ES Journal - 2013

ES had a channel breakout to the downside. It went back up to a resistance level, so had order to short if it came back down which it did. Trade went my way right away so I moved my stop down. I then moved target up as ES came to minor support level and I was able to hit my target for a small scalping profit.

Thoughts, if the president does not make a deal with the speaker tonight, I expect over night and/or the next day the ES to fall around 10 points. If a deal is reached, I expect some upside.

The only reason the market is up, is because of news that they are going to talk.

I wished I shorted last night since I could not understand why the market was up yesterday.

At this point, if I hear of no deal being reached and I can short at a reasonable price I plan to short again for a bigger target.
 
If the NQ closes near the high it will be the fourth day in a row with essentially the same RTH structure. Open with inventory grab below followed by algo accumulation by Europe followed by algo distribution by US, followed by paint the tape.

The only difference so far is we have not touched the VWAP with the distribution algo but I am holding one more small piece of NQ for that at NQ 37 or ES 81, whatever comes first.
 
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