Longer term position player looking to post here some shorter term ES trades to begin to get a feel for the intraday movements etc. Some positions will be held overnight and I will use this as a training ground to get stops put in at correct levels etc. It may take me a while to get good. I am used to holding positions for weeks and months.
ES Journal - 2016
- Thread starter Buy1Sell2
- Start date
This sounds real good. I hope to stay up to date on this.
I am interested in a few words on your decision making tree. are you fundamental or if TA then a little on that so I can frame my mind into this. I admit I am strickly TA. My brain is not smart enough for fundamentals. although I read them all the time. and a little trickles into my moth holed brain cells at times.
I am interested in a few words on your decision making tree. are you fundamental or if TA then a little on that so I can frame my mind into this. I admit I am strickly TA. My brain is not smart enough for fundamentals. although I read them all the time. and a little trickles into my moth holed brain cells at times.
outlook in terms of support/resistance/trendlines
Awesome chart. Beautiful. Very good choice of lines. I love it. the quality of these lines tells me that you are a very good trader. I need to learn to draw lines like this. Keep up the good work.
Price seems caught between the down red trendline and the up red trendline as the 2 come together in the near future. I always wondered about this type of 2 lines confining price. Is there any kind of hints on how it might resolve. such as counting the hits along both lines. or the slope of the 2 lines or anything.
Of course I always want to see the stock market keep going up and hold the economy together. But deep inside I am nervous that we might be coming to the end of this bull market.
Price seems caught between the down red trendline and the up red trendline as the 2 come together in the near future. I always wondered about this type of 2 lines confining price. Is there any kind of hints on how it might resolve. such as counting the hits along both lines. or the slope of the 2 lines or anything.
Of course I always want to see the stock market keep going up and hold the economy together. But deep inside I am nervous that we might be coming to the end of this bull market.
ES is one of the most liquid markets around, the amount of intelligence among all the participants is staggering. The infrastructure devoted to seeking out the 'edge' in ES is probably of a higher order also. So when you bring in artificial intelligence/algo's and human participants you get a price pattern over time that conforms to certain behavioral characteristics. Each market has its own pattern of behavior. The 'edge' is figuring out which setups work in ES. So the price pattern during non human intervention days is mostly computer driven whether its in relation to secondary market driving it or it being the primary market driving other markets.
You have to look at all the macro markets or markets where most of the money is traded and correlate it to positive feedback loop or negative feedback loop. Most macro traders do this already but artificial intelligence is at the forefront now. A human participant needs to figure out what the algo's are doing or reacting to. The price pattern in ES is very 'technical', and its a amalgamation or evolution of this market to what it is now. The currency markets in contrast don't really trade in technical pattern most days. Since order flow is dependent on interbank transfers based on government or corporate needs. So in currency markets intraday you will see random spikes up or down.
Support/resistance/trendlines have been one of the mainstays in ES because the algo's have learned to respect them, in order to extract an 'edge' in this derivative.
Oil
ES
2036 is first pivot than 2010. Retail sales has come in strong .. implies further tightening by the FED, with dollar rallying. Oil is under global pressures.
long CL 36.75 SL 36.65
I'm looking for a test of that 2010-15 level, FED/bank proxies might defend the 2060 level for the close of this year, end of trading Thursday is the deadline to finish the swing test of the low and jack back up to 2060.