ES Journal - 2019/2020

[Buy1Sell2]

Day/Swing Long 3198.75 Initial stop 3186.00

Stop raised to 3210.00 ---current pricing 3251.25

 

[Buy1Sell2]

--and roll into March long at 3159.25 initial stop 3042.00 (stop stays the same from Dec trade)

Stop raised to 3080.00

 

[Buy1Sell2]

I love this little intraday pullback in an upmarket!! There will be tons of opportunity to make an intraday long ---Izzy.

 

[speedo]

In the mean time it's a pretty good short for us day traders.

 

[Rickshaw Man]

 

[Rickshaw Man]

Buy the dips.....make free money.

 

[Rickshaw Man]

 

[Buy1Sell2]

ES Journal 2019-2020 Current Tally

33 wins 34 losses 49.25%
Total gain 638.75 points.

 

[syswizard]

ES Journal 2019-2020 Current Tally
33 wins 34 losses 49.25%
Total gain 638.75 points.

Pretty impressive...that's nearly $32k per contract. With 5 contracts, one could live on that pretty well.

 

[FXtrader8911]

So yes - caution. But I'd be just as cautious shorting this on the basis of the market being 'overbought'.

One needs to define "overbought" to determine the risk. Earnings are diminishing so the current PE is the "overbought" determinator. Sentiment mostly drives markets to overshoots in both directions, however, on average, markets are efficient and will eventually reflect the fundamentals. The next 2 reporting numbers will say whether present highs are justified, these coupled with geopolitics and the fiasco on the trade negotiations makes correction more likely that continued new highs.

it's fun to run the numbers and see what's happened in the past on similar patterns

If we want to use past patterns to indicate future movements then we need to look at the symmetry of the pattern when the fundamentals were similar... Applying pure TA without an adjustment for different fundamentals is quite meaningless in my view