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Although I might have been more patient, closed out the short as it seems
to be stalled in meeting even minimal downside target and failed to move
away quickly from the gap retest ... 4 handles per contract wasn't
great but not bad. I'm leery of longs as my breadth models are flashing warnings
of possible short term (week or so) top. If it takes out Friday's high, I
will re-short at next higher resistance area.
Attached daily cash shows today's low as a retest of the old trendline
(gray).
Earl
----- Original Message -----
Sent: Monday, June 20, 2005 9:02 AM
Subject: Re: [RT] Es15 - Island
Reversal?
sorry bout the big pic but dont have time to trim and cut
etc
1212 ESU support, I think it holds here, but 1205 is max downside
if
longer term trend is still UP.
An island reversal? sure.....Friday's action
stranded up there... but they have
attempted to close todays opening gap
few minutes ago, almost closed it, but
still a gap.
Observe NQs were
stronger earlier, now they are weaker, relative to ESU....
after all said
and drawn: looks like a down day, as low as ESU 1205, but most
likely
support at 1212. I am wary of shorting these markets! looking for short
and
day trade longs...
--- EAdamy <eadamy@xxxxxxxxxxxx>
wrote:
> I agree that confirmation is needed. I have a Wolfe Wave
pattern targeting
> 1212 (blue downsloping line) at 9:00 Mountain
(vertical cyan from apex).
> Support zones generally at 1210 and 1200
... we'll have to see how it
> behaves.
>
>
Earl
> ----- Original Message -----
>
From: Ben
> To: realtraders@xxxxxxxxxxxxxxx
> Cc: ntt-list@xxxxxxxxxxxxxxx ;
e-mini_traders_anon@xxxxxxxxxxxxxxx
> Sent: Monday, June
20, 2005 8:21 AM
> Subject: Re: [RT] Es15 - Island
Reversal?
>
>
> hello Earl
>
> until this trend line is broken we are still in up
mode
> Ben
> ----- Original
Message -----
> From: EAdamy
> To: Realtraders
> Sent: Monday, June 20, 2005 10:04
AM
> Subject: [RT] Es15 - Island
Reversal?
>
>
> The second half of
my scale-in short did not get filled on Friday because
> it just missed
hitting my blow-off targets. I was looking for a correction
> more than
a significant top, however the 15 minute Emini chart this morning
>
reveals a possible Island Reversal which would be more bearish.
>
>
Earl
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