otherwise my first target is 51.50..where there is a gap in overnight..then 49.50 is an interesting area....

Click image for original size
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Bruce: what is the significance of a blue bar? It looks like yellow bars are when the open and close have the same value. Is that called a doji?
we might need to open a new topic here... "looking for a trading range" .... how many times are we going to run into 1470.50 today ?