ES Journal - 2019/2020

[tenny1886]

with

Short 2922.50 Initial stop 2924.50

with you on this one. but has to break the floor 2920.60 convincingly.

 

[NQurious]

Best financial journal on all the worldwideinterwebs!​

 

[nenuser]

So the question you need to ask and answer for yourself (not us) is were you shorting because you have a trading plan that defines a set of variables and conditions that were present and as such indicated a short was appropriate, or were you simply selling a perceived R level?

This were my thoughts for the short. Let me write them.

Starting with the daily I was looking for these levels:

Then, market sold off to the next support level, the first target of that selloff. About here

I was looking for this, that's why I though the 2920 level could work. A setup I tend to watch for. As it made a new low I thought the % of it working were higher.

That's what I was looking for.

 

[Buy1Sell2]

Short daytrade 2921.75 Initial stop 2926.75

 

[glazier]

L 7782
stop at 78

 

[NQurious]

Probably not going to happen, as 24.50 traded and NQ and ES both are selling a bit here, but if I were of a mind to try a short on a day like this (and I am not at all so inclined), I'd place a limit sell at 24.50, expecting 24.75 to trade, and I'd take profits at 1 point intervals on the way down and be flat by 2020 or so. Likely too late and this is the pullback ... three pushes to new highs, 24.75 front run at B1's stop ... if the market plays to script of late it will go into some tight narrow range between 19 and 24.50 for several hours and then break out sometime after lunch, rally to and close at new rally highs. I will be looking to add back at some point, but no hurry, I think.

 

[NQurious]

NQ 79.25 & -1 ... so maybe another -1 to set the bottom of the range 77.75 ... if it doesn't want the symmetry then 75ish +/- ...

Probably not going to happen, as 24.50 traded and NQ and ES both are selling a bit here, but if I were of a mind to try a short on a day like this (and I am not at all so inclined), I'd place a limit sell at 24.50, expecting 24.75 to trade,

Interesting to watch the ES ladder here at 24.75-25

 

[speedo]

NQ 79.25 & -1 ... so maybe another -1 to set the bottom of the range 77.75 ... if it doesn't want the symmetry then 75ish +/- ...




Interesting to watch the ES ladder here at 24.75-25

Trying to defend it but gonna be tuff

 

[speedo]

B1 been throwing a couple hundred cars at a time to hold it

 

[NQurious]

Trying to defend it but gonna be tuff

If you were ever to try a short ES today, that 24.75 would have been it. Even then, I doubt it goes more than 4 or 5 points lower, if that ... someone is trying to lure it to 26