I have short-term cycles up all day so I'm not shorting today. I may be wrong but I'm not going to go against them. Continuing to watch the unfolding dynamics among ES, NQ and RTY. RTY is definitely the place to be today so far.
ES Journal - 2019/2020
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Getting wrecked at the moment need below 11676.25
Here is your area of resistance on NQ. Still, too oversold for me to short and I have cycles up. Good luck.
It's all good, I was able to sneak out of some when it got below there. I've got decent profits in the day from earlier shorts, not that I want to lose them, but going to continue to work in and out here.
Was only interested in the long at 11600.75 NQ and ES 3431.00 that posted earlier, but I messed that one up and exited way too early.
And the cycles are still in control.
With the odds of a winning trade on the long side today, I give kudos to those brave traders who keep BTFDs. @Laissez Faire is one of these brave ones...
Nice. Got lucky on that move down prior to move up to exit some, but didn't cover all so caught again on some. I am still going to fight it. But I've lost 50% of profits so far and clearly on wrong side. I Think we can pull back to 11696-11706 though, so well see.
Question though wasn't it oversold on your system though when it was 70-80 points lower? Not trying to be picky, just that's the reason you gave, but the market was already up 70-80 points, so just trying to better understand.
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