ES Thursday 11-3-11

Hey Bruce, I just hope you are a good sport and keep posting the way you always have!

I know I said that I will not post any more but NickP got me going with he's reverse psychology.

Basically today, I pointed out and trade from the 1237.00 area bc it is 38% Fibonacci retrace from 1283.50 high made on 10/28 at 16:01 and 1208.50 low made 11/01 at 08:52.
1237 area is also a Fibonacci 23.8% and it's acting as resistance. If you look at your intraday charts, you will see that the ES tested that area many times including late this afternoon in the O/N and was not able to find support.

Now ES is moving back down to test the next support area again, at 1214.50. Failure here will target 1204.00 and possibly 1178, same objectives as previously. Stops started above today's high now at B.E. 1236.00. Will see where it takes me.

Below is the same daily chart I had posted for some time now, last time was yesterday at 02:00.


Right now, next hours, next days, next weeks, next months and next years to come, I see for you the same I see for my self: Having the very best of luck, fun, awesome, incredibly profitable trading experience!!

You're right, everything was pointing to the long side.. I weigh the DX a bit more than others right now since Europe is really the market mover.. It wasn't a great probability trade, but I took a shot and took a hit.. it happens.. Everything else signaled that the trades were to the long side, but I didn't like the locations in relationship with the dx location.. Today was a day where I had mixed signals and really both sides were at play as long as you liked the entry location and I didn't...

Another trader told me to go long@44.. but I will have to assume that DX will break support in an uptrend...

but dax closed at 11.30eastern time right?

8:30 in CA.. I used to watch it.. I remember when it told me SP was about to sell off.. That's when it broke to the 1077 area.. DAX never bounced and was hovering near its lows.. SP had a nice bounce at the time.. When SP was coming off, I knew it would take the DAX below its annual lows and the 2 markets will drag each other down, which it did, but then bounced just as fast..... I don't use it now, I think DX is just fine.. I like it better than Euro since its directly US... just another filter, that's all... I'm going to wait till the last hr to see if I can find something...

i am in florida. you are correct.

might see 1259 today?

Originally posted by vasuki

might see 1259 today?

Vasuki, I have 1261.25 as a target

I have 60 and 65 if we go that far...

I think the up move is over, will look for a short again......

Shorted 56 and exited @ 2pts... really need to go see a counselor about this kind of prob....ha if it gives me 56 again, I'll take another shot...

doing battle at that 1262.25 this EARLY a.m. ..