ES Journal - 2014

tradingjournals · Apr 14, 2014

Minus SPY @ 183.27

tradingjournals · Apr 14, 2014

tradingjournals said:
Minus SPY @ 183.27

SPY @ 183.05. An add.

tradingjournals · Apr 14, 2014

SPy@ 183. 2nd add.

tradingjournals · Apr 14, 2014

tradingjournals said:
SPy@ 183. 2nd add.

SPy @ 182.65. +3.5 ESpoints.

tradingjournals · Apr 14, 2014

tradingjournals said:
SPY @ 183.05. An add.

SPY@ 182.55. +5 ESpoints.

tradingjournals · Apr 14, 2014

tradingjournals said:
Minus SPY @ 183.27

SPY@ 182.27. +10ESpoints.

failed_trad3r · Apr 14, 2014

What Is up with this rally

We drop 10 points then up 10 points in an hour :mad:

tradingjournals · Apr 14, 2014

failed_trad3r said:
What Is up with this rally We drop 10 points then up 10 points in an hour

An analysis: the guys who were long had to get out after their stops got hit when low of day was taken (~ 181.25). Then, when it fell to 181.50(SPY), the guys who were short at the bottom last friday had to get out as their prayers to break even were about to get answered. Then the chase in a vacuum-like space. Trading is assumed to be a zero to negative sum activity.

Spectre2007 · Apr 14, 2014

volente_00 said:
Can you post one for spy when you get a chance ?

Thanks

looks diff than futures

bigsnack · Apr 14, 2014

failed_trad3r said:
What Is up with this rally We drop 10 points then up 10 points in an hour

I find that on "inside" days, the previous day high will serve as resistance and the previous day low will serve as support. Today was very successful example of that, although of course very often it's not nearly as clean as today was.