ES Journal - 2014

Good morning all. Inside day again today, so I can only long below the open and only short above. Since we didn't clear above the open yet for a test, any move lower and I'm going to play for a retest of the open print.
 
bigsnack said:
Good morning all. Inside day again today, so I can only long below the open and only short above. Since we didn't clear above the open yet for a test, any move lower and I'm going to play for a retest of the open print.
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Inside day sell-offs after a previous uptrend day can have difficult to read price action because the price shows as demand failure rather than strong selling pressure. Demand failure action, i define, as bullish patterns that continually fail. These are often tougher to predict and trade off of. I haven't trade yet today because of it.

Selling pressure price action, is rather obvious and sellers have complete control.

As of 10:20am est, we see a divergent push up (weak uptrend with little follow through). This often spells out lower lows.

Happy trading all !
 
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