Trading ES (Q1 2004)
- Thread starter china white
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frugi
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Have a top trip China and don't let the Black Caimans get their teeth into you. We were due a sunny sojourn in Grenada until I started daytrading LOL 
1153 on the nose after a lovely ABC retracement. Could u be a little more accurate next time please Finirama/Skim? Wish I'd held that bit longer, but was stopped out by the B pullback. Too cautious!
The B wave was a perfect 61.8% of A and the C very nearly 1:1 height with A as well. Simply glorious. I did notice the H&S on thre hourly but thought it was too ill defined to make a decision upon. But the 30 min clarifies it - thanks Skim. So many things simultaneously to observe!
Gonna post me P&L in my thread now cause I'm an arrogant....no honestly, I'm just pretty chuffed (though not, of course, emotional!) - nine hours sweaty hard work and $275 to the good after a poor day yesterday. Feels truly deserved for once too.
I'm certainly not giving up now...Frugi WILL be a TRADER one day.
Thanks 4 all yr help folks.
PS Skim - the 27cm one or whichever is male please. I was wrong - the one sat on my girlfriend's desk is female, Tiny and 21cm. I will pay for the wool and labour costs! Cheers.
1153 on the nose after a lovely ABC retracement. Could u be a little more accurate next time please Finirama/Skim?
Wish I'd held that bit longer, but was stopped out by the B pullback. Too cautious! The B wave was a perfect 61.8% of A and the C very nearly 1:1 height with A as well. Simply glorious. I did notice the H&S on thre hourly but thought it was too ill defined to make a decision upon. But the 30 min clarifies it - thanks Skim. So many things simultaneously to observe!
Gonna post me P&L in my thread now cause I'm an arrogant....no honestly, I'm just pretty chuffed (though not, of course, emotional!) - nine hours sweaty hard work and $275 to the good after a poor day yesterday. Feels truly deserved for once too.
I'm certainly not giving up now...Frugi WILL be a TRADER one day.
Thanks 4 all yr help folks.
PS Skim - the 27cm one or whichever is male please. I was wrong - the one sat on my girlfriend's desk is female, Tiny and 21cm. I will pay for the wool and labour costs! Cheers.
stoploss please
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China m8
Thank you for the last post. Going to work on this while you are doing your Richard Attenborough impersonation.
Have a great trip geez.
Thank you for the last post. Going to work on this while you are doing your Richard Attenborough impersonation.
Have a great trip geez.
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Have a nice trip Mr White, and don't forget to send us all a postcard. :cheesy:
... and perhaps you could also bring us all back a stick of rock each?
... and perhaps you could also bring us all back a stick of rock each?
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Finirama:
The turn at 1153 is a little too late for a 123 short, although it is still a valid one.
I find that the closer they are together, the better the trade, as long as there is a nice big pullback inbetween.
Let me show you - the following is a 10 min ES chart, and I've shown the IDEAL placing for the 123s. As you know, the top was very choppy, so it was not a clear pattern to follow. That's life - there'll always be another. So although the pattern was there, it was not an easy entry, so therefore the 1153 turn was just too low down.
Although a turn at 1153 is still valid, the timing (at the end of the day) means that you would aim to get a few points out of it, but the big boys can whip the price about a bit at that time, so a tight stop would have been needed.
I've marked where the next one will be IF there is a turn. BUT, we've had a clear 5 waves down, then an abc retracement up, so the theory is that we will now get another 5-waves down, or an abc down which will then indicate the end of the down trend, and we would then have a 5-wave up.
There's no hard and fast rules, you just need to spend time looking out for them, and then when you've seen 20 or 30 of them form, you'll start to know the difference between 'good' ones and ones which need a tight stop.
The turn at 1153 is a little too late for a 123 short, although it is still a valid one.
I find that the closer they are together, the better the trade, as long as there is a nice big pullback inbetween.
Let me show you - the following is a 10 min ES chart, and I've shown the IDEAL placing for the 123s. As you know, the top was very choppy, so it was not a clear pattern to follow. That's life - there'll always be another. So although the pattern was there, it was not an easy entry, so therefore the 1153 turn was just too low down.
Although a turn at 1153 is still valid, the timing (at the end of the day) means that you would aim to get a few points out of it, but the big boys can whip the price about a bit at that time, so a tight stop would have been needed.
I've marked where the next one will be IF there is a turn. BUT, we've had a clear 5 waves down, then an abc retracement up, so the theory is that we will now get another 5-waves down, or an abc down which will then indicate the end of the down trend, and we would then have a 5-wave up.
There's no hard and fast rules, you just need to spend time looking out for them, and then when you've seen 20 or 30 of them form, you'll start to know the difference between 'good' ones and ones which need a tight stop.
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stoploss please
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Cool chart Frugi
stoploss please
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frugi
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5/10min: Is this a wave 4 up of 5 down or have we completed 3 down meaning this is wave 1 of 3 or 5 up? Volume was big at 1143.25 but was it enough to turn the market?
1142.5 is 61.8% on 30 min chart, also a 161.8% projection of yesterday's ABC up. A fall to here would complete 5 waves down.
But we have bounced off that 3rd fan line and fallen 10 pts which points to a pullback.
Decisons decisions...
1142.5 is 61.8% on 30 min chart, also a 161.8% projection of yesterday's ABC up. A fall to here would complete 5 waves down.
But we have bounced off that 3rd fan line and fallen 10 pts which points to a pullback.
Decisons decisions...
stoploss please
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Is this in China's terms a down trend day. Only the banks are showing any sign of strength. The sox looks wankie and the $TRAN and $UTIL although not part of the equation look weak as well.
stoploss please
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Volume declined on the 2nd peak of that small up move.
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