What does this mean? And could you say what first two phases were?
ES Journal - 2015
- Thread starter Buy1Sell2
- Start date
What does this mean? And could you say what first two phases were?
How's everyone been,
Perceptions are long term sideways chop, the FED is keeping a lid on explosive upside with a 'pending' rate hike. The bottom is protected by the banks/FED which need to sustain the wealth/account balances in 'market participants'..
Market participants are mostly retirement accounts/college savings plans, a constant amount gets allocated to the market, so prices have upward bias.
interesting trade is the gold trade, people can't explain why it keeps trending down. So in this type of situation just sell it short. A confounding trade is one of the better trades, since most aren't biased in taking it.
Chris
Perceptions are long term sideways chop, the FED is keeping a lid on explosive upside with a 'pending' rate hike. The bottom is protected by the banks/FED which need to sustain the wealth/account balances in 'market participants'..
Market participants are mostly retirement accounts/college savings plans, a constant amount gets allocated to the market, so prices have upward bias.
interesting trade is the gold trade, people can't explain why it keeps trending down. So in this type of situation just sell it short. A confounding trade is one of the better trades, since most aren't biased in taking it.
Chris
failed to close below channel.
You appear to be taking HS entries but your stops are way out there? would you care to elaborate?
Did you get a fill at 2088.50? I see < 50 contracts traded at that price around 10:30.
Phase 3 of the journal is a Socratic theme. You've asked a great question about stop size. Yes, stop is way too large for a day trade. -As far as H and S, I don't look at patterns like that.