ES Journal - 2017/2018

[nickynoes]

Update to the daily chart. I believe we might retest the short term down trendline again, which would give us a lower high before going down some more. Won't add more longs until we are at the long term support TL.

 

[manonfire]

Pro's close markets. For the second consecutive Friday we had relentless buying into close catalyzed by a trade nearly to the previous Friday's closing range. These two closing ranges have to be viewed as strong support. If it should give way you have your direction. Wednesday's trade rejected highs inside the previously discussed Fed price action from March 22. Conditions are ripe for congestion, still a nice range to trade. A trifecta of news the first week of May should catalyze the next big move. Apple earnigns May 1, Fed announcement May 2 and employment report May 5. Apple catalyzed the last two days of selling. Until then daily earnings and end of month trade should give us a lift to low 2700's to last weeks highs.

 

[Overnight]

Update to the daily chart. I believe we might retest the short term down trendline again, which would give us a lower high before going down some more. Won't add more longs until we are at the long term support TL.

View attachment 185002

That chart shows me that I should buckle down for another ride of volatility, another cycle of what...Let's call it 6% up or down. It is, after all, a crunchy wedge formation. Will this summer dampen the edginess the market feels with Frump in power? That Kim Jong Un is piping down seems to lead the idea of an up market, but I am still afraid to act upon it. Hmmm!

 

[nickynoes]

That chart shows me that I should buckle down for another ride of volatility, another cycle of what...Let's call it 6% up or down. It is, after all, a crunchy wedge formation. Will this summer dampen the edginess the market feels with Frump in power? That Kim Jong Un is piping down seems to lead the idea of an up market, but I am still afraid to act upon it. Hmmm!

Its descending trend line, think what you will fundamental wise but price is going down until the tl is broken. Yes I also think it is building a wedge which often breaks down but time will tell.

 

[mastacoli71]

Update to the daily chart. I believe we might retest the short term down trendline again, which would give us a lower high before going down some more. Won't add more longs until we are at the long term support TL.

View attachment 185002

Touch 5 of the triangle. Unless it becomes fake break we could get approx 300 pt move down from point of break. We not going to stay where we are much longer.

 

[Buy1Sell2]

Definitely staying long here until proven wrong. Looks long to me right now.

 

[nickynoes]

Have a feeling it's just going to consolidate a few days and then break down wednesday.

 

[lawrence-lugar]

Have a feeling it's just going to consolidate a few days and then break down wednesday

'Feelings' can be fleeting and temporary -- and somewhat very dangerous to assume such.

It's much better to be patient, and calm, and observant and reflective.
Have initial directional conviction, with the supporting loose logic and rationale ...but still be patient and open-minded and apprehensive about placing any quick bets.

The Trend is always your Friend, till it's not...and that's The Key. And million dollar question...when has that inflection point been truly reached and realized ,

 

[manonfire]

Buying Friday's closing range here.

 

[manonfire]

'Feelings' can be fleeting and temporary -- and somewhat very dangerous to assume such.

It's much better to be patient, and calm, and observant and reflective.
Have initial directional conviction, with the supporting loose logic and rationale ...but still be patient and open-minded and apprehensive about placing any quick bets.

The Trend is always your Friend, till it's not...and that's The Key. And million dollar question...when has that inflection point been truly reached and realized ,

There is a fucking psychology page for this shit, stop wasting internet.