ES short term trading 4/16/ 10

Please don't call your self that. Some times it happens to the best of us. Part of learning. Even the best of the best are still learning. At list I'm till the day I kick the bucket.

thx Pal, well i got stopped at 1192.75 loss of 2 handles on 2 es... see the chart above? im long again from 1186.50!!!

We have a horizontal support at 1185.00 From the low of 04/13 and also a support trend line diagonal. It just hit the crossing of the two! If below that. Lower prices for days to come. Will see. I'm on the side right now.

Now remember , i think it was yesterdays postings , i expected 17-25 handles from the 1210.50 Kools tools cycle top? thats what just happened. Imho, they really need to find a base here in order to take it to new highs (1224-1232) late April or by May 10. Otherwise , our long anticipated intermediate term decline will have started! (65-120 handles!)

Originally posted by i1hunter

We have a horizontal support at 1185.00 From the low of 04/13 and also a support trend line diagonal. It just hit the crossing of the two! If below that. Lower prices for days to come. Will see. I'm on the side right now.

That's it? 2 handles? Part of doing business. Good job on capital preservation. After all, capital preservation is rule #1 - a most to survive and be successful in the art of trading.

and it really shouldnt, happen till May. WHY? causethe pattern has been 3 months up , one month down ! last significant low was Feb5th ,so end of April or early May , then down into June! (June swoon!)

Originally posted by i1hunter

Originally posted by i1hunter

We have a horizontal support at 1185.00 From the low of 04/13 and also a support trend line diagonal. It just hit the crossing of the two! If below that. Lower prices for days to come. Will see. I'm on the side right now.

That's it? 2 handles? Part of doing business. Good job on capital preservation. After all, capital preservation is rule #1 - a most to survive and be successful in the art of trading.

..Just 2 handles friend cause i dont try to gain more than 1.5-4 handles usually. Im a very small account, and usually only trade 2 es at a time.

note to friends ...pay special attention to the 11:31 and 11:33 posts!!! Theyre freakin important, imho!!

Originally posted by koolblue

Now remember , i think it was yesterdays postings , i expected 17-25 handles from the 1210.50 Kools tools cycle top? thats what just happened. Imho, they really need to find a base here in order to take it to new highs (1224-1232) late April or by May 10. Otherwise , our long anticipated intermediate term decline will have started! (65-120 handles!)

Yes, I remember your post because, I think it was in the last video. I said that below 1176.00 it will be dangerous because it could move down possibly 10% or more. That we are congruent with. That was one of the reasons why I was thinking about your post.
For me the 1176.00 support has to hold - if it gets there. Or ouch! put options anyone? LOL

Originally posted by koolblue

Now remember , i think it was yesterdays postings , i expected 17-25 handles from the 1210.50 Kools tools cycle top? thats what just happened. Imho, they really need to find a base here in order to take it to new highs (1224-1232) late April or by May 10. Otherwise , our long anticipated intermediate term decline will have started! (65-120 handles!)

Thanks, Kool.