[TheNegotiator]

Okay, so much like the "Reading Charts in Real Time" thread, this thread will be for sharing ideas about future price moves of all the e-mini index futures.

Any styles or strategies are welcome, but please do your best to share the thinking behind them!

So to get us rolling, I have an idea to put to you. Below is a chart of the ES. Take a look before reading on. My idea is a sell on a failure to hold 1320. Volatility has increased over the past few days and frequently this is seen at extremes of markets. It is also in a triangle formation with lower highs and higher lows. So far it has resisted attempts to close in the minor 3 day balance highlighted. A close in or below this balance could see at the very least, a liquidating selloff. My entry idea would be either to sell a retest of the minor balance high around 1334 if we test and fail to break the prior balance high(red line) at 1320. Or if we fail at the balance high at 1320, fade any move back towards it.

Any thoughts?

[emg]

Originally Posted by TheNegotiator »

Okay, so much like the "Reading Charts in Real Time" thread, this thread will be for sharing ideas about future price moves of all the e-mini index futures.

Any styles or strategies are welcome, but please do your best to share the thinking behind them!

So to get us rolling, I have an idea to put to you. Below is a chart of the ES. Take a look before reading on. My idea is a sell on a failure to hold 1320. Volatility has increased over the past few days and frequently this is seen at extremes of markets. It is also in a triangle formation with lower highs and higher lows. So far it has resisted attempts to close in the minor 3 day balance highlighted. A close in or below this balance could see at the very least, a liquidating selloff. My entry idea would be either to sell a retest of the minor balance high around 1334 if we test and fail to break the prior balance high(red line) at 1320. Or if we fail at the balance high at 1320, fade any move back towards it.

Any thoughts?

will not work. don't know how to explain it.

[TheNegotiator]

Emg, if you want to post in this thread you'll have to at least attempt to explain your thinking more than you do in your thread "Emini S&P 500 Day Trading Journal".

[TheNegotiator]

This chart was some more structure backing up the idea of a minimum of a short term correction down. I remain open to ideas though and I'm trying to not talk myself into the trade! Any charts you can post to identify a more bullish skew on the ES would be welcome!

[emg]

Originally Posted by TheNegotiator »

This chart was some more structure backing up the idea of a minimum of a short term correction down. I remain open to ideas though and I'm trying to not talk myself into the trade! Any charts you can post to identify a more bullish skew on the ES would be welcome!

channel trading will not work. need to create your own indicator where as nobody use and never heard or seen of

[TheNegotiator]

Originally Posted by emg »

channel trading will not work. need to create your own indicator where as nobody use and never heard or seen of

If you have no way of backing yourself up and nothing to add, you will be prevented from posting here. By all means disagree and back yourself up. However, this is a forum for ideas.

I suggest to anyone who is interested, take a look at emg's thread

http://www.traderslaboratory.com/for...g-7705-86.html

[TheNegotiator]

The IB low/38.2% session retracement look to have held for now so I'm shorting 1319.75 but will monitor closely for signs of strength. Needs to push on fairly quickly though.

[TheNegotiator]

I got stopped out for a loss at 1321.00. I had hoped to ride it if there was some momentum but I guess not. We'll see what happens if we get a daily close below the 1319.25.