ES Journal - 2017/2018

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humbletrader2016 said:
Short-term trend is clearly confirmed on the downside since yesterday morning. Why do you guys keep fighting against the trend as a pro trader? :rolleyes::banghead::D
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That my friend is the difference between a pro trader and an elite trader! :)

But seriously, if you look at daily/weekly/monthly, the upside trend remains intact.
I don't use those time frames for intraday trading, which is all I do, but some do. To me that's like trading based on a 200 day MA but using a 1 minute chart for same-day entry and exit. Whatever works for 'em!

Trade On!
 
Buy1Sell2 said:
Still looking at this area as a place to consider long.-----not there yet.
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Yesterdays daily close did not show a lot of conviction. Hence the possible? mixed close we get today. We are still above the 61% retrace of 2629, so we are still pointing upward as far as the short term daily view is concerned.

Lots of volatility will cause exaggerated moves even though we run through levels we are still within the tolerances of the pullback.
 
Pekelo said:
I think that has ended and we are in a very wide range sideways consolidation. That might eventually roll over downward or not, but we can forget about new ATHs... NDX has put in a doubletop, until that is breached, the range is on...
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Possibly but I still believe we are in a long term uptrend. Because the market has been in an uptrend for so long, it can take a lot of volatility before any major support areas are challenged. A lot more chart damage would need to occur before I would give up my view of this being uptrend
 
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