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Wednesday, July 7, 2010

Wednesday 7/7/10 wrap up

Looks like the original ES count from yesterday was correct, W5 bottom @ ES 1002.75 Monday evening.  We've blown through the .382 retracement level of the preceding sell off with no signs of let up, next level is the 50% retrace around ES 1066.



Still long ES from 1032.00 yesterday per the trendline oscillator system.  As long as prices stay above the up trend line drawn on the chart and the oscillator holds above 80 the position will be maintained unless stopped out.  Changed the stop to a trailing stop of -25.50 ( 1 ATR) today mainly because will be traveling tomorrow, normally would run a stop a tick or two below the up trend line.

2 comments:

  1. Hi Al,

    You are one of the few excellent traders in the blogworld. Your win loss ratio seems very high and you did it all with grace. You made it sound like a walk in the park. lol

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  2. I have to say your comments are greatly appreciated. Actually didn't know anyone was following my performance. As far as it being a walk in the park, please realize countless hours go into studying and monitoring what's happening, not to mention the effort at keeping emotions under control. Anything but a walk in the park.

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