Not sure how people are bearish with this price action, certainly not daytrading
ES Journal - 2016
- Thread starter Buy1Sell2
- Start date
I read about this famous technician called Joe Granville. He was so good, at one point, his pronouncements moved the entire market! Then it all went wrong. The market went into a crazy bull market and Joe, every time the market made a new high, said it was going to crash. Of course it did not and Joe and his followers were wiped out. And Joe was supposed to be a technician!
ahem...
I still marvel at the fact that each OpEx (the major one, not the every week one), just repeats the cycle month after month...Just as an example this week's 2085c traded as low as .35 yesterday am, hit $3.50 today...And that isn't that uncommon since just about every OpEx nowadays goes vertical higher.
I think price action should be used to follow and react or alert when to stay out but never to predict tops and bottoms against trends.
does this price action look familiar? because this is the chart of 2007
it's the stairs up and the elevator down, same old story
Last edited:
does this price action look familiar? because this is the chart of 2007
I can short when its bearish on pops, no reason to miss longs and take unnecessary heat, but that is just me.
Don't know if this week or not but very soon. Of course the 4 hr turned upward and put a delay on the impending selloff.
It's important to note that I have not posted any trades from the short side yet. But yes---I am still bearish from a longer perspective than daytrading.