ES Journal - 2019/2020

[volente_00]

Why fight the intraday trend?

Because that's how you buy the low and sell the high

 

[Buy1Sell2]

Speedo's got a point B1....
I was trying to figure out a way to say that politely too.

I had 1 of 3 trades that were winners yesterday, but ended up positive for the day.

 

[speedo]

Because that's how you buy the low and sell the high

It's also OK to short the top.

 

[Buy1Sell2]

The floor in this market for the time being is without a doubt 2600. --until further notice. I would like the move today to stall out and close right aroung 2670. We can attack the resistance at 2690 on Tues. I still believe more selling will come in the 2690 to 2730 areas so I'll be careful there.

2600 floor intact for now with the bounce here to 2650 area. Make no mistake though, 2622 are is still bidding to be the new floor.

 

[volente_00]

It's also OK to short the top.

What do you think selling the high is ?

 

[Buy1Sell2]

Here is a daily chart of SP futures where I have drawn support/resistance lines for your perusal and independent conclusions.

 

[volente_00]

Long avg 2619.25
Stop 2608

Objective is 2669.75

Reduced at 2652

Stop trailed to 2619.25

 

[Buy1Sell2]

Now the lines drawn on the hourly--

 

[Buy1Sell2]

----and now the top line on the 15---

 

[Buy1Sell2]

Our challenge then becomes what to do with this 1 min chart---