ES Journal - 2019/2020

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Laissez Faire said:
Might still get that second leg down towards 3350. A 20 point swing in this market means nothing, so while we did put in a LOD - it might not be THE LOD.

I still maintain the view that we bottomed out or are close to doing so with the potential of a strong swing higher above 3390 towards 3400 by the Close.

But definitely not feeling very certain and the longer we stay below 3376 - it's increasingly less likely we'll see a strong move higher.
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NQ spending a lot of time in this 11500-11520 area. So they are loading the bus for a big move very soon. I am just not confident enough in either direction at the moment.
 
Potential for a nice short cover rally here once decently back above 11520.00 flirting with it now. Still don't see any good trade though.
 
trdes said:
Still don't see any good trade though.
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Depends on what stop you're willing to use, but there should be a strong long bias from here. Stop @ 3345. Target 3390/3400.

Right now we're at top of a range, so not the best entry unless we breakout higher.
 
Laissez Faire said:
Depends on what stop you're willing to use, but there should be a strong long bias from here. Stop @ 3345. Target 3390/3400.

Right now we're at top of a range, so not the best entry unless we breakout higher.
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Understood and agree. Seeing if this short cover rally can pick up some steam here and really push some shorts out.
 
trdes said:
Understood and agree. Seeing if this short cover rally can pick up some steam here and really push some shorts out.
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It's starting to weaken here 11550, decent probability we get at least a little pullback soon. Going short will exit if get above 11557.75. Looking for 11542.75 to take some off.
 
trdes said:
It's starting to weaken here 11550, decent probability we get at least a little pullback soon. Going short will exit if get above 11557.75. Looking for 11542.75 to take some off.
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Took some off got to 11543.00 close enough.
 
trdes said:
Took some off got to 11543.00 close enough.
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Same stop on re,maining (11557.75) We need below 11542.75 and than to close below it as thats a bottom of distribution area. EDIT: 11530.25 may be all we get (if we even get that low) will take more off there.
 
vanzandt said:
That's what I'm seeing, a big near term bear trap into and thru lunch.
Wrong so far though.
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Ah well to me that already happened, above 11520 was the short covering setup I saw / Posted and we ran up to 11557.75 so a 37 point move to me is a short cover rally. But now the short signal came in as I posted so I went short, got target 1 and now almost to 11530.25 which would clear all the means reversion levels so anything else is extra.
 
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