ES Journal - 2019/2020

Overnight · Jul 31, 2019

Nobody dares challenge me, because my choice of wrong calls is strong. At least B1S2 had a winning trade in the last 4 months. (I think)

Builder17 · Jul 31, 2019

speedo said:
Yes, they are called 930's as the MA's defining the pullback area are the 9EMA and 30 WMA...just a variation of trend pullbacks. I use three time frames and they all have to confirm the signal in their way. I have my own rules and filters but the setup was named by a good friend, Mike Bruns who sadly passed away a couple of years ago.

Thank you for sharing, I recall you talking about him previously

Laissez Faire · Aug 1, 2019

Interesting action yesterday. I was not present trading it and am only now opening my charts.

Did anyone track the news and PA in real time?

Seems like there was a an immediate drop at 2:00 PM of around 12,50 points and an ensuing recovery. 39 minutes later shit hits the fan and we see a drop of 55,00 points in 18 minutes.

Not your average market day for sure.

Laissez Faire · Aug 1, 2019

NQurious said:
SPX is going to 3090’s before 2950’s. ‘Tis written in the sun, the moon, the stars.

And again, that nagging question: Why is the obvious not obvious to so many?

Do 58 qualify as 50s...?

Or have yesterday's action negated this call?

Buy1Sell2 · Aug 1, 2019

Overnight said:
I bought at 7874.50. Who else here could so masterfully buy at the high of the current day right before the drop? NOBODY. I win.

dangkevin · Aug 1, 2019

Laissez Faire said:
Interesting action yesterday. I was not present trading it and am only now opening my charts.

Did anyone track the news and PA in real time?

Seems like there was a an immediate drop at 2:00 PM of around 12,50 points and an ensuing recovery. 39 minutes later shit hits the fan and we see a drop of 55,00 points in 18 minutes.

Not your average market day for sure.

Federal Reserve drop interest rate yesterday and follow up with a conference. You need to beware of these important events as it will affect your the market greatly.

Laissez Faire · Aug 1, 2019

dangkevin said:
Federal Reserve drop interest rate yesterday and follow up with a conference. You need to beware of these important events as it will affect your the market greatly.

I hope everyone involved in the markets were aware of that much anticipated news release at 2:00 PM (which I referenced in my post) with the press conference starting at 2:30 PM.

I was merely curious if anyone followed the conference/news and if there were any particular triggers associated with the drop starting circa 2:38/39 PM.

kellys · Aug 1, 2019

Laissez Faire said:
I hope everyone involved in the markets were aware of that much anticipated news release at 2:00 PM (which I referenced in my post) with the press conference starting at 2:30 PM.

I was merely curious if anyone followed the conference/news and if there were any particular triggers associated with the drop starting circa 2:38/39 PM.

Powell was the trigger. He handed out some money...but not enough.
Basically, he gave the market a lot less than they wanted.
25bps cut as insurance and not looking to get into a cutting cycle for now.

Laissez Faire · Aug 1, 2019

kellys said:
Powell was the trigger. He handed out some money...but not enough.
Basically, he gave the market a lot less than they wanted.
25bps cut as insurance and not looking to get into a cutting cycle for now.

Yes - I figure that was it. Seems like many were expecting 50 bps yesterday.

trading_jean · Aug 1, 2019

I don't understand why they would have expected that. As far as I can tell he said exactly what was written in most if not all of the media for the past couple of days.
To me this is just an example of 'buy the rumor, sell the news', or am I missing something?