ES Journal - 2019/2020

[Laissez Faire]

I was tempted to go long here (76), but not getting a good read, so sitting on my hands at the time being. FWIW, I do not think we'll sell off today and favour new highs by the close, although it's a mixed read for me.

Big picture, we might be consolidating today before the next large move (most likely down, IMO).

 

[bbpp]

Move stop to 2872.5.

 

[Laissez Faire]

TL broken. Let's see if this leg down stops around 72-73. If not, maybe we'll sell off today after all.

 

[bbpp]

Out at 2872.5.-1.5.
Total -7.5 today.

 

[mm2mm]

i dont think we are over with the down move from trade war just yet...

 

[tenny1886]

TL broken. Let's see if this leg down stops around 72-73. If not, maybe we'll sell off today after all.

i was earlier calculating a move to 55.00 level but after seeing the momentum revised it to 63-64 or lower, i have a little higher probability of a down move to that area and should happen today in RTH in MHO but bear momentum is very slow so it could be slow paced. If momentum picks up then really could go lower like a test of RTH low. BUt today is a non trendy day for shorts so could just range as always PA is key. it is just a probability so have to trade and set SL accordingly.

 

[tenny1886]

I was tempted to go long here (76), but not getting a good read, so sitting on my hands at the time being. FWIW, I do not think we'll sell off today and favour new highs by the close, although it's a mixed read for me.

Big picture, we might be consolidating today before the next large move (most likely down, IMO).

they did set up a major ceiling 2 points above your temptation, so i am more favorable to short.

 

[tenny1886]

need to break below 64.50 to get a clearer picture for me. how it breaks is very imp. in MHO to make the next decision, to stay in trade or hold rev position.

 

[Buy1Sell2]

There's been no longer term buy signal yet---headed out for 18----talk to you soon.

 

[Laissez Faire]

they did set up a major ceiling 2 points above your temptation, so i am more favorable to short.

The temptation was when price was going up. The lower high and reversal bar was a very nice short entry, but I missed it. Currently flat and feel it's too risky to initiate a trade from here as I have a short bias, but we're in a zone now where we can reverse back up intraday.

My main scenario for the rest of the day is that the HOD/LOD is set and that will most likely close around 72/75. Then again, I'm often wrong.