ES Journal - 2016

[Zodiac4u]

Have you ever done a study on ES/CL correlation?

I've never used that relationship anyway, but I've spotted them decouple enough times that I don't find any value in it (for me, that is).

its all just temporary anyway, but you just use it when it works. For me it a confidence thing, if an additional item supports your entry, the trade becomes more probable.. as for the resent crude bounce, yes it put some pep in ES's step. The Dow likes expensive oil.

 

[Laissez Faire]

"But you just use it when it works."

And you know when it works?

 

[Zodiac4u]

"But you just use it when it works."

And you know when it works?

Yes!

 

[recession2016]

When you have direction wrong, everything fails.

You first saw megaphone, failing.

Island reversal, failed.

Need to keep an unbiased outlook, because in the end, everything can fail, but noticing that is a big part of the puzzle.

Screenshot attached, the megaphone is doing opposite of what they are "supposed" to do, and that downtrend-line has been tested one too many times, more stop hunts ahead are in order, bears not having a good time.

Good luck.

yeah the bears aren't having a good time, you got that right

 

[recession2016]

still a megaphone topping pattern

 

[Iron.Maiden]

still a megaphone topping pattern

Hope so, it would do wonders to volatility.

 

[Zodiac4u]

Strength in oil pushed ES higher in the early hours. Now that oil gap filled will it lose its footing and resume south?

 

[Buy1Sell2]

Staying short with my longer term swing trade.

Stopped out yesterday for loss of 13.5 pts

 

[Buy1Sell2]

or perhaps we don't clear 2071.50.

And we didn't really

 

[Laissez Faire]

Based on the current what, my expectation for today is a slightly negative day with an Open near the High and a Close near the Low. Roughly so.