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Just posted on ES Journal, looks like too strong of a technical reversal signal* to defend here even though it's near the 20-day EMA. The stronger defense levels are the 50-day EMA and the lower trend line (there's been a very steady channel in progress for quite a while now). * on the ES a...

That's not a very pretty daily bar here. 'Twoud be a brave buncha bulls to defend at this level even though it is near the 20-day EMA. There's a 50-day EMA around 1710 and a LTL around 1670. Those should be good defense levels.

LMAO! My thoughts exactly. Privatize the profits, socialize ("welfarize") the losses. The reasons given after the fact for market moves seem so contrived to me. "The market plunged today as investors blah, blah, blah..." Investors? You mean HFT robots? :D

I suggest running your own study of 1-min pullbacks in a strong trending move. There are many ways to do it and I shake it up a little if the R:R for my core entry method isn't acceptable, or if the trend is so strong price is hardly pulling back (little inside bars or triangle after a strong...

+++ :cool:

"Isn’t that why you want to save the world in the first place? So that you can be happy? Well, skip the middleman, and be happy from here! You’re it. - Byron Katie, A Thousand Names For Joy :cool:

This price action environment reminds me of spring 2010, but I can't imagine the same result because this is the Santa Claus rally time of year :eek:

My understanding is that a stop order becomes a market order as soon as it's triggered, so the only thing that should affect the fill price is the liquidity available to fill your market order and where you are in line when it's triggered.

Technically speaking, if it closes hereabouts or lower, it will be a "failed final flag" reversal signal on the daily. Da Bulls need to get to work!

The first long was solid because the 5-min 20EMA which was previously resistance should now hold as support on a long trade taken at 8:03, therefore a stop loss below that EMA, even a tick below the previous congestion low, wasn't too wide. The second long was more problematic. The 8:16 bar...

Yes, but can she twerk?

I studied swing highs and swing lows and looked back on both the 5-min and 1-min chart to see if I could find reasons why one side would overwhelm the other at those levels. I found several reasons for such defense, including trend lines and parallel channel lines (when applicable), previous...

And...

One candlestick is not a signal for me in isolation. The behavior of the current bar-in-progress against the backdrop of previous price action may signal a trade. I look at the story leading into the hard right edge and I make note of levels that will be next in line to be defended if price...

They aren't a trade signal for me in isolation.

There's plenty of money for all us small traders, especially when we're riding along with the big traders. IMHO, the only suckers are those who trade without following an advance plan. :cool:

In that wide time window, I see two bottoms, two tops and currently a run in progress that hasn't yet showed any signs of being a "top".

I've asked a few times before if anyone could provide some examples of price action concepts changing over time and have yet to see an example of this.

I haven't studied trend vs range strategies in swing trading over multiple days/weeks, but I studied in GREAT detail how to avoid getting chopped when price ranges intraday. Everything I need to profitably day trade liquid instruments without getting chopped was found by tedious study of price...

Yes, Bighog's trading strategies worked when I met him in 2008 and have been working ever since. It's classic technical analysis of price action and has been the subject matter of trading books going back decades. I switched to futures because I had difficulty focusing on too many things at...