ES Journal - 2019/2020

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FXtrader8911 said:
For now, the sell-off is over,
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I agree. I was going to post that and saw your post. Would like to see that low tested near the RTH open tomorrow, but no guarantees that that will happen. Then again, if there were guarantees, trading wouldn't pay so well.
 
Utah said:
Did any of you guys just get stuck in that black swan? Check what just happened at 9:16 EST. That was nuts!!
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Not stuck exactly but that ofter market dip reached my awaited 2,791 target and got me out of most remaining shorts, so a white swan for me. Insiders leaned that China will place its fix below 7 today to stick it to Trump, that caused the flash dip (probably all bot induced as when Asia opened, the 2.2% dip evaporated with human intervention).
 
Tested the flattish 200 day MA once again. I actually thought this was in the cards a week or so pre-FOMC to force their hand into a bigger rate cut. I was wrong, it was postponed till afterwards. Looks a lot like the panic lows of Feb 2018.
 
Had a friend (running GM in Venezuela), was full of praises for the country... look at it now! Just a reminder on how corruption can change fortunes.
 
Laissez Faire said:
it is worth nothing that every all time high since the top in 2018 have been short lived and followed by a very decent correction (from 10 - 20 % down each).
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Good observation, this is what happens when markets are elevated by fumes... nothing solid to hold them up. The real headscratcher is who's buying at the high to send them higher... can't be the daytraders, not enough of them. Can't be fund managers, surely there are not enough stupid ones to move markets. The logical answer is share buy-back but then we are in reporting season so none of that should be taking place. Who? Does anybody know? Anyway, come year end, markets should be at the top again driven by fundamentals and should then stay there (unless Trump or Powell, both unpredictable characters than don't think things through, put us on the path to recession)
 
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stayed up all night to trade this short squeeze on ES and NQ. Been a great move so far. Nothing too unpredictable, but a hell of an uptrend. Doubt I'll trade the open today. I've never been a fan of the price action after a short squeeze. Just too crazy. Congrats to anyone thats made money in this. My futures account loves me, but I dont want to look at my 401k balance.
 
Looks like the bottom happened overnight and we are going back to 2950ish. This is based on the weekly chart, we reached the lower BB, so the bounce is due. The lower target is the SMA line around 2950.
 
NQurious said:
That being said, I think we are within hours/days of a very nice buy signal ... seriously. The set up we had as of last Friday has been bullish set up 93.33% of the time. The last time we had the exact same set up was as of the close 12/21/2018

Now look at 12/24/2018, and look at today. The average 1 month change is +6.11% ...
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Now look at 12/26/2018
 
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