ES Journal - 2019/2020
- Thread starter Buy1Sell2
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Damn, massive short covering? I was just entertaining NQurious's short idea with a short at 2505 limit or a sell stop at 2480. Too scared now to try. NQ and Nikkei lagging with Bond and Gold up suggests to me a risk off day. Or is all this the magic of easy monetary policy?
Some setups work and others don't....just the nature of what we do. Just wait for the next setup.
You'll have to excuse me for not being able to update my trades in realtime like I usually do throughout that madness! lol.
I was able to hedge it a little and catch a large chunk of the upmove on the Dow against my ES short, although I can tell you I lost a few days profits there still. Not to worry. Still just about up on the week!!
Good luck. Be careful!
I was able to hedge it a little and catch a large chunk of the upmove on the Dow against my ES short, although I can tell you I lost a few days profits there still. Not to worry. Still just about up on the week!!
Good luck. Be careful!
Badda Book Badda Boon!!!!
yyyyyyyyyyyyyyyyaaaaaaaaaaaaaaahhhhhhhhhhhhhhhhhhhhooooooooooooooooooo!!!!!!!!!!!!!!!!!!!!!!
Yes, this is their game, buy up supply in the market and force shorts out(This causes those huge up fast bars), than sell into the them as well as any new buyers. If you go back and look you'll see a good portion of those high velocity up bars get filled back in(at least to the open price of the bar) That type of velocity of move up is very difficult to sustain for any length of time, particularly in an environment like this.
EDIT: Same thing with CL, if you go look a lot of the high velocity bars already being filled in. Keep in mind not every single one will get filled (particularly in a bullish instrument the first 1-2 may not fill in) nor will exact price always hit, but you can normally expect at least 65-80% of the bar even in bullish environment.
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