ES Journal - 2017/2018

[Buy1Sell2]

Certainly not a double top on daily weekly or monthly. The best case for double top could be made on the 4 hr chart yesterday, but I don't see a great argument for it.

 

[Pekelo]

Let's say 15 mins. Yesterday's 2852 (SPX) was the first and this morning's open at 2848 was the second (weak). Mind you the early morning futures were higher making it a decent double top (at 2854 ES) as seen here, on the hourly chart:

https://finviz.com/futures_charts.ashx?t=ES&p=h1

 

[Buy1Sell2]

Let's say 15 mins. Yesterday's 2852 (SPX) was the first and this morning's open at 2848 was the second (weak). Mind you the early morning futures were higher making it a decent double top (at 2854 ES) as seen here, on the hourly chart:

https://finviz.com/futures_charts.ashx?t=ES&p=h1

Ok. Double bottom now on 15

 

[Pekelo]

Ok. Double bottom now on 15

That was around 3 pm then it went 2 points lower and now we are up 10 pts from there...

Now comes the obligatory overnight updrift...

 

[Buy1Sell2]

That was around 3 pm then it went 2 points lower and now we are up 10 pts from there...

Now comes the obligatory overnight updrift...

Yes. The difference with this double bottom is that both RSI and MACD agree in my view. Something is about to happen. Please look at the tightening Bollinger Bands on the 4 hr. Just looking at the 4 hr by itself one would think the next move is down. I though would err on the long side. Any sell off on the 4 hr should be bought. Am I wrong? ---Probably.

 

[Buy1Sell2]

The floor in this market is @ 2550. For now I am buying all dips above that level.

 

[Buy1Sell2]

Short term reaction point in this market is now 2840

 

[Buy1Sell2]

Wahooooooo!

 

[Buy1Sell2]

Looking for buying to step in between 2847 and 2859 (where we are now). I'll be buying this dip.

 

[Buy1Sell2]

Looking for buying to step in between 2847 and 2859 (where we are now). I'll be buying this dip.

We ended the day in the 2853 area. Everything going according to plan .