ES Journal - 2017/2018

Status
Not open for further replies.
Laissez Faire said:
Target?

Might see a green close, but I wouldn't expect anything beyond that. Personally, I'd rather bet on new lows from here, but even still I bailed on my short with 1 tick profit as I lack conviction.

By the way - is this your journal? Do you mind others participating? I've been wondering if I should rather make my own journal as people might not have any interest in my postings. I find myself bored lately and like to post some comments during the day as I don't have any contact with other traders whatsoever.
More...
Journal open to all.---excepting of course the aforementioned trolls.
 
Double top on daily with a cash gap down at 2719. I am still short core position from 2657.5 but have been managing by selling weekly puts which has helped avg my cost up. Still believe we will head down into end of May. Hit the BID!!!!!!!!!!!
 
Laissez Faire said:
Not a bottom yet, I think. Still room for more range expansion.

Would normally look for 2725 or 20, but in this sleepy environment it might be a stretch.
More...

And that happened, but I was too risk averse and bailed on a retrace. Hate when that happens.

As for long-term/medium-term, I have no idea what's next and don't care either, but this market tends to like filling gaps below before going higher, so I'm thinking that a move down to the 2710 area should be expected regardless of further movement.
 
Kind of late mentioning, but nice doubletop at 2741 on the daily, with RSI divergence. I think we go below 2700.

Edit: We have just closed the "no trade war" gap at 2711 and looking at a possible island reversal. (that would be bearish)
 
Last edited:
By the way these last 2 days the longs got it as a present from Trump. 6 days ago we pulled back to the SMA line (2700) from where we bounced up to 2730 and that would have been the end of it if not for the "no trade war" news. It took only 2 days for that good news to wear off and now down we go.
 
Status
Not open for further replies.
Back
Top