ES Journal - 2019/2020
- Thread starter Buy1Sell2
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Who doesn't?
I find that ES trades very technically, but tends to have its fair share of 'false' moves and quick reversals/snapbacks before resuming the original direction. So, as a trader you need to come to terms with if you want to sit through deep retraces swinging for larger moves or if you'll scalp the smaller moves or even break up the larger move you envision into parts.
At the end of the day one simply needs market knowledge of the market one trades in and a deep understanding of how it moves most of the time. As a trader this can be exploited. If the market typically snaps back after a break; buy the break.
Love this, agree to managing the moves into smaller fractals..like the 50-62% retrace..
How does this translate into actual trades? Throw a few out here as examples..thanks.
As Laiss was saying, depending on your timeframe you either sit through the retracements with stop beyond the 50-62% or use these levels for re-entry..look at the 1 min chart today, measure the legs and retraces..look at 2-3 min from yesterday, see the retrace up mid-day was about 50% of down leg..
I do not follow this, but for assistance to requested example. 50% sell zone, 50% buy zone.
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