Clowns ES Daytrading Journal

Some longer term analysis here. Just trying to see which side i should be betting on in both my swing trading and day trading accounts to improve my probabilities.

Firstly the daily again - nothing changed, basically side ways trading, need to take out the major zones or test them for me to make a play based on this.

If we break the 1310-1312 region then watch out below for most likely a test of 1250s.

Trend is still down on the daily so for longer term players this must be still considered a Bear market. No intrad-day rallies can shift this longer term view until we break that major 1460 region.
 

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Next is one of my favourite charts the 60min.

Trading in a range from 1400 to 1310, lots of sideways action recently. Again no clear trend present on this chart, the upward trendline was broken but we have yet to break even 1333 which was my first bounce point.

Have some nice selling confluence going on in the 1430s which might merit a nice sell.

Until we get a clear trend i will be trying to play the range in my swing trade account by selling the resistance and buying the support. Simple stratgey with a few price rules and market profile as overall guidance on swing positions.
 

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Now to the 15min chart. Again which is looking rather dull right now, i did miss the swing position on the long from 1333 which i had posted before start of the day.

Basically price will test the same points where buyers and sellers come in many times before. 1333 had been a turning point and touched about 7 times, this helps to identify some strong support regions.

1320 still looks like some strong support. I have 1372 now as strong resistance on the smaller time frame.

Not applying any FIB analysis to this chart just yet as i work more with target projections using FIBs on the 15min chart.

Lets see if we can get a breakout from the bracket identified.

Will be looking to sell a breakdown from 68-71.
 

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Clown - I think I do something very similar to what you are doing here (although with much less success).

Please continue posting... would love to see what I could pick up from you.

Great journal...
 
Quote from kidPWRtrader:

Clown - I think I do something very similar to what you are doing here (although with much less success).

Please continue posting... would love to see what I could pick up from you.

Great journal...
More...

Thanks Kid, i do use similar approach to AHG and have recently learnt a lot from that thread.

However, i do have a few plays which deviate slightly from AHG but principles are similar - looking for some big wins to overcome the small potentially many losses.

I do have counter-trend plays which i think AHG are working on, and some of my trend following entries might be different but we all trying to steer the ship to the same course, which is identifying a wave and trying to ride that wave.

Have been reading a lot of Aneks threads and that guys level of understanding and composure is amazing. Would love to be half the trader that man is.

Good trading to you kid, and please feel to drop some advice in this journal. Everyone is welcome to contribute anything they can.
 
Will try a nice R:R counter-trend here at 69.75. Missed by 2 ticks.

Short now from 65.25. Following the analysis from my charts yesterday.
 
Quote from ESclown:

Now to the 15min chart. Again which is looking rather dull right now, i did miss the swing position on the long from 1333 which i had posted before start of the day.

Basically price will test the same points where buyers and sellers come in many times before. 1333 had been a turning point and touched about 7 times, this helps to identify some strong support regions.

1320 still looks like some strong support. I have 1372 now as strong resistance on the smaller time frame.

Not applying any FIB analysis to this chart just yet as i work more with target projections using FIBs on the 15min chart.

Lets see if we can get a breakout from the bracket identified.

Will be looking to sell a breakdown from 68-71.
More...

I think these types of patterns offer great R:R, everything seems to set-up perfectly with news announcements on the charts.

You could play that pattern with 1.5 stop and have reward of 10 points.
 

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