ES Journal - 2017/2018
- Thread starter Buy1Sell2
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The market is down 292,50 points/-10,0%, continues making new lows and people are still waiting for a 'bear catalyst'.
By the time they get their catalyst, it's probably time to be a buyer.
That said, I think it's a time where one can start to anticipate a potential bottom. Not that I'm calling one.
Quoting myself from the 24th of October. There were some harsh comments made from both sides of the fence back then...
I register that some of the people who insisted we were in a minor correction back then now seem to be of a different opinion.
Define rip, please.
Comparatively, we will not see a strong close today, but we might see a 'minor' up swing into the close. We're after all down 99 points high to low on the day.
30 ptsDefine rip, please.
Comparatively, we will not see a strong close today, but we might see a 'minor' up swing into the close. We're after all down 99 points high to low on the day.
I believe there will need to be a 100 to 200 pt rip however in the near future (as in next week)Define rip, please.
Comparatively, we will not see a strong close today, but we might see a 'minor' up swing into the close. We're after all down 99 points high to low on the day.
wait --no---turn those machines back on---we still have 18 min!
I would have liked to have seen 2400 today, but it looked overdone for the moment to me so I got out. Today was a down day for trading accts value, but I made significant strides in the 1 min chart timeframe coordinating with the 5 and 15. Still have a few min here to get it down to 2400. Looking forward to the future.--Ish
I also believe it will happen in the future, but seeing how bottoms are called daily on ET now - these calls no longer have any validity when they finally happen.
If we see a huge up move. Read: reversal. Followed by a minor retrace, a higher low and new highs. Maybe I'll join you guys on a 'the bottom is in' call. Hell, we can easily see a 100 to 200 point up move and still be in bear mode.
For now, the trend remains down and until that changes - no need to call a bottom. As always, a good trader needs to be prepared for the most basic scenarios and a few unlikely ones.
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