ES Journal - 2017/2018

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mastacoli71 said:
Moment of truth on this wedge pattern. We break higher big move over 3k. A break lower takes us down below 2300.
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My thoughts exactly, it's a huge measured move on this wedge.

Next we either breakout to the upside or it's a fakeout and crash down. Anything could happen really so I sold some of my shorts and I am basically flat right now.
 

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nickynoes said:
My thoughts exactly, it's a huge measured move on this wedge.

Next we either breakout to the upside or it's a fakeout and crash down. Anything could happen really so I sold some of my shorts and I am basically flat right now.
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Smart move. Will be plenty of chances to get in once it resolves. I will see how things pan out today before puking my position. I normally only trade the cash mkt.
 
Currently have a small 1.5 pt gap that we need to fill during the day today. We are at my resistance line of 2680 and I am looking for a punch through and a new floor at 2680 area.
 
Buy1Sell2 said:
Currently have a small 1.5 pt gap that we need to fill during the day today. We are at my resistance line of 2680 and I am looking for a punch through and a new floor at 2680 area.
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On the daily chart yes. Anything less and the gap is down at 2672 cash. I know it has been debated before.
 
Existing shorts have to expect to be squeezed here... Im anticipating a false move up through that may even last more than a day due to large TF`s ... followed by the true move South.

I`m not Married to a position here so simply in observation mode... Interested in seeing just how far Bullys can squeeze the the rear naked choke on shorts here before they Tap... I will react when time is right either North or South as it`s all the same to me... lack of volume is interesting to note.
 
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